Browse Forums Building A New House 1 Feb 01, 2009 11:58 pm Well, we've bought the land, finalised a house design we're all happy with, and just need to sign the contract and get started. Our builder has given us the standard Master Builders contract, and the payment scheme seems pretty reasonable, and he's happy for the penanlty clause to be generous enough to fully cover our rent.
Is there anything else we need to look out for, and is it worth getting our solicitor to look over the contract before we sign? We've been really happy with our builder so far, but I'm reluctant to shell out for a solicitor on this if there's not much we can change on a standard contract! Our blog: http://20percenthouse.blogspot.com/ Re: Standard Builders Contracts Q? 2Feb 02, 2009 10:05 am Is the site cost fixed? Blog - http://clageonewhouse.blogspot.com/ Building Thread - viewtopic.php?f=31&t=10886&hilit=milan I am in, with my husband and my beautiful bunny Re: Standard Builders Contracts Q? 3Feb 02, 2009 10:21 am the penalty clauses should be carefully noted. In ours, if the builder runs over time, then we are charging $750 per week. We came to this figure because we would be charged interest on our home loan for this amount and the cost of rent we would have collected on our existing home would have been lost because we were still living there. THEN, our builder has a standard policy that whatever our late charges are for him, they are the same for us. But this is not necessarily legal under the Act. They have to demonstrate that they are actually going to make this loss, but I suppose they would be able to so the point is moot. Be aware of your delay fee clauses - just so you know! A thankful person is a happy person. [/color]My hobby design blog: http://aviewondesign.blogspot.com/ MBA and HIA both have sub contract agreements, check them out 2 6017 Industry type domestic contracts are prepared by industry bodies for the benefit of the builders. This means that if you are the owner watch out. One of the points is… 0 1999 What we have done in a few theatres ( including my own) is run 2 layers of 13mm gyprock, but sounds insulation especially for the bass is really tricky as a lot of that… 4 1677 |