Browse Forums Building A New House 1 Feb 09, 2010 5:33 pm We have just had an invoice for our first progress payment but work hasn't even started on our house yet. I was under the impression that the first payment was at slab down. They are asking for $11000 which they say is for "balance of deposit at completion of administration work". They will not continue with earthworks until this is paid. When did everyone else get their first invoice? Thanks Fiona Re: When was your first progress payment? 2Feb 09, 2010 5:52 pm I financed through keystart and first progress payment isnt due until plate height for me. Did your build costs exceed the total amount that the loan was for? Maybe they require payment up front for this amount. Otherwise check your contract they may require a 5% deposit? Sorry couldnt be off much help...Im sure the incredibly knowledgable people of this forum will help out a bit more Building "DOMAYNE" through COMMODORE HOMES in Pearsall WA Slab down 15-01-2010 Handover 16-06-2010 viewtopic.php?f=31&t=29049 Re: When was your first progress payment? 3Feb 09, 2010 5:54 pm What's written in your contract? It should have the payments listed and at what stage they are due. If the work hasn't been completed for that stage that's identified in the contract, write to them (email) and let them know that it hasn't been done and you wont be paying until it has been. Quite often with a lot of hte big builders the accounts department get told when to invoice but aren't informed of delays '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: When was your first progress payment? 4Feb 09, 2010 5:56 pm If it's for "balance of deposit", then it sounds like you haven't paid the full deposit yet. As said before, check your contract - there'll be a schedule of progress payments in there. Re: When was your first progress payment? 5Feb 09, 2010 7:01 pm Same for us. We paid $3000 to start the whole process of plans, selections, contracts etc... Once we got council approval and the builders were ready to start, we had to pay the "balance of deposit"... for us, the deposit was 5%. so we paid that 5% - $3000 we had already paid. They wouldn't start until it was paid. buzz Re: When was your first progress payment? 6Feb 09, 2010 7:11 pm Legally the deposit cannot be more than 5%. Balance of deposit sounds like you are paying an amount to bring your payment up to 5% of the building cost. Demolition August 2009, Construction Started September 2009, Completed December 2010 Re: When was your first progress payment? 7Feb 09, 2010 8:01 pm Are you a cash client? ie. from your own money. If so then your deposit would probably be around 6% of the total contract price. A $200 000 house comes to $12 000. Built with New Generation (Summit Homes) We own land!... with a slab on it! Plus a shell of a house with stuff inside ! 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 11857 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 6680 1) I had requested R6 ceiling insualtion batts, however I noticed that on some areas there are huge gaps which will allow hot air to sweep in, and also noticed black/grey… 0 3586 |