Deterring progressive payment untill all faults are fixed

slon · Nov 14, 2007 6:30 pm

All,
knowing the terrible reputation of the Big M builder (see reviews on bestbuilder.com.au) i nevertheless can not resist the appeal of their Gradview 27 design.

In respect to this situation I'm wondering if it is possible to deter a progressive payment (or at least the final one) untill all faults discovered by an independant inspector are fixed.

I guess the contract should be modified to reflect this condition.
Has anybody tried?

Slon

Michelle · Nov 14, 2007 6:47 pm

bmp · Nov 14, 2007 7:57 pm

i wouldnt recommend it. If you delay payment - they delay longer, and you are likely to have a house that takes over 3 years to build.

We loved th Aspen by M but after so many stuff ups we had to cancel for our own sanity. We were able to find a design by Adenbrook that had all the same aspects that we wanted. And whilst it felt disappointing at first - now i love our new choice and have forgotten the difference between the original choice. Plus watching other peoples difficulties with M has shown us what a big headache we avoided.

But in the end the decisions is yours and you need be happy.

Adrian B · Nov 14, 2007 10:02 pm

You can be witrhin your right to withold payment, as can your bank. If there are major issues that are not rectified and the bank is not happy, they will not release payment.

parker · Nov 14, 2007 10:15 pm

I think you mean defer?

royalblue · Nov 14, 2007 10:22 pm

parker

I think you mean defer?

Or substitute 'with-hold'

Note: You are asking folk what may actually be a LEGAL question. Perhaps you should seek LEGAL ADVICE before proceeding.

Not trying to DETER you!

Good luck with it!

Ash.

Adrian B · Nov 14, 2007 10:40 pm

The banks can with hold payment until the stage meets specifications. You need to remember that banks need to make sure that they can get their money back if needed. Theefore they have a vrested interest in ensuring that the house is correctly built. Our friend's bank withheld payment for final stage as the aluminium alfresco doors ordered were delayed, and temporary slidng doors were put in place. . It wasnt until the bank had a letter of undertaking from the builder that they released funds.