Browse Forums General Discussion 1 Apr 07, 2020 6:28 pm I was wondering if someone could help me. We signed contracts to build an investment property in July 2018 and the land is about to title in 3 mths. Due to the coronavirus I am no longer working and we are being told we need to come up with 300k to be able to progress to the next stage of the build. There is just no way we can do that and we are being told we will be charged a penalty if we pull out. I need help please we are so scared of what will happen. Re: Pulling out of a contract 4Apr 07, 2020 8:37 pm We are asking if we can do that but we are not to hopeful. Re: Pulling out of a contract 5Apr 08, 2020 7:33 am Penalty is only in criminal matters, in contract it is damages. Have you asked what the amount will be? Foremost Building Expert in Australia,assisting with building problems/disputes, building stage inspections,pre-contract review advice for peace of mind 200 blogs http://www.buildingexpert.net.au/blog Re: Pulling out of a contract 6Apr 08, 2020 7:53 am When you find out what the damages amount is for pulling out of the contract, if the builder does not agree to waive or reasonably reduce this please let everyone know who they are. In these difficult economic times everyone needs to make allowances, including builders. People will remember the builder’s decision when we all come out the other end of covid-19 and they need to consider their behaviour now very carefully. Unless there is something in special conditions the builder does not have to give you timeline. If your demolition contractor has not removed Asbestos and it was found… 12 28812 ![]() You talk about deletions, are they variations or PS and PC adjustments? pleas list them 1 16569 ![]() 4 14309 ![]() |