First Post.. Long time lurking.
Just a question re the First Home Owners Grant.
We have paid the deposit on the Land and Building with Porter Davis. The land is in Henty Park and does not get titled until August 2009. As we are first home owners we are relying on the FHOG. We have pre approval through CBA conditional on the FHOG.
We were planning on signing the contract within the next few weeks.
I came across today this on the SRO website:
To be eligible to receive the $14,000 Boost for building a new home, first home buyers must have entered into a contract to build a home between 14 October 2008 and 30 June 2009 (inclusive).
In addition:
construction must commence within 26 weeks of the date of the contract
the contract must specify a completion date for building work within 18 months of the date of construction commencing or construction must be completed within 18 months of the construction commencing.
In limited circumstances the Commissioner may approve an extension to the commencement and completion date where the delay was outside the control of the parties and could not have been forseen at the time of entering into the contract.
I take it this will be an issue in recieving the FHOG? Is anybody in a similar boat?
Thanks for your help!
James