Browse Forums Building A New House 1 Aug 02, 2010 11:47 pm Hi this is Andrew DH to Jodie76. As you know we are almost at handover but dead line dates are approaching so i was putting the question out there. For those members that have already received keys how long did you have to wait from SS phone call for hand over to receiving cheque from the Bank? I would appreciate any feedback cheers Andrew Re: How long for final cheque? 2Aug 03, 2010 11:13 am Hi Andrew Your builder should issue you with Certificate of Occupancy and the final invoice. You then present these to your lender who will most likely do a valuation before they issue you with a bank cheque for handover. As with most lenders the time will vary from bank to bank. Cheers Re: How long for final cheque? 3Aug 03, 2010 3:40 pm I was extremely lucky (or unlucky) and managed to get the bank to process the final payment in approx 2 days. There was a delay in getting our Certificate of Occupancy, and the bank could not start to process the invoice until they received the certificate. It was pretty stressful and I spent a lot of time on the phone to the bank finding out how it was going. The guy I was dealing with said it usually takes approx 5-7 working days. To make the process quicker, see if you can send the final invoice to them prior to getting the Certificate, that way the bank can start orgnaizing the valuations etc. This would only work if paying the final payment by cheque. Re: How long for final cheque? 4Aug 05, 2010 2:01 pm Things that have happened with us has kept us a bit worried. sent out the final invoice without the Occupancy permit on 28th July go the Occupancy permit on 30th Jul and sent it on 02 Aug. we had an inspection on 3rd and fixed up an appointment for final inspection and settlement for 10th ... still have some time ... when we spoke to our bank we were told to send the final invoice without the occupancy permit to set the ball rolling and this would allow them to organize evaluation... and once they receive the permit the cheque will be issued.... but the bank did not roll the ball until they received the permit ... which has left us a bit worried ... I am giving the bank a hard time hope they do something soon. Re: How long for final cheque? 5Aug 05, 2010 2:25 pm I checked our contract the other day and it says that the final payment is due at PCI. I didn't think the bank would release a final payment until they have the Permit to Occupy and have done their final valuation. Is this in anyone else's Contract and when did everyone else hand over their final cheque? i would suggest nothing is unreasonable for PCI. we did all sorts, including checking the hot water, checking all the GPO's had power, testing that the showers were… 9 98695 Hi, I am approaching end of the build. My final invoice will be given to me soon to pay. Some context before I ask my question. 1. My builder wont do the landscaping or… 0 3870 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 11880 |