We have two payment options: Progress payment and Turn-key:
1. Staged payments:
| 1 | Deposit | 5% |
| 2 | Commencement of Site Work | 5% |
| 3 | Substantial Completion of Foundation | 15% |
| 4 | Substantial Completion of Roof | 25% |
| 5 | Substantial Completion of Cladding | 25% |
| 6 | Substantial Completion of Painting | 20% |
| 7 | Practical Completion | 5% |
2. Turn-key:
If you choose from one of our House and Land packages, you only have to pay a 10% deposit at the point of signing the contract and pay the balance at practical completion.
A Provisional Sum is an agreed estimated amount included in your Building Contract. Provisional Sums are usually provided for specific items that are not selected until a later stage.
Typically, builders provide Provisional Sums for: city council fees, design fees, foundation/structural engineering service, soil test, appliances, joineries, carpet and tiles. If the Provisional Sum item varies, so will the final contract sum. If you are looking for an accurate quote, a builder provides less Provisional Sum items is a better choice as it will prevent you from unexpected overruns.
At Yellow River Construction, we only provide Provisional Sums for kitchen, laundry and wardrobe joineries (any other items?).
