Browse Forums Building A New House 1 Oct 03, 2014 6:24 pm Hi, I'm trying to get finance to build my house. Like every bank, my bank requires a 'Fixed price contract' from a reputable builder. My builder has used the HIA Victorian New Homes Contract Template. In this contract it states (p7) "The price of this contract is not fixed, and may be altered as a result of: • Additional costs caused by deficiency or conflict within the Contract Documents (Refer to Clause 16) • Additional building permit fees (refer to Clause 18). • Variations including those required by the council/registered building surveyor (Refer Clause 21) • The cost of providing access where applicable (refer to Clause 26) • Interest on overdue payments (Refer to Clause 31): • The actual cost of Prime Cost Items and work for which Provisional Sums have been specified exceeding the estimates set out in the Contract (Refer to Clause 33) Our contract doesn't have any PC or provisional sums... all of the other points are 'standard' terms from what I understand, but the bank won't accept it because it states 'The price of this contract is not fixed...' Every building contract ever has provision for the price to change. Just that this template states it in simple terms... Has anyone had this problem as well? How did you get around it? Cheers, Mark Thank you so much everyone. This all makes a lot of sense. I guess when you talk to a builder who butters up everything to look very polished, you get to start believing… 7 17518 So AFAIk the outcomes of the BAL ratings form part of a clause that allows them to pass these costs on to you. However the more relevant detail is how did it go from 19… 1 9142 You talk about deletions, are they variations or PS and PC adjustments? pleas list them 1 16543 |