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If you have engaged a builder to complete your building project it is crucial to stay well informed in relation to the progress of the build. Progress claims involve large amounts of money, and often even a single progress claim may amount to the largest amount of money you will ever have handed over in one transaction. It is easy during the construction phase to become complacent with handing over money as the builder demands, particularly if the bank is providing the funds.
Don't be fooled by the ease at which these claims and payments are made - the onus is well and truly on you to ensure that the builder has delivered what he is claiming for. If you find yourself in a situation where the builder has over claimed on progress and you have paid him for that claim, the resultant dispute can last for years.
Often the unscrupulous builder has cash flow problems and is over claiming to prop up his business. The cash flow problems result in trouble with payments to subcontractors. Unpaid subcontractors will be reluctant to continue work, resulting in a subsequent reduction in progress.
The reduction in progress results in a reduction in the ability to claim legitimate progress payments and there begins a vicious cycle which may ultimately lead to failure of the business. Unfortunately this has left many prospective home owners in major financial trouble with no prospect of recovering the over payments and a significantly reduced entitlement to Home Warranty Insurance.
We recommend that owners commission progress reports at each progress claim stage as detailed in your construction contract. Usually the claim stages are deposit (no report necessary), base or slab stage, frame stage, enclosed (or lock up) stage, fixing stage and practical completion. These stages can sometimes be altered or more or less stages included in the contract, depending on the specific circumstances of the build.
GM Building Consultants provide two variations of the Progress Report, either of which can be commissioned at any stage during construction.
MODULE | faq / accordian - read moreInstructions: Please add text or images inside table. Add the title caption text above the read more text, then add the hidden text in the cell below. You can also add a module inside another module but only up to 1 layer deep. Images will be full width of frame. On smaller screens 2 columns will become 1 with the right cell on each row stacking below the left. Add as many rows as necessary.
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MODULE | faq / accordian - read moreInstructions: Please add text or images inside table. Add the title caption text above the read more text, then add the hidden text in the cell below. You can also add a module inside another module but only up to 1 layer deep. Images will be full width of frame. On smaller screens 2 columns will become 1 with the right cell on each row stacking below the left. Add as many rows as necessary.
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MODULE | 2 columnInstructions: Please add text or images inside table. You can also add a module inside another module but only up to 1 layer deep. Images will be full width of frame. On smaller screens 2 columns will become 1 with the right cell on each row stacking below the left. Add as many rows as necessary.
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