Browse Forums Building A New House 1 Jun 03, 2009 5:46 pm Hi all I guess there are a few of us in this position at present. I have received my contract and have been asked to sign asap. Like now. But hang on a moment, what about the FHOG increase next month? I’ve been informed there has been an increase to the price x 2 since I got my tender. I’ve been given 14 days to sign, in the contract as the builder wants to start asap. What do I do take the $ 29 and build or walk and go with another builder and get the extra $7500 if and only if it gets pasted. Anyone else in this spot. I was hopping like hell I would get a contract before June 30 now I wish it came in July. Just can’t have it all I guess. Has anyone chosen to sign before July 1st, just in case the extra does not get pasted in parament? KW………….. “It's just as unpleasant to get more than you bargain for as to get less” George Bernard Shaw. Re: To sign or not to sign my contract. 2Jun 03, 2009 6:03 pm What happens (listed on contract) if you don't want to sign right now? I am thinking they want to 'secure' your money asap (and move on to the next...first home buyer) as you might decide there are better deals out there. On the flip side maybe the 14 days clause is in there so they can justify charging extra after the 14 days due to 1001 different excuses... I am not planing to sign by end of June (at this stage). How many of us can make a quick $7k in a month?? Re: To sign or not to sign my contract. 3Jun 03, 2009 6:08 pm We're waiting for a date to sign our contract. We've made it pretty clear to Henley that we want to wait if we can get the extra grant, and they have been great so far in saying that if we're elgible they will put our file on hold until after july 1st. Are there any penalties with your builder? It might be worth copping a small penalty if it's less than the extra grant, that way you still come out on top. Re: To sign or not to sign my contract. 4Jun 03, 2009 9:16 pm fruitty What happens (listed on contract) if you don't want to sign right now? I am thinking they want to 'secure' your money asap (and move on to the next...first home buyer) as you might decide there are better deals out there. On the flip side maybe the 14 days clause is in there so they can justify charging extra after the 14 days due to 1001 different excuses... I am not planing to sign by end of June (at this stage). How many of us can make a quick $7k in a month?? I would cut straight to the point with them and say you will sign on July 1 at the current price or you will walk and build with someone else. I think they will quickly agree to let you sign on July 1st. Moved in December 2010 Re: To sign or not to sign my contract. 5Jun 03, 2009 11:15 pm KW, Firstly, what will be the penalty if you didnt sign the contract within 14 days? Does it mean that you will be charged the new and increased based home price? If so, how much is this increase? In my opinion, a builder should be flexible. If they are not, then there are always other builders around that are more than happy to write you a new contract. OUr contract also will be arriving any moment now. but I didnt really chase it up with the sales person. So I guess I am just letting it roll for the time being. Stephen Williams Landing Stage 10 - Kingwell Neighbourhood Re: To sign or not to sign my contract. 6Jun 04, 2009 8:26 am Hi, I think it is very poor of your builder if they dont let you wait until the 1st July. $7500 is alot of money just think of what that will pay for some furniture, electricals, or a driveway. I think its definetly worth pushing for I would threaten them by saying you are going to another builder if you cant sign on 1st July. What we have done is we recieved our contract about 4 weeks ago we have done all our variations and paid balance of deposit so they are not loosing any time so they are still preparing everything, and once we sign on the 1st July everything will be ready to roll. I would be very suprised if your builder doesnt allow you to do something like this this. Are you building with a well know builder or a smaller company. Re: To sign or not to sign my contract. 8Jun 04, 2009 10:42 am Hi all New price will be 9k more. Plus inclusions are less. Current grant is 29k next month K36.5 = 7.5k better off. However, if I walk I do 3k for the tender and start all over again. If I wait till July 1st I cope the 9 K get less, but get the 7.5k = I still pay 1.5 k more and get less inclusions. Ever heard of “having you cake and eating it too.” We Looks like Im only going to get a small slice of the cake but will have a 900mm oven to cook the next one in. lol. Say La Vie KW…………… “It's just as unpleasant to get more than you bargain for as to get less” George Bernard Shaw. Re: To sign or not to sign my contract. 