Browse Forums Building A New House 1 Feb 02, 2010 7:46 am Hi everyone, We are in the final stages of buildings and talking to our SS last week, he said the house "should be ready by mid february". We are just wondering what happens when the house is ready i.e. do we have PCI? After PCI how long do they take to fix the issues that we raise ? - I know it depends on the problem of course but generally how long? And then do they have a seond inspections and set a date for handover? We are trying to gauge some time frames because we have to give notice to our real estate as well. Any advice and handy tips? Re: Time frame from PCI to Handover 2Feb 02, 2010 7:58 am There seems to be a lot of variation between builders. Our builder took just over a week to sort out all PCI issues. We had a date and time booked in for handover at their office, with a walkthrough scheduled with the SS immediately before. They just made it - the fixing carpenter was finishing off things while we did our final walkthrough. There were a few bits and pieces still outstanding, but we completed handover anyway, as we had to be out of our rental accommodation. We moved in a couple of weeks before Christmas, and most of those things got sorted over the next couple of weeks before the holidays. Some of the paint touch-ups were done in the new year though. Re: Time frame from PCI to Handover 3Feb 02, 2010 8:18 am Congrats on the house nearly being finished.. We had a week between PCI and Handover. Our handover was nearly delayed due to bank delays having the final $$$ released, but all worked out in the end. If your planning on timeframes for notice, think about some of the things you may want to do to the house prior to moving in. Things like a really good clean or sealing the tile grout. Much easier before moving in. Re: Time frame from PCI to Handover 4Feb 02, 2010 8:34 am I had a week as well. It really does come down to your builder and also what needs to be fixed 'A bottle of wine contains more philosophy than all the books in the world.' Louis Pasteur Vegie garden: viewtopic.php?f=19&t=27637&start=0 My Backyard Adventure Re: Time frame from PCI to Handover 5Feb 12, 2010 10:27 pm lisanne I had a week as well. It really does come down to your builder and also what needs to be fixed Our builder says that there will be 2 weeks between the walkthrough and handover. Can someone please explain exactly what you do in a walkthrough, sorry for sounding ignorant... [i]We built in Point Cook and are loving our new house. Re: Time frame from PCI to Handover 6Feb 12, 2010 10:40 pm I"m pretty sure in the walkthrough (PCI) you go through and check EVERYTHING in you rnew home with your SS. You make a list of any defects and things you would like fixed/touched up etc. viewtopic.php?f=31&t=22766 - my build thread! Time waits for no man. Unless that man is Chuck Norris. Re: Time frame from PCI to Handover 7Feb 12, 2010 11:11 pm All my 66 PCI issues were fixed in a week (majority of which were minor paint imperfections), but the bank completely stuffed us around and we didn't get the final cheque until 6 days after our final walkthrough which was a week after PCI. That was probably one of the most frustrating times of the build. Knowing your house is ready and not being able to do anything about it because the bank 'misplaced' our fax of the final invoice... Henley - Wilshire Mk 3 ... I love my house!! Site start: 4th Feb 09 Handover: 10th Sep 09 Blog: http://stormygirlscastle.blogspot.com/ Build Thread: viewtopic.php?t=7166 Re: Time frame from PCI to Handover 8Feb 12, 2010 11:23 pm Hey Guys, Sorry to hijack this thread but Im just wondering about a few things regarding PCI and hand over. We have our PCI booked for next Friday but even if the build is ready for hand over not long after, we have to delay handover until the 2nd week of March as hubby will be away interstate for work. *When does the builder send the final invoice? Is it straight after PCI? *When does the bank draw down that last payment on your mortgage account? Is it a soon as its approved by them or will it be added to your mortgage once the builder has actually cashed the cheque? Just curious about this one because Im trying to work out whether we need to have funds available in our account for the last interest payment as soon as we send the bank the final invoice or if Im safe to keep it in my savings account until the day I hand over the cheque to SS. Again, sorry about the hijack but I figured that some of you that have already moved into your new homes may know what the process is Building: Santorini 26 with M*tricon Where:VIC Site Cut 29/09/09 Slab Complete 09/10/09 Frame Complete 22/10/09 LockUp Complete 17/11/09 Fixing Complete 03/12/09 **My Thread:[/i] viewtopic.php?f=31&t=23110 Re: Time frame from PCI to Handover 9Feb 13, 2010 12:38 am shelz *When does the builder send the final invoice? Is it straight after PCI? *When does the bank draw down that last payment on your mortgage account? Is it a soon as its approved by them or will it be added to your mortgage once the builder has actually cashed the cheque? Just curious about this one because Im trying to work out whether we need to have funds available in our account for the last interest payment as soon as we send the bank the final invoice or if Im safe to keep it in my savings account until the day I hand over the cheque to SS. This is how ours worked, but double check with lender to make sure. Invoice was sent before PCI, about a week before. Bank drew down the last payment when