Browse Forums Home Finance 1 Feb 10, 2012 12:51 pm Hi all First time builder so sorry for the stupid question. Do the bank do a final inspection prior to issuing the last payment?? Our builder has advised us that they are happy to include provisional sums for the carpet and timber floorboards. They will then give us the money after construction to complete this ourselves. Will this work? Interested to hear how others have done this. Thanks Re: Final bank construction payment 2Mar 28, 2012 4:18 pm With my bank, the loan for the construction is ready and waiting along with the provision of floorboards and carpets, paving and A/C. Once the house is built they apparently do an inspection before they release the final funds which were set for the house only. Any other funds you had approval for may stay as available but only once th work is done Once I have put in the carpets/floorboards, done the paving and had the AC installed the bank does another valuation (They said they do an inspection after each one charging almost $300 I want to avoid paying 3 x ) so I've said I'll cut a deal with my workers and get all the work completed before they bill me, so when the bank comes out they see all three items at the one and give me my money...or pay the bills for me BB Barossa Bubbles Building own design Fairmont Homes viewtopic.php?f=31&t=51265&hilit=Barossa+Bubbles Roof on-bricks next 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 11876 How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 11933 There is no reason why building contract reconciliation cannot be done prior to handover, if the builder won't do it get someone to do it for you. Why would you pay for… 3 6690 |