Page 13 of 250
Check your costs in the contract compared to your PWC as mine differed a tiny bit. Also check whether you have FIXED site costs. Mine did, so there will be no surprises for extra costs during construction. Just check all costs in general really.
The site cost actually has me worried because although it said fixed, there were 3 things that would make it go up (so not really fixed). Something like if they had to use screwpiles for our foundation, if the engineer's report from the land agent would turn out to be different and I forgot the last one...
Our salesguy did say that it was very unlikely to happen and I confirmed with the land agent as well!
So many "hidden" costs along the way, I reckon.
I think the third one would have been "rock". I had the same concern and was told the same information- that it would be very unlikely. Fingers crossed we all don't come across those 3 things!
impish73 -- when u said u r nt gng with resolve, does tht mean u went thru an external broker or did u mean u worked with resolve to get a different bank or something?
I am planning to go with a broker on my own as i do have 5% payment with me..hence the Qn..
2moro i have meeting with my HBC sales guy; they say its an info session. sales guy also gng 2 talk abt resolve finance as their broker is busy. Hes also gng 2 show me sme packages tht fit 2 my budget.
What else shud i b expecting and any key qns i shud b asking?
Sad to hear abt some bad experiences here...hope everything solves out sooner !!
Happy Building !
Gaviscon - we are also supposed to be titling in March / April so we are paying approx $1500 for our price guarantee for 10 months. I got the extra months to cover us as most developers don't title land when they say they will.
PRICE GUARANTEE? Silly me! That's what I thought a CONTRACT was for! And the fact that when THEY found land for me, as is part of their 3 step plan (Figure out finance, find land, find a suitable house for the land). They found land that was titling in March though I would have preferred starting a build immediately.
I don't want to pay that money.
Going to spit the dummy now...
And check behind the sofa cushions! LOL
impish73 -- when u said u r nt gng with resolve, does tht mean u went thru an external broker or did u mean u worked with resolve to get a different bank or something?
Yes, I am not going through Resolve as I have an external broker that I organised before shopping around for a house. We have paid $3000 for the deposit of the house and will pay the rest of the deposit (5%-3K already paid) before going to site.
Gaviscon - we are also supposed to be titling in March / April so we are paying approx $1500 for our price guarantee for 10 months. I got the extra months to cover us as most developers don't title land when they say they will.
PRICE GUARANTEE? Silly me! That's what I thought a CONTRACT was for! And the fact that when THEY found land for me, as is part of their 3 step plan (Figure out finance, find land, find a suitable house for the land). They found land that was titling in March though I would have preferred starting a build immediately.
I don't want to pay that money.
Going to spit the dummy now...
And check behind the sofa cushions! LOL
Its funny how different people look at things. We were so happy the price guarantee was only $1500 or so because we were looking at PD homes and RHills and they were charging $3000 for 6 months and then $500 per month after that.
I didn't have to pay any price guarantee...or are you referring to the initial $1500 paid to homebuyers? We had fixed pricing for 8 months when we signed in March....the 8 months is up next month and building won't start until the month after. This was because of title delay. I'll be crossing my fingers that nothing changes! Nothing has been mentioned so far.
I think the third one would have been "rock". I had the same concern and was told the same information- that it would be very unlikely. Fingers crossed we all don't come across those 3 things!
Checked my PWC for the exact stipulation:
Additional Site Costs may be incurred if any of the following are applicable:
1. Screw piles are specified by the Builder's engineer
2. Final land subdivision levels are different from those specified by the land developer in tis Civil Works and Engineering Drawings
3. Any service connection points are not present on the Building Site or are located in a position different to that shown on the land developer's drawings
Anyhoo, regarding your other post about the price freeze, I asked during PWC what would happen if the delay is caused by the land not titling on the specified date and he said that it will still increase. Hoping that it won't happen to you though or for anyone else in this matter! His yes wasn't a firm one so I believe that if ever this will happen, we can fight for it!!!
So we've had a bit of a crappy experience with HBC. Actually more just with the sales rep. Felt like we were being pushed so we'd sign. We weren't getting answers to questions in regards to a few things on our prelimary works contract. We asked our sales rep to please discuss thing with my dad, still hasn't happened. Seems like, and we've felt this before. Two first home buyers walk around, they see us as easy. We've done research, but we don't know everything. Get our parents involved and suddenly we are too difficult.
My dad has actually gone to an estate asking questions to other sales reps. Got the answers, got better pricing and walked out happier. We still haven't signed anything, as we are slowing it down. (thinking about moving further out than we originally planned too) It's just kinda left a sour taste in our mouths over this.
Didn't know if anybody else had anything like this.
Thanks _chylatte_! I checked my PWC after my post and I am covered for rock, my exclusions are the same as yours! Good luck to them putting the price up...they know they are dealing with first home buyers/low deposit so they would have a fight on their hands to justify an increase if they do! Haha.
Sorry to hear about your experience Niccles. It's so important to be comfortable with your choice and have all of your questions answered so don't let anyone push you around!
We weren't getting answers to questions in regards to a few things on our prelimary works contract. We asked our sales rep to please discuss thing with my dad, still hasn't happened.
What sort of questions were you asking Niccles?
