Consumer Building Guide NSW- Fixed Price or Lump Sum Contract

By Michael Como | June 24, 2012 |

Although a fixed price contract is intended to be for a ‘fixed price’, it is not uncommon for the final cost to increase as builders will occasionally seek a variation in the contract price due to unforeseen circumstances.

Changes to the total price of a fixed price contract usually occur when the builder encounters a condition that was not anticipated (eg. the existing footings are insufficient for the new work or window size changed or several concrete slabs were under the soil).

The builder will usually seek an increase in the price of the contract by asking for a ‘variation’ to the price.

Reference- NSW Fair Trading viewed 15/2/12, image source google

 

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Como Building P/L, Michael Como provides in SYDNEY, an NSW Building Regulations Consultancy service that comprises, Interpretation of NSW legislation relevant to the construction of Class 1 and 10; Issuing: Complying Development Certificates (CDC), Construction Certificates (CC) [after a local council has approved a development], Occupation certificates (OC), Compliance Certificates, NCC Building Code Australia Reports. Engagement for the certification work is on a contract basis.

Also, a pre-purchase property inspection or building inspection by Michael Como may empower you with knowledge about the condition of a property currently or before you buy it and help you avoid future problems and unexpected costs. However, this service can only be conducted if the insurer is on-side, and currently, they are not and as a result, we do not conduct it.

Michael Como is Your Custom Home Builder in Sydney with over 46 years of construction experience, a Master Craftsman sharing innovative Restoration/renovation Ideas. Licensed since 1988. At this stage, I will only carry out building work at a contracted agreed hourly rate.

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51 Comments

  1. Michael Como on February 1, 2021 at 2:09 pm

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