Browse Forums General Discussion 1 Jan 29, 2020 7:46 pm Has anyone had issues with progressing the final progress payment when not every tiny detail in their contract is finished? I understand the bank get valuations to keep the builder in check but we have gotten a certificate to occupy from a private certifier, has ZERO issues with the builder the whole way and just want to get moving in- we haven’t put down the turf yet (which is in the contract) but wanted to get that down a little later when the weather isn’t so dry - just wondering if anyone Has had the bank hold them up on final progress payment based on a few tiny contract elements not being finished??? Re: Final progress payment issues 2Jan 29, 2020 10:18 pm Mine just visited to check the house was up once I forwarded CofO, likely just to check that house was worth more than my loan. My town planning said that landscaping should be done before CofO. I was doing it after handover, and after I moved in, bank didn’t care. I don’t think you’ll have any problems. Re: Final progress payment issues 3Jan 30, 2020 6:26 am You don't necessarily need landscaping completed or even defects completed to get Cert of Occupancy. Have a ready through your contract under the handover procedure, final payment obligations and defects. It will be clear as mud when you read through that. Registered Building - Always happy to help where I can and simply loves the game. DM me if you need help in VIC. Re: Final progress payment issues 4Jan 30, 2020 7:59 am MClark You don't necessarily need landscaping completed or even defects completed to get Cert of Occupancy. Have a ready through your contract under the handover procedure, final payment obligations and defects. It will be clear as mud when you read through that. Thanks for the reply- the certificate of occupancy was easy- it was just when we came to submitting the final invoice the broker we used mentioned the bank may not progress it because the grass wasn’t done and was in the contract- didn’t really think that would be enough to stop them progressing the invoice- the builder has built our last home and isn’t a Metricon or plantation so we know he isn’t bad but I guess the banks/ customers have been burned a few times Re: Final progress payment issues 5Jan 30, 2020 8:50 am Gaudi Mine just visited to check the house was up once I forwarded CofO, likely just to check that house was worth more than my loan. My town planning said that landscaping should be done before CofO. I was doing it after handover, and after I moved in, bank didn’t care. I don’t think you’ll have any problems. Thank you- fingers crossed!! Re: Final progress payment issues 6Jan 31, 2020 7:27 am We had quite a few small items still to be completed after handover (we signed completion as we needed to move in as we had to be out of the rental place) and the bank (Westpac) didn't care at all. I think all they were interested in was whether there was actually a house Re: Final progress payment issues 7Jan 31, 2020 7:48 am brokenstick We had quite a few small items still to be completed after handover (we signed completion as we needed to move in as we had to be out of the rental place) and the bank (Westpac) didn't care at all. I think all they were interested in was whether there was actually a house Thank you- that’s what I am hoping- we have to be out of our rental too but didn’t know how severe St George would be in progressing payment 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 11849 There is no reason why building contract reconciliation cannot be done prior to handover, if the builder won't do it get someone to do it for you. Why would you pay for… 3 6680 1) I had requested R6 ceiling insualtion batts, however I noticed that on some areas there are huge gaps which will allow hot air to sweep in, and also noticed black/grey… 0 3585 |