Contracts
Understanding Contracts – Liquidated Damages
There is the opportunity in the standard new house building contracts to be compensated if the building takes longer than the agreed ‘Contract Period‘. This is called ‘Liquidated Damages’. The basis of the ‘Damages’ that the builder is likely to…
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How Much Should Stage (Progress) Payments Be
When you contract someone to build a new house you are required to make regular payment as each STAGE is completed. . . . But how much? Well builders want to get paid as soon as possible so they will…
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Contract Documents – Order Of Importance
Of course the contract documents are the most important thing when organising the building of a new house. However not many people realise that some parts of the contract document are more ‘important’ than others. All three of these parts…
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No Rush To Sign
I hear a lot of people saying the builder has tried to get them to sign the contract at the selection meeting. They also worry about whether they can change anything. Don’t Rush It’s not as though the builder is…
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Contract Security Clauses
Did you realise that there are clauses about a ‘Security Account’ in a Standard Building Contract? No mortgage? If you aren’t planning on a mortgage because You are downsizing, or Got a house loss insurance payout, or Getting a bank loan….
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Do You Need A Lawyer?
I hear a lot of people suggesting they get a lawyer to review their house building contract. I”m not that sure that is a great idea, and its going to cost a fair bit of money. Issues using a lawyer…
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Why You Might Not Find A Builder Rating
Can’t find a quality rating for your builder? Perhaps you should check your contract before you sign it. Apparently some builders require customers to sign a contract that: ‘Prohibits them from publishing anything about the builder without the builders express…
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Obtaining Quotes 2
I recently posted about using ‘Get Quotes Services’. As a follow up here is my experiences with 2 different companies we asked for quotes from, for our air conditioning. ( We did contact 3 companies but only 2 responded) Staycool…
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Obtaining Quotes 1
I recently moved into a new house and wanted both solar power and reverse cycle split air conditioning so I decided to try a couple of those ‘We will get you quotes’ services with mixed results. Solar Quotes – Reasonable…
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Unfair Contracts
Did you know that there is legislation in Australia that protects you from unfair contracts? Fair Contracts The two most common house building contracts are: The HIA Standard Contract. The Master Builders Association Standard Contract. Both these contracts are considered…
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