Browse Forums Building A New House Re: Anybody built with True Value Homes in Melbourne 17Dec 08, 2019 3:04 pm Norfolk Hi amit75 did your lawyer highlight any clauses in the true value homes contract for your consideration? What is the liquidated damages amount payable per working day for delays? This is typically a key watch out. Any other possible concerns with your contract you considered that other forum members might consider? Like payment timings, independent inspections, work standards, lifetime guarantee terms etc. As the contract is a key milestone for your months of diligent work so far, we are interested in your comments regarding this. Hi Norfolk, the only thing I was concern about in the contract was that they increased the base stage % from the standard 10% to 15%. However, my lawyer said that it is perfectly normal and legal for a builder to do this if they can justify the reasons why this is necessary. In my case, P-class soil and slab upgrade was justification enough to please my concerns and my lawyer was fine with that also. Word of warning though: any % amount greater than 20% of the contract price to the completion of base stage is cause for concern said my lawyer. This means 5% deposit and no more than 15% at base totalling 20% at the completion of the base stage. If any builders are doing this, be warned it is a huge concern for banks and my lawyer said a red flag that the builder wants more money upfront for the work they have done. Other than my concern about the base stage at 15%, my lawyer said everything else was online with the building contracts act and fine to sign. Liquidated damages for both builder and client were standard $250 per week which is default in the HIA contract. Independent inspections are allowed at no cost as long as they are conducted during my progress stage walkthroughs which is perfect as I would like to be there when my inspector is there so there is no communication issues. And lastly, the lifetime structural guarantee is in there and the terms are the same as what the have on their website here: www.truevaluehomes.com.au/terms-conditions/ I will have mors time later this week to post some images of my colour selection and share a link to my contract for anyone to view. Sorry for the slowness of my responses, however work is starting to slow down for me now and I'll have more time to post updates very soon. I am excited to share my experiences, hopefully it is helpful. Amit Re: Anybody built with True Value Homes in Melbourne 18Dec 08, 2019 3:18 pm Hi lightrei, I'll share my contract with you soon so you can see what to expect. This far they have lived up to my expectations and there reviews. Especially after hearing from my brother in-law that all was ok to sign and no need for me to be concerned. There a medium size builder who doesn't do anymore than 12 site starts a month, this is what I was told at contract signing appointment. To me this means they have a more personal relationship with with me and take the time do things right, from my experience so far. They are not like some of the other builders that I have heard my friends speak about through their experiences. If you do choose them to build your home I would be interested in hearing your experience and I'd be glad to help where I can. Amit Re: Anybody built with True Value Homes in Melbourne 19Dec 09, 2019 7:11 am Hi amit75 thanks for your comprehensive response. Did your lawyer brother in law have any concerns about liquidated damages amount being limited to $250 per week compared to your actual accomodation costs per week? I think this should be a watch out item for others in the true value homes contract because it allows them to delay the build at minimal cost to them but high cost to you if you find defects that are expensive for them to fix. Based on their outstanding 90 perfect 5 star reviews in productreview over the past 3 years, I would have expected true value homes to back themselves to deliver a quality and on time build with more realistic liquidated damages per week in their contract. With only a token $250 per week for delays it seems they are not confident they can deliver this, which is in direct contrast with all those perfect 5 star reviews and their own confident statements in the productreview Q&A that I see. I suggest if they are as reliable and focussed on quality as their 90 5 stat reviews confirms, then they should have no problem offering at least $1000 per week liquidated damages in their contract to provide real incentive to perform and confidence to their potential customers. What do others think?
Re: Anybody built with True Value Homes in Melbourne 20Dec 09, 2019 7:30 am Hi amit75 in addition to the liquidated damages, a further concern with the true value homes contract may be limited opportunity for access for independent inspections you mention. Surely ‘reasonable access’ means more than just at the time of stage inspections, correct? After all, the extra inspections will greatly assist true value with extra eyes to deliver good quality workmanship which benefits both you and them. Also, are the progress payments only payable after a satisfactory inspection? Or is payment due irrespective of this? I hope true value homes appreciates my questions here. I consider the more transparent information that prospective customers have via this forums, in addition to the 90 outstanding 5 star reviews about them on other public forums, the more comfortable and confident they may be choosing true value homes. This is a win / win for everyone! I haven’t. But have a Lowe Design home. Not only did I find Matt Lowe patronising and a bully, but the home is NOT TO CODE. I have water coming through the bricks… 1 14590 As a tradesmen get a private inspector although I don't think there worth it in their profession themselves the reminder they serve to the tradesmen doing the work is… 3 27459 They make the room much easier to clean for one, reflect more light (if light colour tiles are used), and you dont end up with dust on the top edge of tiles (cause most… 3 9684 |