Browse Forums Building A New House 1 Sep 20, 2017 8:33 pm Hello, I am just wondering if you have a choice in payment schedule. We are due to sign contracts and the HIA payment schedule is crossed out and they want to use method 2 which has payment percentages front loaded and instead of HIA stages they also use percentage completed. I have asked to use method 1, the HIA payment schedule by stage (not percentage completed). I stupidly said our bank needs it and they have asked for written proof from bank before they will change it. I don't have written proof but I didn't think I needed it. Can someone please advise if they can force us to use their payment schedule? I know we can walk away but I would like to build sometime soon! Thanks. Facebook group: https://www.facebook.com/groups/853390798159713/ Re: Do you have a choice of what payment schedule to use? 2Sep 20, 2017 8:55 pm inexp_user Hello, I am just wondering if you have a choice in payment schedule. We are due to sign contracts and the HIA payment schedule is crossed out and they want to use method 2 which has payment percentages front loaded and instead of HIA stages they also use percentage completed. I have asked to use method 1, the HIA payment schedule by stage (not percentage completed). I stupidly said our bank needs it and they have asked for written proof from bank before they will change it. I don't have written proof but I didn't think I needed it. Can someone please advise if they can force us to use their payment schedule? I know we can walk away but I would like to build sometime soon! Thanks. Just speak to your bank. I'm sure they will give you a letter saying they require the payment schedule you want. I know our bank has said they would. Re: Do you have a choice of what payment schedule to use? 3Sep 20, 2017 9:37 pm inexp_user Hello, I am just wondering if you have a choice in payment schedule. We are due to sign contracts and the HIA payment schedule is crossed out and they want to use method 2 which has payment percentages front loaded and instead of HIA stages they also use percentage completed. I have asked to use method 1, the HIA payment schedule by stage (not percentage completed). I stupidly said our bank needs it and they have asked for written proof from bank before they will change it. I don't have written proof but I didn't think I needed it. Can someone please advise if they can force us to use their payment schedule? I know we can walk away but I would like to build sometime soon! Thanks. I just told my building coordinator I wanted the other payment schedule before I would sign the contract and she agreed to change it. I didn’t need a reason. - View my blog at www.waldorfgrangebuild.wordpress.com Re: Do you have a choice of what payment schedule to use? 4Sep 21, 2017 4:19 pm Thank you for the replies, they have agreed to add a pcv with HIA schedule. Facebook group: https://www.facebook.com/groups/853390798159713/ 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. 4 5048 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 8936 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 5010 |