It’s becoming more common for banks and other financial institutions to request that developers provide a Quantity Surveyor’s Initial Cost Report to be submitted with the loan application.
What Is An Initial Cost Report?
An initial cost report usually includes a detailed cost breakdown of estimated construction costs BEFORE the project commences.
It’s also a valuable tool when it comes to identifying any risks associated with the proposed development.
A Duo Tax initial cost report is presented based on detailed measurement and pricing from the available project documentation, such as the:
- building contract;
- building plans;
- Council approvals and permits;
- insurance details;
- cost trade breakup;
- cost projections; and
- soil report.
Why Do You Need a Duo Tax Initial Cost Report?
You’ll be required to engage a Quantity Surveyor for an initial cost report when applying for a construction loan for your development project.
At Duo Tax Quantity Surveyors, we can provide you with an initial cost report within 3-5 business days.
We’ve carried out hundreds of reports for clients seeking funding from the big four Australian banks, as well as other major lenders, so we have experience working alongside many different lenders.
As registered Quantity Surveyors with the Australian Institute of Quantity Surveyors (AIQS), we act in accordance with all AIQS requirements and ensure that every report is completed in detail and at a high standard.
Apart from providing an initial cost report for your construction project, we also provide a full cost estimating and cost planning system.
As Quantity Surveyors, we can help the architect evaluate comparative costs for alternative systems of construction and finishes.
We can also advise on the total cost implications and methods of construction.
Contact Us Today To Order Your Initial Cost Report!