Browse Forums Building A New House 1 Mar 26, 2012 2:36 pm Just hoping to get some feedback, ideas on what home owners have been able to negotiate, regarding the popular 'negotiable' areas of Schedule 1 of the HIA New Homes Contract: 6. Percentage if Contract is ended - 20% 7. Number of Days to make Progress Payments after stage completed and noticed received - 7 days 8. Agreed Interest for late Progress Payments - 20% 9. Agreed damages for late completion of the Building Works - $250 per week 10. Percentage applicable to extra work - 20% 12. Agreed damages for delays - $250 per week The areas that most interest me are 9 and 12 which I would at least like to cover my mortgage payments - $750 per week. Re: Building Agreement - Common Q+A's 2Mar 26, 2012 3:51 pm Negotiating on damages for delays is a problem. If you want a larger damages amount the builder is likely to want to extend the construction period or put the overall price up to cover his risk. The Harder You Try - the Luckier You Get ! Web site http://www.anewhouse.com.au Informative, Amusing, and Opinionated Blog - Over 600 posts on all aspects of building a new house. Re: Building Agreement - Common Q+A's 3Mar 26, 2012 7:47 pm I'm no expert but I'm not sure how you would go negotiating the price for a late finish because the $250 a week is not meant to cover your mortgage, it's supposed to be for rent if you need to stay somewhere until the house is completed. Kayla In NSW the maximum deposit for building work is 5% until the builder provides HBCF insurance 1 4785 Hi All, We signed a prelim agreement last year (May 2022) and paid deposit to a builder. However, we didn't go ahead with them and never signed a contract. We ended going… 0 2276 You need to respond to the Builder within 10 business day advising of your rejection of claim as per SoPA on a payment Schedule, Do not miss this deadline. 3 7228 |