We finally got the contract on Friday. Only three months after we were expecting them. Unfortunately the contract contains a few areas that make me a little uncomfortable.
- liquidated damages less than HIA standard at $200 per week rather than $250. Which is already very low.
- construction period of 330 days combined with liquidated damages so low there is no incentive for the builder at all.
- and then the big one. $11300 of extra site costs. We have receved 5 previous versions of this pricing all with mistakes and items missing. Never has this cost appeared untilthe last one. Me thinks something sneaky. They have been nice and added a clause about site cost being subject to a review but why only le us know now.....
We'll letyou know how we go.
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I've been reading your blog for a while. I think your builders are really unorganised, I would probably not want to build with a company like that. But if still go with them I'd ask them to increase the penalty fee to about $750 per week, I think it comes down to what you can prove each extra week of waiting will actually cost you...
ReplyDeleteYour contract appears to be a 10mth building time frame, this is very long... are you ok with that?
as for site costs, what are the extra funds for???