Common use of Valuations and surveys Clause in Contracts

Valuations and surveys. ANZ may require a valuation or survey of the property before any progress payment is made (and this may happen more than once during the term of your loan). If a survey is required, you must make this available to ANZ and pay any related costs. If a valuation is required, you may be charged: • a time based valuation fee if the valuation is completed by an ANZ employee, or the actual valuation cost if it is carried out by an external valuer. All external valuation fees are payable on the date they are invoiced to ANZ and may be debited from your account; or • a valuation administration fee. This fee is payable for administration costs incurred when a valuation or price estimate is required by ANZ in connection with each Security for a loan, change to Security or Guarantors as set out in your Letter of Offer. This fee is payable on or before drawdown of your loan or when the change is requested. No warranty on the quality of work is given or implied when such an inspection is conducted.

Valuations and surveys. ANZ may require a valuation or survey of the property before any progress payment is made (and this may happen more than once during the term of your loan). If a survey is required, you must make this available to ANZ and pay any related costs. If a valuation is required, you may be charged: • a time based valuation fee if the valuation is completed by an ANZ employee, or the actual valuation cost if it is carried out by an external valuer. All external valuation fees are payable on the date they are invoiced to ANZ and may be debited from your account; or • a valuation administration fee. This fee is payable for administration costs incurred when a valuation or price estimate is required by ANZ in connection with each Security for a loan, change to Security or Guarantors as set out in your Letter of Offer. This fee is payable on or before drawdown the Date of your loan Drawdown or when the change is requested. No warranty on the quality of work is given or implied when such an inspection is conducted.