Browse Forums Building A New House 1 Jun 24, 2011 10:24 am Hi everyone, I hope you can give me some advice. I received my building contract from Clarendon yesterday and I just wanted to get some info on what is in the contract and what most people do. 1) Do most people get a solicitor to go through the contract for you? 2) To date we have signed 4 Post Contract Variations before we even had the contract in our hands so I thought they would at least include these in the contract so that in the contract that goes to the bank these costs were included. Is this common practice and when I do give the contract to the bank do I just attach the variations? The problem is they have evn given a breakdown on the amount of each payment due and this will have to change as well as we have around $20000 of expenses to add. 3) We have a 30 week build guarentee but for a single storey I would of thought this would be less, what is the average time a single storey build would take? 4) Is getting really exciting but quite daunting at the same time what are some things I should be looking for in the contract? Any information would be appreciated. Thanks Mel Melissa Building the Kenthurst by Clarendon at The Ponds Re: Building Contract 2Jun 24, 2011 11:04 am 1) I brought my dad along to the signing party and we all read through it. We didn't use a solicitor. If you use a solicitor, you don't get a cooling off period. 2) We sent the variations to our mortgage broker, she handled everything. The bank doesn't need them to be in the contract. 3) That sounds reasonable to me. The important thing is the liquidated damages if they go over time, and to clarify when the 30 weeks starts and whether that's 30 calendar weeks, and if extra days on top of the 30 weeks will be added for bad weather and so on. 4) Make a spreadsheet listing every item you think you should have based on promotional material and discussions and agreements pre-contract. Then make a spreadsheet listing what's in the contract, and what's in the variations. Check that it matches. If possible, show the contract and variations to someone who has built their own house, as they will know what to look for. When I looked through my contract most went over my head, but now after building the house I know the purpose of maybe 80% of the stuff in there. Metricon Riva 33 - http://herlihy-riva.blogspot.com Site start 15/03/2010 - Handover 23/12/2010 9 months and 8 days (284 calendar days) from site start to handover You talk about deletions, are they variations or PS and PC adjustments? pleas list them 1 16568 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 27957 |