Browse Forums Building A New House 1 Jun 10, 2010 12:38 pm Hi H1ers We are quickly approaching completion and I am very confused to what happens next (freaking out in fact). Construction is in the western suburbs of Melbourne. Builder is expecting Certificate of Occupancy within the week. They have told us they do not need appliances, carpet, driveway, etc installed for this - is this true? Builder said they and us need to be on site when private inspector comes out and this is done after the CoO. I have looked at other H1 threads, often the order of events is different. There is still a lot to be done - door handles, patching up the paint, grout, etc... - When exactly do I organise for my private inspector to come through? - When do we get issued with the final invoice? - When does the bank need to come through? - How do I dispute their errors and how does this affect payment date? I have heard the builders side of how and when each process should be dealt. What are your opinions and experiences? Thanks muchly Re: Certificate Occupancy, Inspections, Handover - Confused! 2Jun 10, 2010 4:22 pm Hi Mortgage2009 It is true the CO can be issued without applicances but a note is made that things like hot water and ovens are yet to be installed. Our builder allowed our inspecter to do his inspection before the PCI (ss was not present) and many of the issues had already been addressed before the formal PCI. -COO issued. -Final Invoice received. -Independant Inspection arranged. -Bank received final invoice, arranged their inspection and final payment in a bank cheque. -PCI Inspection. -Handover inspection and final payment. You should receive a list of things that your builder agrees to fix at the PCI inspection with a time limit for them to be done by (usually handover), on handover day our builder gave us back the list and we had to intial each item that was rectified. Hope this helps and goodluck. Re: Certificate Occupancy, Inspections, Handover - Confused! 3Jun 10, 2010 7:07 pm mortgage2009 When exactly do I organise for my private inspector to come through? mortgage2009 When do we get issued with the final invoice? mortgage2009 When does the bank need to come through? mortgage2009 How do I dispute their errors and how does this affect payment date? mortgage2009 Thanks muchly Note: above information based on our experience with Henley Re: Certificate Occupancy, Inspections, Handover - Confused! 4Jun 12, 2010 1:37 am hi everyone, got a question, what is the purpose of the bank do evaluation on the house? if the bank see lots of defects (red dots) in every corner of the house, will this effect the final payment? I am very confused about this, hope someone can answer this. thanks Re: Certificate Occupancy, Inspections, Handover - Confused! 5Jun 12, 2010 9:11 am p34c3 hi everyone, got a question, what is the purpose of the bank do evaluation on the house? if the bank see lots of defects (red dots) in every corner of the house, will this effect the final payment? I am very confused about this, hope someone can answer this. thanks Re: Certificate Occupancy, Inspections, Handover - Confused! 6Jun 12, 2010 9:41 am Some banks need TWO WEEKS to organise the final payment. And then they still can't get their act together to have a simple bank cheque ready for collection on the day. Ring your bank NOW and ask them what they need from you. They will want a copy of the COO - the builder will probably fax it to them, but never assume.... They will also want a signed authority from you to complete the final payment, and they will need evidence of insurance, so get onto that now too. The insurance company will usually send a copy of the policy to the bank once you've arranged it. Your bank might have other requirements, so check with them. Don't leave anything to the last minute. Re: Certificate Occupancy, Inspections, Handover - Confused! 7Jun 12, 2010 9:44 am yeah all banks are different, so call them now, book in a final inspection for when it WILL be ready for final inspections (ie. what builder says will be ready) and they should come for then, I would think it would take a week to arrange final cheque to builder. A thankful person is a happy person. [/color]My hobby design blog: http://aviewondesign.blogspot.com/ Re: Certificate Occupancy, Inspections, Handover - Confused! 8Jun 13, 2010 1:49 pm Aaron & Erin p34c3 hi everyone, got a question, what is the purpose of the bank do evaluation on the house? if the bank see lots of defects (red dots) in every corner of the house, will this effect the final payment? I am very confused about this, hope someone can answer this. thanks Thanks Aaron & Erin, I just read your thread. Love your house. Good luck with your PCI Re: Certificate Occupancy, Inspections, Handover - Confused! 9Jun 16, 2010 12:29 pm Thanks mdzzj and A&E! Lender has been contacted, they want the final invoice and CoO with our authority form faxed to them once we have received it. They will then organise a valuation and prepare the final cheque for our collection. Insurance lined up also!! Now we wait..... Re: Certificate Occupancy, Inspections, Handover - Confused! 10Jun 16, 2010 12:31 pm Congratulatons!!! The whole process seems quite daunting at first... but you'll get there in the end! Re: Certificate Occupancy, Inspections, Handover - Confused! 12Jun 16, 2010 2:01 pm Thanks A&E - I have been keeping check on your thread - looking forward to your OCI updates! Mervyn, I contacted just about everyone, RACV, Alliance, AAMI, the lot. We're insuring at $300k construction, $65k contents, fusion, nominated jewellery and collections and the best by far was CGU, Alliance and RACV. We bank with a CGU affiliate so got a discount. They also have no penalty when pay-by-the-month. CGU included a lot where others allowed you to nominate it, so if you are not after above average coverage, CGU may be expensive. I am a Bronze RACV member. Now looking at alarms... Hope this helps! We are in NSW and require 2 positive covenants to be placed on the property didnt really underdtand this but apparently it will take a few months, and have just been… 2 7457 0 5676 I don’t think so as the floor area over 300 square meters then it is class 3…. 12 17934 |