Browse Forums Building A New House 1 Aug 23, 2016 8:46 pm Hi all, First post here, so I hope I'm in the right section. To bring you up to date, we are subdividing a block of land, and building a custom Hickinbotham home. The whole process has dragged out, and we've done things a little backwards. We needed the land title before we got finance approval, and we needed a house plan before we got division approval to start on the title, to cut a very long story short. So, therefore we have completed everything with the builders in the meantime, and now just waiting on the title to be finalized, and we are one step away from finance approval. There's been nightmare after nightmare along the way, but we are so close now it's exciting. The latest hiccup is, the bank have requested Hickinbotham to change their progress payment schedule, apparently they haven't added the variations into the total, and are asking for more than 20% for the initial payment. I can't find in our build paperwork where Hickinbotham have written their schedule, so I can't compare it to what the bank have requested, I will call tomorrow to find out more. My partner called Hickinbotham about it, and they've told him that it's against their policy to change it, and they deal with this bank all the time, and sent the bank some documents stating why legally they can't change it. The bank are basically saying, if they want their money, they'll change it. Has anyone been through this before? What was the outcome? Also, does anyone have info on current Hickinbotham progress payment schedule? I'm really quite stressed about it, and it's playing on my mind. So thought I'd ask here first, but will be making more phone calls tomorrow. Was hoping for others experiences if any. Thanks for listening 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 11781 8 6119 A quick update, we didn't have site start before Easter. Summit can't seem to give me a day when they are scheduled to begin, so I'm left with a vague "within 10-20… 4 26734 |