Browse Forums Building A New House 1 Feb 25, 2015 7:34 pm Hi guys, have been stalking this forum in the lead up to my first build and have stolen my fair share of ideas, looking forward to starting a build thread of my own once things finally start to progress. I just have a quick question for anyone in the know. At what stage where you required to pay for your pre start? Builder originally told me (verbally) that it was payable prior to key handover, but are now asking for the entire balance to be payed less 3k (24k total). Nothing has gone ahead yet as titles have still yet to be issued, but they are asking for payment before they proceed any further. Has anyone had a similar experience and is this standard practice? any advice welcome. Thanks, Brad. Re: When did you pay for pre start? 2Feb 25, 2015 9:01 pm We paid our 5% upfront about 12 months before the land even got titled because it was house and land package and Clarendon essentially needed us to "lock in" building with them for us to proceed with anything. According to my progress payment schedule though, if we hadn't already paid prior, it would be paid before the site is cut and before work commences etc. Seems like a standard thing to essentially lock you in to building with them etc Paddington 29 @ Blue Horizon Estate (Lot 105, Wattleridge Crescent, North Kellyville) Our Build Progress Blog: http://light487.wordpress.com/ Re: When did you pay for pre start? 3Feb 25, 2015 9:20 pm We pay ours at the end before keys Our build thread: https://forum.homeone.com.au/viewtopic.php?f=31&t=70984 Re: When did you pay for pre start? 4Feb 26, 2015 7:04 pm Thanks for the feedback guys, Just an update, have been over all my variation and pre-start acceptance forms and they all state that payment must be payable at final account, this may of lead to my confusion as I would of assumed final account would be at the end of the build? If anyone has any more information on what a final account is I would be extremely grateful. Thanks again. Re: When did you pay for pre start? 5Feb 26, 2015 7:16 pm Mine just gets added to the build cost (original contract price + prestart variations) = total build cost which is then split into the 4 progress payments. any variations I raised post signing the contract ( I have raised 2) are payable by mean as they are added to final progress payment. Re: When did you pay for pre start? 7Feb 26, 2015 8:29 pm phonat Thanks Beazley Sounds reasonable enough, were any/all of yours cash payments? Don't know if that has any bearing on the process I haven't paid any cash to the builder for prestart. I paid cash for progress payment 1. I'm also paying half of progress payment 2 in cash, bank is picking up the rest. Then with final invoice/progress payment the bank will pay that and there will be the two variations on it that I have raised recently which I'll pay with cash/eftpos. Hi Mofflepop, I would recommend finding a building designer to prepare plans, they should design to your specified budget. The benefit is you can tender the project out… 9 20419 We've had the offer of a short term tenant whilst waiting for CDC/DA home approval and demolition for our knock down rebuild. It would achieve a pretty low rent as it's… 0 13758 The fastest thing a builder will do is bank your cheque, those systems work perfectly with lightning speed, everything else is slow burn. Just the way it is. 1 8708 |