We have gotten to contract stage with a builder (standard HIA) and land contract.
I have been looking over it closely don't feel 100% comfortable, especially after comparing with the standard template and discovering that there was no liquidated damages clause at all in our contract.
- A few things I am concerned about is we have a "fixed price cost" but we never received a cost break down by item just our variations, is that standard procedure?
The H&L package was advertised and we made adjustment to what we wanted but never saw a cost breakdown as such for what was budgeted for footings etc.
- We haven't done selections as such yet and there is clause about variation/ payment for variations. Builder assures us we wont have to pay that for selections.
- Should they provide a certificate of insurance to us prior to signing? I imagine its in our best interest to make sure of it.
Build contract included 1x facade drawing and standard plan with approximate dimensions and site plan, specifications list and detailed specification inclusions.
We have paid 3k as a desposit so far.
We have asked to know whether we have an easement on our block as there is a clause in our contract and they have said no but the agent wont/ hasn't supplied proof of that. (land is still titling, but all infrastructure is in)
The developer has also rejected all of our changes recommended by our conveyancer saying that they wont change the contract for one person when hundred s sign as is .
Not even one change was accepted for a 14 day settlement instead of a set day (we are using Homestart that have delayed settlement anyway so we though they would be a little flexible on that)
I know it is what is is and we either sign it or we don't (thats what everyone generally says anyway) but being new to this I would rather know as much as possible.
I would love any advice of what to look out for.
Thanks in advance!