Browse Forums Building A New House 1 Jun 10, 2022 9:38 pm Hi there, I am in a situation considering ending the building contract(HIA - NSW) I signed with my builder. We paid 5% deposit 6 months ago, build was to commence latest by May 22, but builder not started yet. In fact they are still doing the final plans and more work required from their side before site start. Now we are considering if we can get out of the contract since builder has not taken possession of site , not started orders etc. FYI - no disputes or anything, so termination by repudiation possible ? any advise/experience with options for ending the contract and its consequences ? Appreciate anyone has experience walking away after 5% deposit but before starting building on site Thanks Re: Ending building contract 2Jun 10, 2022 9:55 pm It's litterally been 3 weeks. You seem like you're going to be a difficult client. Good luck. Dark matter scientist, can breathe underwater, mind reader and can freeze matter just by willing it. Trust me, its in my sig. Re: Ending building contract 3Jun 11, 2022 9:15 am ![]() Appreciate anyone has experience walking away after 5% deposit but before starting building on site Unfortunately you will loose your deposit at worse the builder will come back for additional costs. Hold fast give them nothing It's better than loosing your entire lifetime investment when the economy turns to sh!t -> banks reposes and builder go bust OT, Been around long enough to know what happens, stand fast don't be bullied or swayed by No Bodies us inflation news at least the yanks keep everyone up to date The RBA and regulators here holds back 3 months... LOL, I rather have the bad news upfront as it occurs. Spare me "it's not that bad rubbish but its going to get worse? , leaving battlers and punters guessing.." Cheers Chris Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: Ending building contract 4Jun 11, 2022 3:09 pm ![]() ![]() Appreciate anyone has experience walking away after 5% deposit but before starting building on site Unfortunately you will loose your deposit at worse the builder will come back for additional costs. Hold fast give them nothing It's better than loosing your entire lifetime investment when the economy turns to sh!t -> banks reposes and builder go bust OT, Been around long enough to know what happens, stand fast don't be bullied or swayed by No Bodies us inflation news at least the yanks keep everyone up to date The RBA and regulators here holds back 3 months... LOL, I rather have the bad news upfront as it occurs. Spare me "it's not that bad rubbish but its going to get worse? , leaving battlers and punters guessing.." Cheers Chris Thanks Chris, I am talking with my solicitor as well. Re: Ending building contract 5Jun 13, 2022 8:47 pm Get legal advice from somebody with building contract experience. Standard building contracts typically have time limits such as time for builder to
These clauses will give you leverage to terminate contract on more satisfactory financial terms if that is your desire. Re: Ending building contract 6Jun 14, 2022 9:49 am ![]() Get legal advice from somebody with building contract experience. Standard building contracts typically have time limits such as time for builder to
These clauses will give you leverage to terminate contract on more satisfactory financial terms if that is your desire. Thank you, appreciate your advise I am a first-home buyer and completely new to the property market. We purchased an unregistered land in Austral. This land contract had a clause that before the land is… 0 9852 Thank you so much everyone. This all makes a lot of sense. I guess when you talk to a builder who butters up everything to look very polished, you get to start believing… 7 71182 I ended up refusing him to pay to fix HIS mistake. I paid money to fix just one ceiling, that too was overpriced but had no choice I shared my build story on another… 2 29626 |