Require 20% of sale price for new build homes be held for the snagging period

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Petition Action

Require 20% of sale price for new build homes be held for the snagging period

Petition Details

We want the Government to ensure 20% of every new build completion price is held back for the designated snagging period. It should be released to developers only when the buyers are satisfied they have what they agreed to buy. If not satisfied, remediation costs would come from the held funds.

Additional Information

This should encourage developers to ensure homes meet the required standards, specifications sold and expedite work to resolve any issues.

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