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Nearly 9 in 10 new-build homeowners support snagging retentions

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Comments

  1. But won’t that lead to an increase in house prices since house builders could simply add the snagging retention on top?

    Subcontractors do the same thing when they price. If the retention is 5%, they just add 5% to their tender price. If they end up getting the retention, it becomes a bonus!

    House builders could do exactly the same! Home buyers would find themselves holding back ‘their’ own cash. Just thinking . . .

  2. As a Clerk of Works, I personally think that the Principal Contractor should not be paid anything until the property is signed-off as fit for purpose with no outstanding snagging items, not just within the premises, externally too. This should include drainage surveys, road surfaces, footpaths and landscaping.
    This procedure is being adopted more and more ensuring that the developers design the buildings and construct them properly, allowing new homeowners to access their individual homes without having to negotiate the building site.

  3. Am I the only one seeing the irony? This all makes sense so where is the logic for looking to eliminate retentions on commercial projects where the issues can be much greater, not least due to the fact commercial buildings are more complex and often non-repetitious? Decent contractors should not fear properly managed retentions and the cost of delayed receipt of the money is relatively small (and is inevitably included in the pricing).

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