We have had a great run with our Sales guy. He has never once pressured us, we actually went and away for months to look at other houses, had quotes done from two other builders but came back because we like the house design, the price and the sales guy.
I'm sorry to hear about al your issues guys! I'll try and shed some light on what I've encountered... As I've been typing this. I've realised how blase I am about certain things! I guess that's just my nature though, I tend not to worry about things until they're right in my face, about to blow up. It can definitely be a bad thing at times haha! Call it a character flaw if you will....
My price is guaranteed for 10 months, which gives me about 2-3 months after my land is expected to title. To be honest, I didn't even flinch at this, mainly because the Estate I'm in has a reputation for titling on time or even early, and because the cost of things rises all the time and barely anything is guaranteed for 10 months... I was just happy that I was locked in at all! I'd been looking at buying for awhile, and the 'price guarantee' line is pretty standard across the board.
I also have 'fixed' site costs, but with the same caveats for additional costs as you guys. Again I didn't flinch at those, they're pretty standard. The way I looked at it was that they've been building in these Estates for awhile now, and they know what they're up against land-wise - they would've covered their butts if they knew there was something weird about the land in general! The main thing you might come up against on a particular block that they wouldn't have accounted for would be rock, and that's included in the fixed cost anyway.
My sales guy was absolutely lovely, and I got along and felt comfortable with him straight away, but he was definitely a sales guy. They do nudge you from time to time, but hey, that's what they're paid to do
He was very upfront with me about everything, upgrades, potential additional costs etc. No complaints there. Niccles, you're entitled to bring along whoever you want and ask as many questons as you want, don't feel pressured to sign! If my parents were in VIC I would've brought them along too. I'm glad your Dad got some more answers, I hope you're feeling more comfortable now. It's a huge step taking on a house, and you've gotta do what's right for you
So, if I do come across any of these, I'll realise it when it's probably all too late haha! Like you guys, I've been told it's very unlikely, but we shall see... I'm feeling positive
I've started pretending to make 'mortgage' repayments as of this month, and it's definitely cut into my fun money!
I think this price fixing fee was just a bit of a shock as nobody had mentioned it and only 10 days ago I was hit with a Bushfire BAL 12.5 cost of $4500 that I was originally told I wouldn't need to pay in this estate. I'm literally finding expenses at a greater rate than I'm earning money at this point!
Ok, now that the shock is over, where do I find this information? In my PWC? And do I arrange this at the contract signing and HIA contract signing appointment? Also, would I need something similar for land or is that fixed now that I've signed the contract?
Many thanks, guys. The sharing of your experience and knowledge is always most appreciated.
Ok, now that the shock is over, where do I find this information? In my PWC? And do I arrange this at the contract signing and HIA contract signing appointment? Also, would I need something similar for land or is that fixed now that I've signed the contract?.
I bought up the price guarantee as I knew most if not all builders use it so it was included in my PWC. I would send an email to your sales consultant and ask if you need it and if so can it be added for contract signing.
I didn't have to pay for a fixed price guarantee either. Ours will be for 8 months, will run until April next year. Our land will title in Dec/Jan. Hopefully, it will be ok. If not, then I will fight for it. Cannot afford any more additional fees!!!
I brought up the price guarantee as I knew most if not all builders use it so it was included in my PWC. I would send an email to your sales consultant and ask if you need it and if so can it be added for contract signing.
See? As much stalking as I did on these forums (and everywhere, in general), I never came across anything about it and would never have thought to ask.
I didn't have to pay for a fixed price guarantee either. Ours will be for 8 months, will run until April next year. Our land will title in Dec/Jan. Hopefully, it will be ok. If not, then I will fight for it. Cannot afford any more additional fees!!!
I'm wondering if I should just shove my head in the sand and pray? The angel on the other shoulder is telling me to contact my sales guy.
Stupid angel!
Is it not in your pwc? It was in ours already. We didn't even ask about it. Yeah, contact your sales guy.
On the other hand, wouldn't it be better not to have it? Then if they increase you can always rebut by saying it's not on contract, unless of course it's in the hia one or whatever that's called.
Mine is in my PWC and HIA contract. I'm with you Gaviscon Girl, I'm burying my head in the hope it is overlooked...because what's the alternative? They up the price and I have to back out of it all! I'm going through Resolve too so they would have to change my whole finance etc if there is a price increase. I don't see it happening....*fingers and toes crossed*
It was in my PWC - Price is guaranteed for 8 months, after which I would have to pay the lesser between:
1) 0.45% of the value of the house, per month. So $900 for a $200,000 house, $1350 for a $350,000 house, etc PER MONTH
2) the new price of the house
I don't know why I didn't catch it. Just glossed over it, I think. For some reason I thought it was referring to how long HBC would take to build.
I've sent my guy an email - we'll see what happens. As it stands, land is meant to title in March and I'm covered until May 24. Just might make it.
I'll be interested to hear the response from your consultant. Remember though, it takes 8-10 weeks from titles to organise everything (soil tests/permits/settlement/final plans etc) before you have a start date. It says in my contract that the price is fixed for 8 months from signing pwc until build then the above would apply. My land titled within 8 months, including having a delay but it's the build that won't start within that time...geez. What shall we all do!