I hope you're all doing well. I have a question regarding the payment structure outlined in my MBA contract with my builder. I'd greatly appreciate your insights and experiences on this matter.
Here's the situation:
- My builder is requesting that I pay the entire amount, including the final handover payment, upfront. They have mentioned that they will later credit me for certain items specified in the contract that we mutually agreed not to proceed with. These items include upgrades, molding work, and builder's credit for kitchen appliances.
- My understanding was that deductions for items not completed or changes made (variations) would be accounted for either before the final handover payment or during the variation payments as work progresses. However, my builder insists that I pay for all variations now, along with the final handover payment. My build is still ongoing, with some finishing work remaining.
I'm curious about your experiences with similar situations and whether this payment request aligns with common practices or if it's reasonable. Your input would be greatly appreciated, as I want to ensure a fair and transparent payment process.
Thank you all very much for your assistance, and I look forward to hearing your thoughts and experiences.