Browse Forums General Discussion 1 Feb 25, 2016 8:28 pm I need some help with my new build and clarifying the process. Last October I signed a contract to buy a unit that was almost fully built. Settlement is now due in 4 weeks. I have already gone through the unit and noted significant defects and the builder has been informed. I thought someone had to inspect the property and after that is when i could go through it for a final walk through. But my conveyancor has emailed me this: "I have been advised and provided with a copy of the Occupancy Permit. What happens when a purchaser is paying progress payments for a build, then the Purchaser’s Bank would arrange for a final walk through prior to handing over the final payment and this does not apply to you as you are not making progress payments, the whole of the purchase price is due on the settlement date. " So when should i go through it to check everything. ? If i notice more faults do i have to pay on settlement day? How long does the builder have to rectify issues. ? Or what victorian agency do i direct my questions to? Re: Purchasing a new build...final walk through. ? 2Feb 26, 2016 9:44 am The builder will have so many days after you take posession in which to fix the faults you find. You will need to make a note of them and then submit them to be fixed. This should also be in the house contract you got when you signed. They cant get away with not doing it so dont worry about that. Re: Purchasing a new build...final walk through. ? 3Feb 26, 2016 10:53 am Normally you should have an inspection a couple of weeks before the handover date. This allows the builder time to fix those defects before handover. They are still required to fix defects after handover, but it's easier beforehand, because they can still use the construction keys to get in, and there's no dispute about who might have caused marking on walls etc. You can try witholding payment on account of not fixing defects, but beware of the costs to yourself. If it costs you money to live elsewhere while waiting, it may end up costing you more in those costs than the repairs are worth. If the builder is at all reasonable, they should happen as part of the warranty anyhow. Still, I'd recommend an inspection before handover, and reach a written agreement on which items need fixing before you hand over your final cash. Re: Purchasing a new build...final walk through. ? 4Mar 07, 2016 6:42 pm first, check your contract.. i dont think you can withhold payment, even with your list of defects, the most you can do is to pay the settlement amount by due date, take possession of the unit .. and pray that the builder will come and fix all the issues you have identified. If you didn't pay by due date, the vendor might charge u extra interest/penalty as per your sale contract. 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 11872 Do you really want to accommodate the window? What is on the outside of the window? Do you want to be able to see your towels from outside? I would blank the window from… 2 8409 Electrical just got back to me and said the most they can provide is a single power point on the Bedroom 1 side of that wall. After handover, your towel rail installer… 2 3850 |