Browse Forums Building A New House 1 Aug 24, 2022 7:19 am Hello, We signed up for home & land package with a builder with separate contracts for the land and constructions. Now land is titled and settled however things are not working out well with the builder. Builder has mutually agreed to cancel the build contract by forfeiting our 5% deposit. Has anyone been in this similar situation or any advice on the things that I need to consider? Re: Canceling build contract of home and land package 2Aug 24, 2022 10:22 am Sounds like the builder is insolvent? If the builder hasn't done any work then you should be entitle to the deposit return best to check with others in the estate, seek legal advice with them Cheers Chris Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: Canceling build contract of home and land package 3Aug 24, 2022 12:43 pm Hi Chris, no the builder isn't solvent. I've done the HIA contract and now when doing the selections and upgrades the cost is coming up way too much! Hence considering to cancel Re: Canceling build contract of home and land package 4Aug 24, 2022 1:22 pm MegKo Hi Chris, no the builder isn't solvent. I've done the HIA contract and now when doing the selections and upgrades the cost is coming up way too much! Hence considering to cancel um, this is EXACTLY why deposits are taken. Just a heads up. If you cancel this, regardless of whether you lose your 5%, by the time you get back to this stage with another builder, the strong likelihood is it will be even more expensive. You may want to reconsider what you're upgrading. What was the house base price and how much are you being quoted for all your upgrades? There may be a solution around getting the stuff done you cant do later and deferring some other things to after moving in when you've had some time to save. Dark matter scientist, can breathe underwater, mind reader and can freeze matter just by willing it. Trust me, its in my sig. Re: Canceling build contract of home and land package 5Aug 24, 2022 2:14 pm MegKo Hi Chris, no the builder isn't solvent. I've done the HIA contract and now when doing the selections and upgrades the cost is coming up way too much! Hence considering to cancel So who do you think should wear the cost of all the time and effort the builder has put towards your project? Re: Canceling build contract of home and land package 6Aug 24, 2022 2:24 pm i'd definitely try and get some quotes if you already know all your selections, before cancelling the contract. you might find that going with a different builder ends up more expensive even if you don't count the forfeited deposit. unless you're thinking of deferring construction for a few years until everything cools off Re: Canceling build contract of home and land package 7Aug 24, 2022 2:52 pm 780k is the cost for 38 squares home with project builder after many compromises and adjustments. At the contract stage I had spoken about the upgrades that I wish. The builder mentioned same will be taken care with variations and gallery selections. There was a rush situation to get the build contract signed in order to secure land and to exchange the land contract post build contract was done. The upgrade costs are way too much example - stairs - keeping standard stairs just adding a single landing and 2 feature steps is costing 20k. How is this cost justified? Even our time has been wasted and it is not just builder time and loss. Final drawings are not yet drawn, no approvals what is the 5% hold up for? Do I stand a chance to negotiate on this? We know we will end up paying same or little more with another builder but atleast would get things what we want. Re: Canceling build contract of home and land package 8Aug 24, 2022 3:16 pm MegKo We know we will end up paying same or little more with another builder but atleast would get things what we want. because your research the first time around was so thorough, right? Dark matter scientist, can breathe underwater, mind reader and can freeze matter just by willing it. Trust me, its in my sig. Re: Canceling build contract of home and land package 9Aug 24, 2022 3:23 pm Noname MegKo We know we will end up paying same or little more with another builder but atleast would get things what we want. because your research the first time around was so thorough, right? I was clear what I wanted right from the contract stage, the notes are even captured in my contract Re: Canceling build contract of home and land package 10Aug 24, 2022 3:36 pm MegKo Noname MegKo We know we will end up paying same or little more with another builder but atleast would get things what we want. because your research the first time around was so thorough, right? I was clear what I wanted right from the contract stage, the notes are even captured in my contract you can have it... for 780k. What you seem to have misunderstood is how volume building works. The material available online and at the displays and in their booklets etc. outlines very clearly what you get included (aka inclusions). Anything and everything not listed there is an upgrade. Some of it is fairly priced, some of it absolutely isn't. Upgrades to stairs for one are NEVER fairly priced. Facades are often not fairly priced either. Hard floor coverings in the upper premium rangers aren't fairly priced etc. Just because you discussed it with them before signing anything doesn't mean you were going to get it in the base price. Your base price house requires anywhere between 50-100% increase to the base price to reach the display spec. So my point was that by dropping one builder and going with another isn't going to change this formula. Right now building is expensive. like REALLY expensive. Dont expect to be feeling like you're getting good value. Welcome to building a house in 2022. Dark matter scientist, can breathe underwater, mind reader and can freeze matter just by willing it. Trust me, its in my sig. Re: Canceling build contract of home and land package 11Aug 24, 2022 4:18 pm MegKo Final drawings are not yet drawn, no approvals what is the 5% hold up for? Do I stand a chance to negotiate on this? You can try negotiating for actual costs instead. I'm based in Adelaide and I'm considering purchasing a house and land package from Weeks Homes. I found a deal that looks good, but there's a complication: the land isn't… 0 1262 Hi everyone, I'm very new to the housing market and would appreciate any guidance. I have found what I think is a good land and home package. Marketed as "turnkey".… 0 273 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 19794 |