Browse Forums General Discussion 1 Jan 12, 2022 10:29 am Hi All, newbie here so please don;t mind the question I have paid a deposit for land in Melbourne which is will be titled in the next few months. I am however not sure if i want to move to Melbourne anymore and therefore want to look at what my options are to cancel/sell My land contract like most other estates say that i have to build within 2 year, and i cannot sell until a house is built. My questions to you all are: - Is there a way to get out of a contract like this without losing my deposit? - If i do title the land in my name, get financing etc - what happens if i then say i want to sell? Does the developer buy it off me at a ridiculously low price? Basically what is the better of 2 evils? Do i just build something and sell and hoping to break even? Or just lose my 5% now and live for another day? Hoping to haar thoughts from someone that may have been down this path already Thanks Re: Cancel Land Contract 2Jan 12, 2022 1:32 pm Hi! Not sure if this information helps as all contracts are different. However my partner and I signed a land contract subject to finance in feb 2021 and can cancel and get our deposit back any time before settlement. I think once the lands titles in your name it could become a lot harder. Did you sign subject to finance? Have you spoken to your land agent? You don’t have to tell them you’re cancelling your contract but could say you’re feeling uneasy due to covid or are re locating for work and want to know your options (even if it’s a lie you still find out if you’ll get your deposit back lol) Re: Cancel Land Contract 3Jan 12, 2022 3:59 pm New Build SA Hi! Not sure if this information helps as all contracts are different. However my partner and I signed a land contract subject to finance in feb 2021 and can cancel and get our deposit back any time before settlement. I think once the lands titles in your name it could become a lot harder. Did you sign subject to finance? Have you spoken to your land agent? You don’t have to tell them you’re cancelling your contract but could say you’re feeling uneasy due to covid or are re locating for work and want to know your options (even if it’s a lie you still find out if you’ll get your deposit back lol) Thank you, unfortunately no they werent allowing it and i didn't push at the time Good idea, i'll check with the agent. I'd assume the would just say you would lose the deposit which would suck.. Hi All, We signed a prelim agreement last year (May 2022) and paid deposit to a builder. However, we didn't go ahead with them and never signed a contract. We ended going… 0 2282 Thanks for the response! However, it's have been sorted. But for others benefit here is what we had to do. Unfortunately, it's not straightforward. BCC washed their hands… 3 7176 You talk about deletions, are they variations or PS and PC adjustments? pleas list them 1 16455 |