9Jun 04, 2009 10:49 am This seems really unfare on your part and am suprised you are willing to just cop it. Are you building with a large builder? I dont seem what harm waiting another 2 weeks until the 1st July will do have you offered to pay more of the deposit to lock in the current prices so they can organise everything. or maybe even reason with the builder and spend the money on upgrades. So you have already paid $3000? Re: To sign or not to sign my contract. 10Jun 04, 2009 10:56 am sparkle This seems really unfare on your part and am suprised you are willing to just cop it. Are you building with a large builder? I dont seem what harm waiting another 2 weeks until the 1st July will do have you offered to pay more of the deposit to lock in the current prices so they can organise everything. or maybe even reason with the builder and spend the money on upgrades. So you have already paid $3000? I have to disagree. The builder has every right to increase their prices. Most do it on a regular basis. A contract should only be valid for a certain number of days, after which it will then be void and the customer will be subject to the new fees. Yes, we'd all like to get another hand out from the government, but the builder has every right to cash in on it as well. Re: To sign or not to sign my contract. 11Jun 04, 2009 3:54 pm As I said it comes back to “having your cake and eating it too.“ A contract is not a contract till both parties sign it. It can be with drawn at any time. It is an offer to treat only till it is signed. Hence the price rise in 2 weeks. I did get a good deal on the price hence the 2 weeks to accept it. Let’s not forget that the only grant not subject to passing legislation is the 29k that’s guaranteed. The $ 36.5is not guaranteed, yet. KW.............. “It's just as unpleasant to get more than you bargain for as to get less” George Bernard Shaw. Re: To sign or not to sign my contract. 12Jun 04, 2009 4:08 pm mattydals sparkle This seems really unfare on your part and am suprised you are willing to just cop it. Are you building with a large builder? I dont seem what harm waiting another 2 weeks until the 1st July will do have you offered to pay more of the deposit to lock in the current prices so they can organise everything. or maybe even reason with the builder and spend the money on upgrades. So you have already paid $3000? I have to disagree. The builder has every right to increase their prices. Most do it on a regular basis. A contract should only be valid for a certain number of days, after which it will then be void and the customer will be subject to the new fees. Yes, we'd all like to get another hand out from the government, but the builder has every right to cash in on it as well. Once the contract is void and there is a price increase, find another builder. Without competition, you won't get a competative price. Demolition August 2009, Construction Started September 2009, Completed December 2010 Re: To sign or not to sign my contract. 13Jun 04, 2009 4:13 pm KW, looks like your builder might be trying to pressure you a little bit too much...it 3 of our friends haven't signed their contracts as they are waiting for 1st july 09. it's your business that the builder should be vying for and not the other way around. if the builder can't understand that go someone whereelse. Remember...Customer is King ! *pun intended* Re: To sign or not to sign my contract. 14Jun 04, 2009 4:16 pm blessedpeople KW, looks like your builder might be trying to pressure you a little bit too much...it 3 of our friends haven't signed their contracts as they are waiting for 1st july 09. it's your business that the builder should be vying for and not the other way around. if the builder can't understand that go someone whereelse. Remember...Customer is King ! *pun intended* I count agree any more! Re: To sign or not to sign my contract. 15Jun 04, 2009 4:39 pm sparkle blessedpeople KW, looks like your builder might be trying to pressure you a little bit too much...it 3 of our friends haven't signed their contracts as they are waiting for 1st july 09. it's your business that the builder should be vying for and not the other way around. if the builder can't understand that go someone whereelse. Remember...Customer is King ! *pun intended* I count agree any more! I agree as well, but as Willy has already stated, he will have lost $3k and weeks of effort in designing the house. Re: To sign or not to sign my contract. 