Streamline Your Progress Billing for Construction Sample for Product Quality

Progress billing for construction sample for Product quality

so your construction loan is approved and you're ready to go you've signed your agreements and you're done hey it's aaron from diagnostics and Finance this is part three in the construction series now that you've got your finance approved in things what's next there's might be some cancel proof plans that might need to be tidied up with the lender ready to go for the next progress payment and we'll talk about that in a minute or there might be a 5% deposit that you have to pay to get everything all signed off and council approved just to get the build going and that's a really good thing so when you are buying the land you need to probably hold back about 5% of what you think the construction is so that you can get to this point in safety and ease and so now you've got the the buildings underway the slabs down and you get an invoice what do you do one of the things that comes up a little bit more often than not is sometimes if the progress payment you've got some of your money and some of the bank's money this is where you as a client needs to sign off on the build progress where it's up to and it's always good to check with a photo or drive-by just to make sure that all the works done so you can sign off from that invoice with ease and the Builder can get paid their money and get to the next stage from slab to frame to roof to bricks to internals and then hopefully to handover no trouble hey it's aaron from diagnostics and finance hope this little construction series is helped by for now