Browse Forums Building A New House Re: First Progress Payment 2Feb 29, 2012 11:49 am Advise that you are authorising the first progress payment in the amount of $???? whatever is stated on your invoice. Our bank already knew the amount as we provided with the % for each billing stage. Hope this helps! Forrestdale 27 Land Titled:4/11/11 Building Permit:4/11/11 Site Start Date: 16/11/11 Slab Date: 01/12/11 Frame Date:05/12/11 http://hordefamilyhome.blogspot.com/ Re: First Progress Payment 3Feb 29, 2012 4:38 pm My builder sent me a written authority form already formatted that I just had to sign and date in the appropriate place and pop in the mail. Rather odd if your builder doesn't do the same to make the process easy. ??? Re: First Progress Payment 4Mar 01, 2012 8:47 am Actually our bank gave us the written authority form already formatted too! All i need to do is call the bank and authorise the payment at each stage and on the last one request a bank check Forrestdale 27 Land Titled:4/11/11 Building Permit:4/11/11 Site Start Date: 16/11/11 Slab Date: 01/12/11 Frame Date:05/12/11 http://hordefamilyhome.blogspot.com/ Re: First Progress Payment 5Mar 01, 2012 7:44 pm becca84 Hi all ive got my first progress payment due for the slab. I need to send written authority to my bank (Bluebay), but what am i suppose to say?? Don't pay the builder for base stage and frame stage until you have seen the approved report by the building surveyor. Builder and/or surveyor are legally obliged to give you the report if you specifically request for it. If you don't specifically request for it, they don't need to give it to you. This is what happened to me: Builder did the base stage and sent me the progress payment. I immediately told my bank to pay up, which the bank did. Unbeknownst to me, the building surveyor didn't approve the base due to a few defects. I only found out later on when I requested for the report that the surveyor gave a fail report. Unfortunately, I already paid. Builder did the frame stage and sent me the progress payment. This time around, I asked the building surveyor for the frame-stage report before paying up. Surely enough, the surveyor gave a failed report with 20+ structural defects. It took the builder 2 months to fix up, until I eventually received a surveyor-approved-frame stage-report. I then payed up, but 2 months after being issued the initial frame stage progress payment. I will not incur interest, because frame stage (and base stage) is not complete until it is approved by the building surveyor. 13-08 Moved in 13-05 Build restart 13-04 VMIA compensation 12-08 Builder liquidation 12-03 Fixing 11-12 Lockup 11-11 Frame 11-09 Slab 11-09 Start 11-07 Contract 10-11 2K deposit 10-06 Titled land 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 11867 There is no reason why building contract reconciliation cannot be done prior to handover, if the builder won't do it get someone to do it for you. Why would you pay for… 3 6682 1) I had requested R6 ceiling insualtion batts, however I noticed that on some areas there are huge gaps which will allow hot air to sweep in, and also noticed black/grey… 0 3597 |