Browse Forums Building A New House 1 Aug 20, 2012 8:43 pm Hi, we are nearing the end of our build (I hope anyway) and I'm wondering what happens with the bank etc when we get close to moving in, handover, practical completion? Can anybody advise the usual process please? Many thanks! Build Thread: https://forum.homeone.com.au/viewtopic.php?f=31&t=43846 Re: What happens at completion/handover? 2Aug 20, 2012 9:12 pm When the house is close to being finished the builder will set a day for the PCI inspection See (http://www.anewhouse.com.au/?p=193) Once the PCI inspection is done the builder should have a good idea of the completion/handover day. You can arrange for the finance to pay the final payment. Before that day you need to make sure that the power, water and gas will be on that day. You also need to make sure your house insurance starts that day. On the day you will meet the site supervisor who will be arranging for things like the oven, cook top, range hood, and other expensive fittings are installed. He will hand over the keys and the guarantees for the appliances and things like termite protection. I moved in (by myself with basic furniture) on handover so there was someone there the first night, which is the most likely time the house may get broken into. This gave me time to make sure the yard was dog proof before our dog moved The rest of the family moved in the following week. 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: What happens at completion/handover? 3Aug 20, 2012 9:22 pm I think it depends on the bank Obviously the final inspection is pretty normal. Organise a time and date and do a walk through. Discuss away and hopefully get everything fixed. We are with the NAB and all they require is a copy of the Occupancy Cert and the final invoice, once they receive it they will go and value the house and hopefully make the final payment. We are paying for the variations ourself so we then will pay that and get the keys Re: What happens at completion/handover? 4Aug 20, 2012 10:13 pm Some banks will insist on an inspection to verify everything is done prior to releasing the final payment. They will normally want a copy of certificate of occupancy and also proof of home insurance cover. House - Lockup completed 23rd December 2011 - Painters are in!!! https://forum.homeone.com.au/viewtopic.php?f=31&t=37261&start=0&hilit=Blaxland Re: What happens at completion/handover? 5Aug 24, 2012 11:19 pm I'm looking for these kind of info about OC or IOC. To get OC, do we need to have landscape & retaining walls done too? Once we get OC, will council come & inspect again? Re: What happens at completion/handover? 6Aug 25, 2012 8:06 am bashworth I moved in (by myself with basic furniture) on handover so there was someone there the first night, which is the most likely time the house may get broken into. Hi bashworth. Interesting. Why do you think this is? Wouldn't the people breaking in therefore need to know which day is handover? Which you can't really tell from the outside... SunshineT's Build: viewtopic.php?f=31&t=34585 Designs start: 4/12/09 DA: 5/7/11 Demo: 22/12/11 Slab: 24/2/12 Keys: 31/8/12 Re: What happens at completion/handover? 7Aug 25, 2012 8:30 am SunshineT bashworth I moved in (by myself with basic furniture) on handover so there was someone there the first night, which is the most likely time the house may get broken into. Hi bashworth. Interesting. Why do you think this is? Wouldn't the people breaking in therefore need to know which day is handover? Which you can't really tell from the outside... Any tradie who works on remedying defects will know when the handover date is.(I think most tradies are honest but there are always a few shady characters). Even people working in the area for other builders will be able to see the appliances arriving on handover day. You may think I'm paranoid but 14 years ago I bought the first flat in a new block, moved in and changed the locks and put on a 2nd Lock. The next weekend (while I was away) someone broke into each of the other 11 flats and stole the dishwashers. 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: What happens at completion/handover? 8Aug 25, 2012 8:38 am I was wondering how that works as well. So if our aircon, floors etc etc are being done by other people and not the builder how does that work, does the bank pay the builder, allow us to get the keys and get the rest of the work done and the bank pays the other tradies seperately??? I am confused.com Heidi Re: What happens at completion/handover? 9Aug 25, 2012 8:51 am Banks pay as per the building contract. Whenever I have built I always saved cash for other things that were not in my building contract (ie landscaping etc). If there were excess funds from the amount requested to be borrowed then these were paid into a bank account of my choice at settlement/handover. House - Lockup completed 23rd December 2011 - Painters are in!!! https://forum.homeone.com.au/viewtopic.php?f=31&t=37261&start=0&hilit=Blaxland Re: What happens at completion/handover? 10Aug 25, 2012 10:38 am willcres I'm looking for these kind of info about OC or IOC. To get OC, do we need to have landscape & retaining walls done too? Once we get OC, will council come & inspect again? We have our full OC without retaining walls and landscaping,however our retaining walls are not part of the DA, where as your are, so you may need them for your OC. The final inspection is done by the principle certifying authority, which may be council or a private certified, dependent on who wisdom use. Re: What happens at completion/handover? 11Aug 25, 2012 1:00 pm Thanks everyone. Our bank have confirmed that they don't require any documentation for final payment to be made, which is a relief as we may move in before IOC/OC paperwork is finalised. Just got to clarify with our building manager about the PCI before handover as he has aonly been speaking of handover (but our sales contact has confirmed we will have PCI walkthrough as well) and any defects will be rectified before handover. Build Thread: https://forum.homeone.com.au/viewtopic.php?f=31&t=43846 Re: What happens at completion/handover? 12Aug 25, 2012 2:55 pm gogo65 willcres I'm looking for these kind of info about OC or IOC. To get OC, do we need to have landscape & retaining walls done too? Once we get OC, will council come & inspect again? We have our full OC without retaining walls and landscaping,however our retaining walls are not part of the DA, where as your are, so you may need them for your OC. The final inspection is done by the principle certifying authority, which may be council or a private certified, dependent on who wisdom use. Thanks, gogo. I'll need to speak to the bank then to check if they need IOC before handover. Re: What happens at completion/handover? 13Aug 25, 2012 3:27 pm Wilcres - FYI, Westpac don't. Build Thread: https://forum.homeone.com.au/viewtopic.php?f=31&t=43846 Re: What happens at completion/handover? 14Aug 26, 2012 12:53 am nina marie Wilcres - FYI, Westpac don't. Nina, you mean they don't need IOC or they don't allow us move in without OC? Re: What happens at completion/handover? 15Aug 26, 2012 12:57 am They don't need IOC or OC for final payment Build Thread: https://forum.homeone.com.au/viewtopic.php?f=31&t=43846 Re: What happens at completion/handover? 16Aug 26, 2012 1:01 am Oh really? That's good news. Thanks! Btw, it's 1am....you need to sleep, nina... good nite! Re: What happens at completion/handover? 17Aug 26, 2012 1:06 am Feeding Eliza! And you can talk! I notice you are often up late.... Build Thread: https://forum.homeone.com.au/viewtopic.php?f=31&t=43846 Re: What happens at completion/handover? 18Aug 26, 2012 8:16 pm Ha..ha... Nina, Yes, I'm an owl, I guess... I sleep late like 12am-1am... If I sleep before 11pm, I'll awake very early too like 5am.. So trying to wake up 6.30am coz I only need 5-6hrs sleep... Re: What happens at completion/handover? 19Aug 26, 2012 8:32 pm Gosh, wish I only needed 5-6 hours sleep Build Thread: https://forum.homeone.com.au/viewtopic.php?f=31&t=43846 The concreter will take and reuse. In my case I bought structural LVLs and scraped them back and used them as joists. 1 5152 Like I said the Occupancy Certificate is not the tollgate that marks the completion of the house. The contract defines… 7 10743 Can you give advice on how to get missing certificates needed for a form 21? Our bank requires us to provide one but we are missing 4 building certificates from our first… 3 71811 |