Browse Forums Building A New House 1 Aug 07, 2010 12:56 pm Hi all I am building my first house in nsw. I have paid $5000 deposit to the builder for drawing the plan and submitting the plan to council for approval, and this have taken about 3 months. Now, it comes to the stage of signing the contract. After viewing the contract, i think the contract is just so unfair: I need to pay 12% interest for a late payment, but if the building is delayed, the builder need only pay me $15 every working day, that's $75 every week. The building period is 30 weeks plus 5 weeks Christmas holiday, and i can only bring an action to them only when the building works are not completed within 18 months. I think maybe I should hire a lawyer and negotiate with the builder, but my friends told me the builder will not accept this, and if I quit, I will lose the $5000 deposit, the 3 months work and the lawyer fee. So, is this the same in your building contract? maybe every builder is just the same and I am afraid I can only accept this? thanks tony Re: home building contract 2Aug 07, 2010 2:22 pm We're building with Eden Brae and yep ours was pretty similar. Don't even get me started on the contract for the land!! This was the one that really pi$$ed me off! It's their terms and you either accept or you don't however your deposit is non-refundable. Building an Eden Brae Saville 27 http://karry327.blogspot.com/ Building thread https://forum.homeone.com.au/viewtopic.php?f=31&t=44247 Re: home building contract 3Aug 08, 2010 2:44 pm karry327 We're building with Eden Brae and yep ours was pretty similar. Don't even get me started on the contract for the land!! This was the one that really pi$$ed me off! It's their terms and you either accept or you don't however your deposit is non-refundable. thanks for your reply, I think all builders are just the same and now i can only accept it Re: home building contract 4Aug 08, 2010 4:13 pm We too were very disappointed at how one sided our contract was. We tried to negotiate a few of the terms but could only get them to budge on one. They upped the amount from $15 a working day to $30. Unfortunately $150 a week is not in line with other states but what can we do...they have us over a barrel so to speak. Re: home building contract 5Aug 08, 2010 4:16 pm That seems abit low... is that what is written in your HIA contract as bare minimum?? Have you contacted HIA and asked them? Ours is $250/week but we're in VIC Re: home building contract 8Aug 09, 2010 12:30 pm This is why the contract needs to be negotiated before you pay the builder even one cent. Once you've paid $5000 and had the plans submitted to Council, you have no neotiating power left. And this is the way the builders like it! Demolition August 2009, Construction Started September 2009, Completed December 2010 Re: home building contract 9Aug 09, 2010 3:21 pm tony2000 what about the house you have chosen, do you like it? You talk about deletions, are they variations or PS and PC adjustments? pleas list them 1 17221 I've decided, after a period of confusion (my building broker told me it's probably not worth it to use a lawyer, but others have said it is a must) that I definitely will… 7 28277 |