Jeremiah17 wrote:
@mattsta – thanks for the reply. i will try to ring up other builders.
@hemi3000 – thanks for taking time to reply mate. i am not aware or have no knowledge about the liquidated damages clause. do you mind ellaborating a bit more? cheers!

Basically if the house isn’t finished by x date he will be required to pay you a weekly…[Read more]

@mattsta – thanks for the reply. i will try to ring up other builders.
@hemi3000 – thanks for taking time to reply mate. i am not aware or have no knowledge about the liquidated damages clause. do you mind ellaborating a bit more? cheers!

@mattsta Yes that’s correct. Like a company, but probably more with a bucket trust company attached to it to reduce exposure/risk.
I really don’t know too much about it I’m mainly going off memory form a fair while ago. It wasn’t until I heard it at a property seminar again recently that it got me thinking.