16Jun 04, 2009 6:46 pm KW, I think its shocking that the builder is being difficult but before you jump into changing you need to think back a few months to the reasons you chose to build with them in the first place. Be it the floorplan or extras or cost... From the milllions of houses/builders we looked at, the floor plan / inclusions etc of the one we chose was perfect and $7k wouldnt be worth changing to our second choice builder. The other consideration is that you now know exactly what the house is going to cost to build, including all site costs etc. From reading this forum I have learnt there is huge variation between what builders charge for things so you may lose in other areas. Interested to hear what you decide to do. Re: To sign or not to sign my contract. 17Jun 05, 2009 12:52 pm Hi all Thanks for taking an interest in my position; I also hope it will help others in the future if the situation arrises. Current position; have paid 3k for tender its non refundable. My current tender/contract price is 8k less than current house price and it has gone up 2k more last week so that’s 10k less than current price. Option 1; remind them I’m the “King” and call their bluff and don’t sign till July. Of which they said the contract in July will be 8k more. Option 2: Walk away and start shopping again. I will be looking at current house prices (lets not forget all houses have gone up since I started looking 3 months ago). If I do this I loose 3 k, so I only stand to get 4.5k advantage from the July grant and that’s not 100% yet. (Sorry I’m sceptical, but this is a promise from a politition, as the criteria is not on the net yet and may be biff rent from the current FHOG) maybe????? So, I have to find a house I like, same inclusions, that will be hard to find, As I looked at them all before, wait for a tender, say maybe 4 weeks, pay for a new tender and hope it will be the same price as the current contract I have all so I can be 4.5k better off. Chances are they won’t take my current soil test and have a new one done. Sierra: You have the correct picture of where I’m at. I know I won’t find a better deal and so do they. I’m not that ** but feel the stand over tactic should be told to others, so people are aware of what can happen in contracts. I’m with you and most likely will singe and grab the 29k and be happy with that, we sort of. KW………. “It's just as unpleasant to get more than you bargain for as to get less” George Bernard Shaw. Re: To sign or not to sign my contract. 18Jun 08, 2009 1:02 pm KW, After all the work & effort you have invested and coming up with a design & inclusion to suit your needs, is there a possibility of appealing to the builders good sense in assiting you i.e. explaining the situation to him/her and requesting for any advice at all. Reminding them that you would really like to go with them but if push comes to shove, you might have to walk away because at the end of the day, you do have a budget & in this current economy, as a FH Buyer would like to accept all that's available from the government without having to lose out on the price hike...etc...Perhaps take the mrs along to show them a face they can't resist ? What do you think...is this an option? Re: To sign or not to sign my contract. 19Jun 08, 2009 3:51 pm If the problem that the builder has is commitment from you, are you able to give them the 5% deposit, or what ever it is that they require at time of the contracts being signed, then you sign the contracts on July 1st. Obviously this wouldn't work if you are relying on the bank for the 5% deposit. We are just finalising our contracts with our builder, and as soon as the contracts are completed, as long as we're happy with them, we'll be paying our 5% deposit, and then we'll sign the contracts after the 1st of July. I would rather and extra 6k in my pocket (plus our land isn't ready yet) Maybe the above is the solution for you? Our house thread: https://forum.homeone.com.au/viewtopic.php?f=31&t=18335 Re: To sign or not to sign my contract. 20Jun 08, 2009 5:52 pm Thanks all Its not the builder that is the problem. Its the company in the middle, that do the paper work and broker the deal. I got a good price due to a slow period in the economy, hence the 14 days to sign. I was told that the offer is only for 14 days regardless of the 7.5 k next month. A waning to all who are thinking that paying your deposit before signing your contract. The SRO may look at this as accepting an offer, even before you sign the contract. As the deposit is payable on signing of contract. According to my legal advice. Anyway Its a pain to decide what to do. The thing is I did get a better deal better than I,m letting on, which is the trade off I guess. How said building was easy. Buy the way Queen Willys not too happy with it all. The problem is we have worked to hard on this plan and like it. But we will not be held to ransom even if it cost us more. Thanks to all. KW............. “It's just as unpleasant to get more than you bargain for as to get less” George Bernard Shaw. 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