Browse Forums Building A New House Re: Payment schedule 2Jun 27, 2021 5:42 pm Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: Payment schedule 4Jun 28, 2021 4:12 am Architectural Homes & Duplexes - specialising in custom designing homes to your budget Get a Free Onsite Consultation Today or send a PM for information, questions or advice. Re: Payment schedule 6Jun 29, 2021 8:13 am curiousb Adding to what @ashington Homes said, Most banks have a minimum allowed percentage as the first and final progress payments. For an example, Westpac requires it to be at most 20% for the slab, and a minimum of 10% for the final stage (check page 6). These restrictions are in place to protect you (and the bank of course) so a builder cannot take a exuberant amount of money at the start and just deliver a bad quality product at the end. Curiousb Good post! Exactly, the banks put these in place to protect their money and customers at the same time. They need to make sure that the payments aren't too far ahead of the money actually spent in case there are issues with the builder and someone needs to step in to finish. Cheers Simeon Architectural Homes & Duplexes - specialising in custom designing homes to your budget Get a Free Onsite Consultation Today or send a PM for information, questions or advice. 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 11869 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 6687 1) I had requested R6 ceiling insualtion batts, however I noticed that on some areas there are huge gaps which will allow hot air to sweep in, and also noticed black/grey… 0 3597 |