Browse Forums General Discussion 1 Jun 10, 2012 8:23 pm My partner and I signed on with a builder that we have found has messed us around and misled us, the usual story and I really just want out. We've found out that we can't do so many things we wanted to and were told we could, i have just lost complete faith in the builder. We're not 100% sure exactly where we are at and if we can get out, this is what we have done so far. We've signed a preliminary works contract and paid the builder a 1.5k deposit. (We put a 1k deposit on the land as well through the developer which is subject to finance approval). The prelim works contract gave us the basic specs, the upgrades we chose to do, a basic plan, and chose our elevation. A week or 2 later we signed a contract quotation, which was basically the prelim contract typed up with our variations and schedule of particulars, a HIA specifications contract, and the HIA lump sum building contract. We feel we may be locked in because of the lump sum building contract, but we haven't received our final plans at all, finance hasn't been approved and we haven't even had prestart. Is there anyway we can get out of this and would we loose out 1.5k? If for example we didn't get finance approval what happens? Thanks! Re: Can we terminate a building contract? 2Jun 10, 2012 8:27 pm I would suggest you speak to a solicitor to advise you what your rights are. At a min I would guess that you have lost your deposit but you might be up for a lot more than that if you chose to resind the contract depending on what you have signed HIA protect builders, not customers Re: Can we terminate a building contract? 3Jun 10, 2012 10:48 pm If you're not happy with your builder then loosing $1,500 is better than having a rough ride for the entire build. Personally, I would pull out and try to retrieve the $1,500, but if I didn't I would be happy that I found a better builder. there are some very good builders out there. Demolition August 2009, Construction Started September 2009, Completed December 2010 Re: Can we terminate a building contract? 4Jun 29, 2012 9:44 pm Standard HIA building contracts have a clause that they are not valid until finance approval has been met. All you need to cancel the contract is a letter from your bank stating that your application for finance has been denied.. Normaly the builder will keep the deposit. Re: Can we terminate a building contract? 5Jun 30, 2012 10:13 am Lourance Standard HIA building contracts have a clause that they are not valid until finance approval has been met. All you need to cancel the contract is a letter from your bank stating that your application for finance has been denied.. Normaly the builder will keep the deposit. No need to lie. I think there are grounds for terminating the contract. Demolition August 2009, Construction Started September 2009, Completed December 2010 Re: Can we terminate a building contract? 6Jun 30, 2012 6:08 pm Casa2 Lourance Standard HIA building contracts have a clause that they are not valid until finance approval has been met. All you need to cancel the contract is a letter from your bank stating that your application for finance has been denied.. Normaly the builder will keep the deposit. No need to lie. I think there are grounds for terminating the contract. Its no lie .. the bank wont approve finance if they deem it a bad risk/investment. Re: Can we terminate a building contract? 7Mar 28, 2013 12:45 pm Hi Mr Pickles, It has been a while since you last posted. Did you manage to get out of your building contract successfully? My partner and I are facing the same situation as you were and we are wandering if there are further costs involved. Like you, we have not received a final contract with all our variations and changes. Difference is, we have loan approval and we have already signed the prelim contract. Although this is dated more than 3 months ago and is of an old plan. Would like to know if you encountered difficulties? Thanks in advance Re: Can we terminate a building contract? 8Apr 10, 2013 11:23 am Lets make it clear. If the cooling of period has passed, the builder will keep the deposit! Re: Can we terminate a building contract? 9May 29, 2013 8:10 am How can a builder lock you into a contract when you have not signed a set of contract plans? Having said that, in my opinion, no-one should comment on this without actually reading the contract documents. Contracts are serious matters and solicitors should be engaged. cheers Re: Can we terminate a building contract? 12Oct 01, 2020 8:44 pm Hello I m having the same problem . Could you please share if you we able to terminate the contract? Was there any cost involved? Thanks you in advance. Maya quote="PansLabyrinth"]Hi Mr Pickles, It has been a while since you last posted. Did you manage to get out of your building contract successfully? My partner and I are facing the same situation as you were and we are wandering if there are further costs involved. Like you, we have not received a final contract with all our variations and changes. Difference is, we have loan approval and we have already signed the prelim contract. Although this is dated more than 3 months ago and is of an old plan. Would like to know if you encountered difficulties? Thanks in advance[/quote] Sorry but you have a crap builder. Probably too late now. For our last build I only spoke to builders who would allow me easy access (at no cost). I used my own sparky… 10 9917 You talk about deletions, are they variations or PS and PC adjustments? pleas list them 1 16693 I've decided, after a period of confusion (my building broker told me it's probably not worth it to use a lawyer, but others have said it is a must) that I definitely will… 7 27981 |