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Haha. I knew about this but I just assumed it was a very detailed process. You do know I'm an engineer right. :D I'm surrounded by certified engineers.

Yes the valuer called me privately and told me as such. About the engineers approval etc. It is up to the banks discretion. So it was simply a to whom it may concern huh? Hmm.

A Case Study: So valuation came back. Valuation: $400k (granny flat not included as it was classified as 'transportable'). Purchase Price: ~$318k (all costs inclusive) - in 3 years, far from amazing, but not bad. If I was to sell it at $450k, I'm guessing I would have a lot of trouble...

I believe at best you receive 80% of the CONSTRUCTION cost back as equity if it meets all criteria. It is purely a cashflow option. Only reason it works for me is I build them for myself cheaper. I would never spend $100k+ for a granny flat myself. I'd rather buy another place which was my...

There was another method, joist wise, but needed to be approved by an engineer as 'this building cannot be moved'. I mentioned to the valuer I was an engineer and was willing to approve it, he just laughed. I didn't get the joke. My mate then suggested we offer to rig it up with explosives...

So I finished one of my granny flats. Brought on-site, approved by council etc. I wasn't aware of this. As of 18 months ago, unless it is built directly on a slab it is considered 'transportable' and the bank is advised by valuers to assess it as $0. There are a few exceptions, but even a...