[quote author=Mace link=topic=26237.msg406583#msg406583
Secondly, I added the comment that having been in business, I knew what I was talking about. Some have taken this as some form of pi55ing contest, and other business owners have taken objection to this as their businesses rely on progress payments. I gave the example of buying a house, rather that building one, where progress payments are par for the course. My personal replies to these messages has been that if you build a house, you enter into a contract overseen and insured by an industry body, such as the HIA, where the purchaser is protected against non completion of a project
[/quote] hi Mace just a bit more info on your quote above,I know getting a bit of track but may help other swaggers if thinking of building.
In south Australia It is mandatory for a builder to enter into a contract for any building work over $12,000 not just building new homes. And is strongly advised to enter into a minor works contract for work under $12,000. By entering into a contract with a builder a maximum deposit of $1000 for jobs under $12000 and a maximum deposit of 5% + costs over $12000 and of course progress payments for stages of the job. And remember only a licenced builder can get indemnity insurance to protect your investment.