When you start building a property, you will reach an agreement with the builder on start and finish dates. This sounds pretty straight forward, right? No, it’s not. Not only can the start date be ambiguous, but what are your options if a builder doesn’t finish on time? Are there penalties? Is your construction loan covered if there are overruns? If so, who pays? You or the builder?
In part six of our series, Stephen talks with Klaus Wilde of Cougar Homes about the time frame surrounding the start of construction and remedies that are available to you if a build isn’t finished at the agreed time.
If you want to talk about the issues surrounding the start and finish of a build, give us an obligation-free call on 1300 850 318.