Guarantees and insurance for the building industry |
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FAQHow much will it cost?
The Homefirst Builders Guarantee is very reasonably priced and on average is about $900.00, but the cost will be dependent on the value of the house being built. When should I apply?
An application for the Homefirst Builders Guarantee should be lodged as soon as a deposit is paid, and if there is no deposit, before work commences.
Who completes the Application form?
We require the Application to be completed in full and signed by both the Builder and the Homeowner.
What is needed with the Application form?
If you are building a new home we will also need copies of the Building Contract, Building Consent and payment.
What if I don’t have the Building Consent?
It is not a problem if you do not have the Building Consent at the time of lodging the Homefirst Builders Guarantee. Note the date on the Application form when you expect to uplift the Building Consent and we will contact you prior to work commencing.
How long will it take to receive confirmation that the application has been received?
We will assess the Homefirst Builders Guarantee within 5 working days, once all the necessary forms and documents have been received.
How do I know my Application has been accepted?
When the Guarantee has been accepted we will confirm to both the Builder and the Homeowner, and at this time we will also provide a Certificate of Guarantee and a full copy of the Terms and Conditions.
When does cover start?
Cover starts on the earlier date of when the Building Contract is signed or the date the Building Consent is issued.
Can I transfer the Guarantee when I sell the house?
The Guarantee can be transferred once to a subsequent purchaser within 30 days of the settlement date. |
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