All developers, and to some extent owner builders, that require finance for their proposed developments come across the same conundrum: the finance institution requires an approved qualified quantity surveyor to carry out a ‘due diligence’ test on the costs associated with the project and the ‘parties’ involved in the delivery of the project.

This rule holds true whether these developments are high density multi-residential, retail, commercial or simply a single residential property. Most finance institutions have similar requirements – an initial assessment report and ongoing drawdown recommendations during the construction phase. This poses a conundrum for the developer, as evident by the following…