Before you ever sign the home building contract, you have to read it carefully, check it and assimilate the contract document completely? You have to ensure that only one recognized form of building contract is being used, such as the one published by Housing Industry Association or the Master Builders’ Association. Beside, the contracts documents have to include the ‘Schedule of Particulars’ or an Appendix, Plans and Specifications.
If any part of the documents is not understood, you have to ask questions or consult your own expert or get legal advice. Always, ensure that you know what are your own contractual obligations, as well as that of the builders. If you are not comfortable with any aspect of the contract and may want it altered, this is the time to affect that. You have to ensure that the contract is not a ‘Cost Plus’ one.
If it was constructed to be a ‘Cost Plus’ contract, you have to be informed of the consequences of appending your signature to this type of form. Consult with any independent consultant or builder to get full explanations to it or consult a legal professional about a cost plus contract. Will the contract need the submission of progress payments at the various stages of execution of the construction, then at what terms, are these satisfactory to you and the financing company.
Do have to do any specific construction job yourself? Then, have you double check the contract conditions with respect to some factors. The following home Building Contract factors should be look at: The time delays that will arise as a result of your involvement in the construction, the effects on the entire warranty of the building. Do you need to get a separate owner-builder, oven repair company for any approval for any of the work that you have to carry out? Are there any materials to be provided for inclusion in the home, like light fittings, kitchen equipment ovens stoves or spa.
Then, you have to ensure that the builder insurance covers the loss or theft of these materials from site or damage after installation. You can find United Electricals information for Technika appliace repairs in Melbourne here and Double check the piping; cabling is of adequate rating and capacity to power the appliances ovens , hot water , rangehood , stove, as part of the integrated system, before commencing the house construction. Have the dates or time periods that the fixed contract time scheduled to start and finish be considered. What are your rights in the projects and what are the builders’ rights too, incase, if the builder over-run the initial contract construction period, what provisions are made towards that.
Do you have the allowances for ‘Provisional Sums’ and Prime Cost Sums’ factored in and do you know the exact meaning of these terms? Are you in position to ascertain the exact amounts that will be paid to the builder or contractor and how this will be determined? If you do not understand or in doubt, ask your builder or an independent consultant or builder to give you more information on it. Is there provision in the contract, the price for fixing the items covered by ‘Prime Cost Sums’ by the builder and not just for supplying them? In the area of tiling and tiles, double check the dimensions involved and how many square meters will be needed and be sure this is stated in clear terms in the contract documents. Is there any aspect of the contract documents that you are not satisfy with? Then, these aspects can be altered.
Any alteration should be in written form and appended to both parties. Is the entire contract documents finalized? No blank spaces are allowed in this type of documents and all the points discussed must be included. Equally cross check the Schedule of Particulars very well to ensure that everything is included. This document can be useful to you. Going through the Notice for the Home Owner is a prerequisite by law, which provision is in the Home building Contracts Act 1991.This Notice is to be given to you by the builder, when the value of the building work exceed $7,500 but less than $500,000.If there are still any questions that bothers you on your rights and obligations under this Act, you have to consult a legal professional before appending to the building contract or paying any deposit.
Have you been provided with any copy of the Home Indemnity Insurance Cover for the proposed building project before making the initial deposit? Then, you have to know what deposit, you have been asked to pay? There is a six and half percent of the entire contract sum if the value of the home building contract is around $7500 to $500,000.Is there any confirmation of Government or other financial assistance received if this is applicable