we went into the bank and obtained the bank cheque. Surplus funds were transferred directly into our bank account at this stage also (gap between builders final invoice and approved mortgage was positive in our favour). The last interest only payment occured on the same day that it always comes out. The amount taken was adjusted, part interest payment, part P&I. So it will be a little more than usual. Re: Time frame from PCI to Handover 10Feb 13, 2010 7:57 am if the builder sends the invoice before PCI and at PCI you pick up on things that need fixing,shouldnt you hold on to that cheque till everything is fixed. we are getting a private building inspector,I presume he gets their before PCI .Depending on how long it takes for the builder to fix things ,can we hold on to that cheque? especially if most contracts say that payment must be made within 7 days ? http://andy-riverton30-andy.blogspot.com/ Re: Time frame from PCI to Handover 11Feb 13, 2010 12:11 pm andy if the builder sends the invoice before PCI and at PCI you pick up on things that need fixing,shouldnt you hold on to that cheque till everything is fixed. The final invoice does not have the required in 7 day payment on it. (well our one didnt). Info on final payment: viewtopic.php?f=31&t=28921 Re: Time frame from PCI to Handover 13Feb 13, 2010 1:37 pm You should, well my builder does, get a Final Statement of Account with your invoice. It shows the variations you made and how much has been received to date. If you have to pay money beside what the bank pays, this statement shows you what you owe. Built with New Generation (Summit Homes) We own land!... with a slab on it! Plus a shell of a house with stuff inside ! Re: Time frame from PCI to Handover 14Apr 08, 2010 9:53 pm my understanding is you get 2 inspections if at the first one you pick up defects ,then you get another, once the defects are fixed.The final cheque is paid once you are satisfied that all defects are fixed. If they are not ,you hold on to that final payment until you are satisfied.Check your HIA contract and it defers from state to state. Re: Time frame from PCI to Handover 15Apr 22, 2010 1:11 pm A quick question, how long from when you faxed the final invoice to the bank until you had a cheque in your hand? At the moment my bank is threatening to bring down my whole schedule if they take too long Blog: http://funmore-residence.blogspot.com/ Forum: viewtopic.php?f=31&t=21109 Construction Start - 19/09/09 Slab Poured - 21/10/09 Frame Completed - 25/11/09 Lockup - 22/12/09 Fixing - 22/02/10 Handover & Moved In 30/04/2010 Re: Time frame from PCI to Handover 16Apr 22, 2010 3:03 pm maxyb A quick question, how long from when you faxed the final invoice to the bank until you had a cheque in your hand? At the moment my bank is threatening to bring down my whole schedule if they take too long I am with ANZ and always dealt directly with the branch, dropped of invoice on a Thursday, picked up cheque the next Monday. Re: Time frame from PCI to Handover 17Apr 22, 2010 11:05 pm mdzzj maxyb A quick question, how long from when you faxed the final invoice to the bank until you had a cheque in your hand? At the moment my bank is threatening to bring down my whole schedule if they take too long I am with ANZ and always dealt directly with the branch, dropped of invoice on a Thursday, picked up cheque the next Monday. I am with the anz also and I am getting the run around I have a backup plan but really I have given the 7 working days, you would think they could manage it Blog: http://funmore-residence.blogspot.com/ Forum: viewtopic.php?f=31&t=21109 Construction Start - 19/09/09 Slab Poured - 21/10/09 Frame Completed - 25/11/09 Lockup - 22/12/09 Fixing - 22/02/10 Handover & Moved In 30/04/2010 Re: Time frame from PCI to Handover 18Apr 25, 2010 8:59 pm We had out PCI on the 13/04, its now the 25/04 and only one thing on our PCI list is fixed (35 to go)... A bloody joke if you ask me. Interesting... Built with Eden Brae Now building with Fairmont Homes NSW Re: Time frame from PCI to Handover 19Apr 25, 2010 11:48 pm Gildea We had out PCI on the 13/04, its now the 25/04 and only one thing on our PCI list is fixed (35 to go)... A bloody joke if you ask me. Thats not good We have had neraly all ours fixed and it looks like by Wednesday we will be done, just need the bank to pull thier finger out Blog: http://funmore-residence.blogspot.com/ Forum: viewtopic.php?f=31&t=21109 Construction Start - 19/09/09 Slab Poured - 21/10/09 Frame Completed - 25/11/09 Lockup - 22/12/09 Fixing - 22/02/10 Handover & Moved In 30/04/2010 Re: Time frame from PCI to Handover 20May 03, 2010 10:19 pm Now the 03/05, one more thing fixed on our list.... *sigh* SS said possibly settlement on the 07/05... Every week it just seems to get pushed back, I've really just had enough... EB is a joke at this point in time, and would not recommend them in the future. Their build sure is a load of bollocks. Interesting... Built with Eden Brae Now building with Fairmont Homes NSW Yes, I have. But, I haven't paid yet. They know they did not do proper jobs and I sent the email re: final payment, I cannot pay. They said, we will do 2nd PCI. Since… 2 3434 We hired Darbecca to do every stage inspection, and I strongly recommend them to anyone that asks me. They were amazing. Thorough reports with photos at every stage,… 6 5335 i would not be signing anything on the day read your contract about when builder submits final invoice generally, have to meet builder within 7 days of receiving final… 1 2573 |