Browse Forums Building A New House 1 Jun 12, 2016 7:24 am I’m going to have to seek legal advice on the matters below. In the mean time I wondered if anyone else is familiar with these subjects. I am sharing the build with a builder. I am also financing 70% of the build myself. And have just received the builder’s contract. [1] The builder has requested I provide a Guarantor (see image). Fifteen years ago when I last built a house the builder didn’t require this. Is this standard practice these days? I cant imagine my bank wanting to indemnify the builder, nor had I factored in the need for a third party to go Guarantor. Do insurance companies typically provide a Guarantor service? [2] The builder wants the right to place a caveat over the property if I withhold a payment (see image). Which is reasonable if I’m in the wrong, but what if I’m in the right? Can they still place a caveat over the property? [3] The builder wants me to pay them if they go over their anticipated build period (see image). If, hypothetically, bad weather takes the site out of action for say 4 weeks, I have to pay the builder a fee if they go over their anticipated build period. If, hypothetically, the builder’s supplier runs out of stock and the build is delayed, I have to pay the builder a fee if they go over their anticipated build period. "anything done or not done by the Owner"...... Is paying the builder if they go over their anticipated build period standard practice these days? Like ⋅ Add a comment ⋅ Pin to Ideaboard ⋅ Re: CONTRACT Questions 2Jun 12, 2016 9:33 pm I think you need to get proper legal advice on that contract, the terms seem very different to what I received from my builder and probably have other gotchas buried further in the document. Re: CONTRACT Questions 3Jun 13, 2016 7:28 am I will do that, just thought I'd ask in the meantime and you are right, looks like there a good amount of "gotchas" in the document pauldab I think you need to get proper legal advice on that contract, the terms seem very different to what I received from my builder and probably have other gotchas buried further in the document. You talk about deletions, are they variations or PS and PC adjustments? pleas list them 1 16568 Personally, considering your layout (study/work desks in bedrooms), I don't think you have any other option but to leave NW windows and make them as big as possible e.g.… 7 10482 We had this happen to us last year and got charged a variation. Try and give away as much as you can that is usable to charity otherwise if you are in Sydney I have a… 1 4506 |