Browse Forums General Discussion 1 Feb 01, 2021 6:37 pm Hello, Anyone here that’s done/is doing a house and land package with payment on completion? Just have a few questions in regards to the process once the PCI is booked - Question 1: our finance is reliant on the valuation from the bank, which our broker said can’t be done until the house is fully completed. When would be the best time to have the valuation done to minimise any delays for the handover? Question 2: were you allowed to have an independent building inspector during the PCI? We’ve already been given a no by our SS and was told that we can do an independent inspection after settlement. We probably wouldn’t push for it if we were allowed to inspect the property more than 2 times in the entire duration of the build but as it is we would appreciate having the building inspector do their thing before we sign off the PCI document (whatever it is called). If there are any other info you’d like to mention please feel free to leave them here. Thank you! Re: Building with MJH - payment on completion + other questi 2Feb 02, 2021 12:23 am If your purchase is under a Real Estate Contract (it sound like it is, due to the single payment) then unless you had a clause inserted into the special conditions, Nope you have to settle first, then do your after handover inspection and these defects unless urgent would be done as part of your minor defects warranty period. You get one bite of the cherry. If you're under a New Dwelling Building Contract (unlikely due to single payment), then the builder is not permitted to exclude. We are Expert Consultant's, and we are here to help. Re: Building with MJH - payment on completion + other questi 3Feb 07, 2021 5:42 am BuildingandLegal If your purchase is under a Real Estate Contract (it sound like it is, due to the single payment) then unless you had a clause inserted into the special conditions, Nope you have to settle first, then do your after handover inspection and these defects unless urgent would be done as part of your minor defects warranty period. You get one bite of the cherry. If you're under a New Dwelling Building Contract (unlikely due to single payment), then the builder is not permitted to exclude. That was very helpful, thank you! It's crucial to check your contract and local regulations regarding late completion penalties. If your builder said the permit issuance means no more penalties, you should… 8 9178 nothing to do with salespeole. you'd do well to read and ccomprehend the post before bashing away at the keys with some negative comment again. 4 5042 regardless, your contract stipulates a payments schedule and SOPA doesn't give provision to that scenario. Your contractual terms appear to stand. Hence get a lawyer, it… 4 8905 |