Browse Forums General Discussion 1 Mar 30, 2020 8:09 pm Hi All , Very Good day , I am sure many people will be in the same boat (or) be nervous about the current situation regarding COVID 19 and effects on Job loss. Let us say , if you have signed a land contract (or) signed a purchase of house contract and waiting for the settlement and due to the covid - 19 effect , if there are any issues bank valuations (or) bank approvals due to job loss or due to less job security in the future what are our implications. Are there any changes in government policies effecting the land / purchase settlements due to COVID - 19 effects. Can any experienced people (or) who knows more in detail regarding this topic can you shed some light . My land might register in 2 months period but i am bit a nervous of things happening around and hearing of people loosing jobs ..etc . I am not sure how it might impact banks in approving loans (or) if not approved did government had any provision to safe guard everyone who are effected by covid - 19 . Thanks All , Regards, Syd R Re: COVID 19 effect on Land Settlements 2Mar 31, 2020 7:48 am Am on the same boat and struggling to find answers. My land is also supposed to settle in the new FY. Am not sure how this current situation will impact on land values, bank's lending, etc. More concerned if this will trigger any realestate price fall as well. Any expert's view is appreciated! Re: COVID 19 effect on Land Settlements 3Mar 31, 2020 10:13 am Hi ozshuttler , I am sure there will be many people in the same boat or in the situation . I researched online to see if there is any info available (or) the impacts for every settlement due to covid . This is not a general situation where one or two loose job , this is an exceptional case where many people might come across . Not sure if there are any government policies or regulations around this to help people (or) any thoughts. Regards Syd R. Re: COVID 19 effect on Land Settlements 4Mar 31, 2020 9:35 pm SydSR Hi ozshuttler , I am sure there will be many people in the same boat or in the situation . I researched online to see if there is any info available (or) the impacts for every settlement due to covid . This is not a general situation where one or two loose job , this is an exceptional case where many people might come across . Not sure if there are any government policies or regulations around this to help people (or) any thoughts. Regards Syd R. Hi All Im in the same boat, our land at Gledswood Hills is due to settle end of June and my partner has lost his job. We have paid our 5% and stamp duty and exchanged contracts. My conveyancer doesnt know what will happen if we are unable to complete. I have emailed Mirvac tonight and hopefully i will get some information I can relay to you all asp. Thanks Re: COVID 19 effect on Land Settlements 5Apr 01, 2020 9:15 pm Unfortunately no help from Mirvac was received today Re: COVID 19 effect on Land Settlements 6Apr 04, 2020 10:48 pm lesley.juchau Unfortunately no help from Mirvac was received today If you are unable to fund it due to the circumstances surely they will rip up the contract and return your deposit, we are living in a different world at the moment, nothing should be seen as it once was, especially in this industry with so much money involved Re: COVID 19 effect on Land Settlements 7Apr 05, 2020 7:46 am One of my friend had registered for a house land package in Sydney. Due to current situation he has decided to not go ahead. he stands to lose around 4K but he says this is better option. these are unprecedented times and itβs natural to have those doubts. Re: COVID 19 effect on Land Settlements 8Apr 05, 2020 10:09 am One would hope the government will step in and help in these situations also, as if house aren't getting built, then contractors and tradies are not going to have work! And they have mortgages too! Maybe they should have a "hold until further notice" clause in contracts for these kind of unforseen circumstances? Re: COVID 19 effect on Land Settlements 9Apr 05, 2020 10:53 pm I had a call from Mirvac the next day, they were very helpful and admitted they didnt know which way things would go but they are willing to work things through with us so that we can achieve our dream. Yeah I don't know why I came to a forum. Place is full of wierdos/pedos thought internet may help but I suppose I'll try my luck with someone in person. Cheers. I tried… 0 6442 Need advice on the backyard plan above. Should I excavate and cut all of the dirt to level with the house slab or semi-excavate as per photo above? Both left and right… 0 24863 13 6632 |