opinion

If you are thinking of building you need to know what you are signing

By Darren Standish

Standish tnIf you approach the builder to make any changes after the contract is signed, be aware that there may be a cost in doing so.

Blogger: Darren Standish, Property Prosperity

Any requests for changes (known as variations) to the contract must be made in writing to the builder as early as possible to minimise cost and time delays. As with any contract, changes to any terms, including the cost, must be dated and signed by all the parties to the contract.

Variations should not be made orally as they are difficult to prove if there are disputes.

If you discuss any changes with the builder over the telephone, confirm what was verbally agreed with the builder in writing and keep a copy of your letter for your records.

All variations to contracts between $6,000 and $200,000 must be in writing, the terms set out and agreed to by all the parties and you must receive a copy of the signed variation before the work covered by the variation begins.

If you are unclear or unsure of your rights and responsibilities with regard to changing the details of your agreement with the builder it is suggested you contact an experience Builder Broker or Property Conveyancer.


About Darren Standish
Standish

Darren Standish established Property Prosperity in 2004 initially as a property development company, however after repeated requests for assistance the business evolved into a development consulting business.

Property Prosperity was initially focused on assisting clients with subdivisions and negotiating with councils to ensure that clients maximized their return on investment. Over the years additional services were gradually added to ensure the development process was as seamless as possible for its clients. We expanded into offering individually tailored finance solutions and then added Property Development Analysis, Property Sales and a Builder Broker Services.

Darren is the overachiever of the team and has more qualifications than your average university graduate. As well as completing a Bachelor in Economics, Bachelor in Commerce and post graduate in Accounting he subsequently went on to complete a Diploma in Financial Service, Diploma in Real Estate and Certificate IV in Building. He is a qualified Certified Practicing Accountant (CPA), a licensed Real Estate Agent, licensed Mortgage Broker and holds a Builders License.

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If you are thinking of building you need to know what you are signing
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