Browse Forums Building A New House 1 Jul 16, 2007 10:49 am Hi All,
We are not far away from settlement yay! A couple of queries though....I have not been given an actual date as yet, just been told by the end of the month or maybe 1st week of Aug. Is this normal? How does one give notice on a rental? Also with the final payment it needs to be in their bank 72hours before they will give you the keys. Can you ask the bank for a bank cheque to give to them and can we hold onto it until they complete any work that may need to be done? What is the normal process of handover? Any answers will be appreciated. Re: Final Payment 2Jul 16, 2007 12:08 pm Interesting questions. I would also like to hear from some people who have just gone through a final handover.
But with respect to giving notice to rental, I would leave a week or two up your sleeves regardless, if not a month. You can't expect that you won't find any small issues at the final inspection that would need to be ironed out before you give them the check. Moving into a new house is not the same as just buying a place - there are always bound to be some teething problems I would have thought. Currently Building in Bayside (Brighton East) Re: Final Payment 4Jul 16, 2007 1:09 pm The builder gave me 5 weeks notice to final inspection. Then 2 weeks after that is the handover.
And yes the builder needs a bank cheque for the last payment. What happen is as soon as the final inspection is done then the bank will do the valuation (you need to arrange this with your bank). Within a few days the bank will release the cheque (provided the builder has given the certificate of occupancy to the bank). I am building with Henley and my handover date is 17th August ... Re: Final Payment 5Jul 16, 2007 3:56 pm Hi Tam
You should give them a bank cheque once you are satisfied with everything concerning the construction. I know of people who have held on to the final payment until each and every quality inspection sticker has been dealt with in the house. But, there may be contractual/legal problems if you hold on to the final payment for too long. Good luck 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 8226 nothing to do with salespeole. you'd do well to read and ccomprehend the post before bashing away at the keys with some negative comment again. 4 4830 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 4747 |