After months of planning, construction, and collaboration with your architect and builder, the completion of your project is a momentous milestone. But before you settle in, it's vital to understand the significance of certificates of completion and other documentation.
What Is a Certificate of Completion?
A Certificate of Completion (also referred to as a Practical Completion Certificate) is issued when the work is finished to the agreed-upon specifications. It signifies that the property is safe and ready for occupation, though some minor snagging works may still be pending. This document is typically provided by your architect, project manager, or the builder.
Why Is It Important?
This certificate serves several purposes:
- Legal Protection: It marks the handover of responsibilities from the contractor to the client.
- Insurance Requirements: Most insurance policies for new builds require evidence of completion.
- Mortgage and Lending: Lenders may need this document before final payments are released.
Key Components of a Certificate of Completion
The certificate should include:
- Confirmation that the work complies with the building regulations.
- Details about any outstanding snagging issues.
- A clear handover date.
Retaining Documentation
It's crucial to keep this certificate safe. You may need it for insurance claims, future renovations, or selling the property.
by Kevin Knox