Hi all,
I'm buying a new house from a friend (not exactly) of mine. The house is on the verge of completion barring few items such as:
1. approx 50% fencing
2. Carpet in lounge
3. Few taps in laundry
4. Gas water heater
5. Rendering of front porche
6. Upgrading Euro rangehood to Westinghouse
7. Removal of some debris from the site
Vendor (my friend) is in a hurry for the settlement. He is taking the handover of "Practical Completion" from his builder tomorrow and is insisting that I should go for the settlement day after tomorrow.
The contract says that we will settle within 7 days of practical completion. While signing the contract, I had no idea that the practical completion certificate can be issued without completing the above mentioned items but vendor says that 'practical completion' means house is habitable. He is also saying that his builder will complete the pending items within 2 weeks but not giving any guarantee.
What should I do? Help appreciated.
Regards
I'm buying a new house from a friend (not exactly) of mine. The house is on the verge of completion barring few items such as:
1. approx 50% fencing
2. Carpet in lounge
3. Few taps in laundry
4. Gas water heater
5. Rendering of front porche
6. Upgrading Euro rangehood to Westinghouse
7. Removal of some debris from the site
Vendor (my friend) is in a hurry for the settlement. He is taking the handover of "Practical Completion" from his builder tomorrow and is insisting that I should go for the settlement day after tomorrow.
The contract says that we will settle within 7 days of practical completion. While signing the contract, I had no idea that the practical completion certificate can be issued without completing the above mentioned items but vendor says that 'practical completion' means house is habitable. He is also saying that his builder will complete the pending items within 2 weeks but not giving any guarantee.
What should I do? Help appreciated.
Regards