Mar 20, 2008 4:08 pm
I've just received a progress payment for 2nd fix which is the last payment before handover.
My approximate completition date is June, does this sound seem like they are requesting funds a bit early?
This is the 3rd progress payment I've received in a week. They were late sending out the 3rd progress payment so they sent it with the 4th one and I received it last Thursday.
Re: Progress Payments2
Mar 20, 2008 6:03 pm
check your contract then check the house. What constitutes "2nd fix"? If the work is done, then they aren't asking for it early. Yes, it's a pain in the butt paying out large lump sums months before your handover, but it is what it is.
The real issue here is (assuming the 2nd fix work is complete) is why the builder needs an extra 3 months to reach practical completion..
You never know, you maybe one of the lucky ones that will have your house completed early.
Re: Progress Payments3
Mar 20, 2008 6:07 pm
as blackmax said, if they have completed the stage as per your contract, then they are right to ask for it.
That does sound like a long time to complete the rest of the work though....
Built Porter Davis "Dromana" 2007.
Re: Progress Payments4
Apr 01, 2008 9:49 am
If it is the standard, "New homes Contract October 2004 of the HIA Members", read schedule 3 "Lock up stage" and the meaning.
It states, "Lock up stage means: the stage when a home's external wall cladding and roof covering is fixed, the flooring is laid and external doors and external windows are fixed (even if those doors and windows are only temporary)
I am unsure what this "2nd fix" stage is but if you are getting the flooring put in by your builder, according to the contract your are entitled to make lock up payment after they have completed the flooring, which we all know is one of the very last things that happen.
Gav & Vanessa Building In Melbourne (Sth East Suburbs)
Rawdon Hill Construction - Canterbury Heritage
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ponzutwoFirst Progress Payment and DBI insured amountFirst Progress Payment and DBI insured amount
nothing to do with salespeole. you'd do well to read and ccomprehend the post before bashing away at the keys with some negative comment again.
ponzutwoBuilder 550 days into a build, and little progress on siteBuilder 550 days into a build, and little progress on site
you must be new to the internet