Home Projectz Gone Broke!?

[rubs123]

Hi Property Girl,

Its sad to hear you have such a bad situation in ACT. I cannot pass judgement on the conditions you face legislatively down there.
I am happy to say we have a great system in NSW. All builders supply the Home owners with an insurance certificate before works start. I can honestly say, the insurance covered the short fall between Home Projectz ceasing and our new builder who finished our home. I was also in contact with half a dozen other clients when Kade went under and they all seemed to come out of the situation with their heads above water.
The real victim of this process is the tax payer, as the government is left to foot the bill for all the insurance claims.
Maybe you should come to Sydney if you plan to build you dream home, its really not that bad. Sure we had a delay but its not the end of the world.

 

[TMNT]

Sorry to rain on your parade TMNT.

Ahh nuts!!!!!!

 

[Scott No Mates]

The real victim of this process is the tax payer, as the government is left to foot the bill for all the insurance claims.

Which state are you referring to rubs? In NSW the scheme is covered by private insurers as are most other states (QLD is the only exception that I can think of unless that's changed).

The system in NSW sux. Unless the builder has died, gone bankrupt or otherwise evaded the sheriff & the owner is prepared to chase down the court system for umpteen judgements& satisfy the insurer that there is no chance of the builder ever paying up or completing the work they might see a capped amount. So much for a robust system.

 

[rubs123]

Hi Scott,

I am referring to NSW. QBE and Calliden front the claims, but the policies are underwritten by a government body called SICORP.
See the link below for more details

https://homewarranty.nsw.gov.au/portal/server.pt/community/a;home/255

Unfortunatley you are correct about the builder having to die or go bankrupt for a claim to become eligable. But its not that hard to wind up a building company if there is genuine defective works that they refuse to fix. We just called DOFT and they came and did a report for free. This report is all you need to win in the CTTT, then you can obtain a wind up order.