Browse Forums Building A New House 1 Jul 21, 2009 7:35 pm Hello, We have been given a date for handover!!! 06 August. Im so excited I am waiting for the final invoice to be sent. Our builder thinks we will receive by next monday. And the cert of occupancy three or four days later. My question is... Our bank ( westpac) has to send out their valuer to inspect the house before they will release final payment. Does this mean they have to revalue the house?? or just that they check to make sure everything on the contract is there?? They had already valued everything at the start when we got our loan. They dont do it again do they? Is it common for the bank to pick up on things in the inspection and not hand over payment?? I just want everything to go smoothly. Living in Caloundra Thread****** Lovin my house all finished!!! Now tackling the HUGE task of the Garden- viewtopic.php?f=31&t=14782 Re: Handover Help?? 2Jul 21, 2009 7:41 pm Hi there, we are going through the same thing. Today we got the final invoice as well as the certificate of occupancy which we faxed straight to the bank. It will take up to 5-7 days for the valuation to be done followed by final payment. As far as I know the valuation will be checking to see if as you said everything in the contract is valid. I would not think another total valuation would be done. I think it will all be fine Re: Handover Help?? 3Jul 21, 2009 7:48 pm ohh thanks Mundie. I thought it would seem a bit strange to re-value. Our appliances dont go in until the day of handover. If I tell the bank that I wont handover the cheque until Im happy they are in and working properly, do you think they would still issue the cheque??? Id think this would be a common scenario with appliances going in later??? congrats on your upcoming handover too!!! so close you can taste it!!! Once I receive the invoice, the bank said they can send their valuer out. they just wont issue payment until they recieve the occupancy cert. But im pretty sure that is booked for next tues. so hopefully will receive that before next friday. Our walk through is on the 28th. It so close to the end now. Living in Caloundra Thread****** Lovin my house all finished!!! Now tackling the HUGE task of the Garden- viewtopic.php?f=31&t=14782 Re: Handover Help?? 4Jul 21, 2009 7:54 pm That is terrific mellybuilding. Our appliances are in but the hot water service and spa pump are not as they tend to disappear. We (perhaps stupidly) gave authority for the bank to issue the payment as soon as all ok with the valuer. We have full trust in our builders. Have you been told it might be a few days for the valuer to become available. Not sure how all the banks work. Very close for you now too Re: Handover Help?? 5Jul 21, 2009 8:02 pm oh no, had your tanks been stolen??? We had been doing electronic payments to our builder, but for handover the bank and builder want to do a bank cheque- which im happy with cos once they give it to me. I can hand to the builder on handover day once im happy all the stuff we pick up in our walkthrough has been corrected. Im sure if I mention to the bank, I will not hand over the cheque till im happy they will hopefully disregard that the appliances arent in yet?? I might just double check with the bank tomorrow. I get to call our flooring people and give them a date to come in and do our floorboards.!!!! 3 weeks till i move in and have floors. Im just over the moon. Ive been so happy with our build Glad you are happy with your builders too!! It makes it such an enjoyable experience when you can trust the builders will do the right thing!! Living in Caloundra Thread****** Lovin my house all finished!!! Now tackling the HUGE task of the Garden- viewtopic.php?f=31&t=14782 Re: Handover Help?? 6Jul 21, 2009 8:17 pm Is your bank branch local so that you can pick up the cheque? Our prob is although we are with the CBA we have been dealing with a contact in QLD, and so we decided it might be quicker to get a transfer straight to the builders account rather than organise a cheque locally. I do wonder how handover works in that case. We will be keeping in touch with the bank to get the exact the date/time the money will go in. All too much for me sometimes No they have not been stolen just will not be put in til the last minute as we have had a few things go walking from the site Very exciting to be getting floorboards. Can you give advice on how to get missing certificates needed for a form 21? Our bank requires us to provide one but we are missing 4 building certificates from our first… 3 71777 yes it does, you've just not understood it. theres a difference. 4 5314 Your house should come in "as new" condition. It should be clean, and without stains 1 4550 |