Browse Forums Real Estate 1 Jul 27, 2012 11:42 pm My settlement was meant to be today but there was a delay, so it will be on Tuesday. (In WA, 3 days grace is allowed). BUT the developer offers a $7000 rebate on every block purchase, which obviously I'm looking forward to receiving, but on the contract it says if I don't settle on the date specified on the contract, the rebate will not be paid. Obviously I'll find out very soon whether I've just lost $7000, but if anyone has any ideas on whether the 3 day grace period applies here... or if there's any slack... GOODLIFE - Bravo - BUTLER http://getmistyfied.blogspot.com.au Display 20/02/2012 PPA 01/04/12 Prestart: 25/07/12 Settlement: 31/07/2012 Contracts:August Slab 19/11/12 BRICKS 10/11/12 Roof 16/01/13 Re: Have I just lost $7000 rebate?? 2Jul 28, 2012 12:54 am Hi turtle, I'm building a block purchased from MIRVAC in Mandurah, and it had a $9k rebate. Our settlement was moved four times with the final settlement date being a month over time. We still received the rebate If the reason for it being late isn't your fault (e.g. in our case, it was the builders taking their time getting the building contract ready) then I don't see why they wouldn't still give it over. I called our sales person at MIRVAC a few times to discuss it and they were lovely. Hope it all goes smoothly for you! Re: Have I just lost $7000 rebate?? 3Jul 28, 2012 7:53 pm That reassuring. Did your contract state that the rebate was subject to settlement occurring on time? Our reason is my bank wasn't ready to settle. I'm so stressed about it. Re: Have I just lost $7000 rebate?? 4Jul 28, 2012 8:28 pm Yes, our contract stated that the rebate was subject to settlement being by the due date. The $9k was actually made up of a $7.5k rebate and a $1500 early settlement moneyback - even though we settled a few weeks late, we still got the early settlement money which was amazing! Keep in touch with your developer consultant. Ours was lovely and was happy to put my stresses to rest whenever I got worried about something, such as this. Re: Have I just lost $7000 rebate?? 5Jul 28, 2012 9:58 pm That's VERY reassuring. I got an email back from someone at the landsale office, hopefully not just a receptionist, but the email simply said "The rebate will be deducted from purchase price at settlement." I think it's going to be all ok. Pheeww. Will let everyone know on Tuesday after settlement! Ahh the stresses of buying property. GOODLIFE - Bravo - BUTLER http://getmistyfied.blogspot.com.au Display 20/02/2012 PPA 01/04/12 Prestart: 25/07/12 Settlement: 31/07/2012 Contracts:August Slab 19/11/12 BRICKS 10/11/12 Roof 16/01/13 Re: Have I just lost $7000 rebate?? 6Jul 28, 2012 10:21 pm It is very stressful! And yes, our $9k rebate was deducted from the price of the land at settlement so they took less from the bank. Hope it all turns out good for you! Stress less! Re: Have I just lost $7000 rebate?? 7Jul 30, 2012 7:26 pm Yay we are definitely still getting the rebate. Phew! Thanks daveandally for reassuring me, it stopped me from tearing my hair out all weekend! GOODLIFE - Bravo - BUTLER http://getmistyfied.blogspot.com.au Display 20/02/2012 PPA 01/04/12 Prestart: 25/07/12 Settlement: 31/07/2012 Contracts:August Slab 19/11/12 BRICKS 10/11/12 Roof 16/01/13 That sucks! Hope it all works out. Good to move away from steel anyway for all your reasons, but it's also thermally poor. 16 17889 Thanks mate. Yeah good points! Leaning towards Option 3 to get a bit extra space in the cabinets but not going too crazy high (and expensive). Would require a mini… 13 39747 Hi All, I just wanted to close this topic out with an update. So we ended up agreeing to a number with the insurance company, and after an extensive amount of hand… 8 23405 |