Browse Forums Building A New House 1 Jun 14, 2009 11:57 am Just curious what everyone's experience has been with extensions to your land... were you able to settle on the original date or were you held up and needed an extension? If you did.. how many? Very interested to hear your experiences Re: Land extensions - did you need one?? 2Jun 15, 2009 12:29 am Land settlement is due on the 20th of June, however we don't have our plans etc from the builder yet so I think we'll be needing an extension. Apparently quite normal at present due to the volume of people getting in before the FHOG ends. New beginnings. Re: Land extensions - did you need one?? 3Jun 15, 2009 12:39 am Our land settled on the 4th June - which was the 2nd settlement date. We originally offered $2000 less than advertised price, which was accepted, but so we didn't have to pay fees n stuff coz of the date not being met, we ended up paying that $2000 back to make it the advertised price. Our finance wasn't ready yet for the next due date, but was only a week away, so they waived that and the settlement happened on time Built with New Generation (Summit Homes) We own land!... with a slab on it! Plus a shell of a house with stuff inside ! Re: Land extensions - did you need one?? 4Jun 15, 2009 12:55 am Our loan is with keystart so we did our house and land together. We were meant to settle in october but didnt settle until late Feb!!! We had lots of delays but we didnt have any fees to pay as it wasnt our fault. Our developer was really understanding and held the land for us no problems!!! Building is underway!!! Re: Land extensions - did you need one?? 5Jun 15, 2009 9:49 am wow that's really interesting, thanks for all the replies so far - lots of perthies too! Our land is supposed to settle today. We have signed our builders contracts and we literally hand delivered all the paperwork from the broker to the finance people late last week just to save a day or two in the post. Just as I was about to call our developer last week I received a call from their sales guy, letting us know about a 'deal' they have going at the moment. Aparently for anyone that settles before 30th June they are going to pay the cost of their settlement fees. I told him that was great but I was just about to phone their contracts person to request an extension and briefly explained our situation and reasoning why. He tells me that they are 'tightening the belt' with extensions and that the developers are now really 'reigning in'. I was also told about how they've sold all their blocks, titled land is a scarcity now and they have a list of people that would like to purchase this land. I was also told how we should have kept on top of the builders and finance people etc - I told him that we had continually (and I have documentation proving this) but some things are out of our control - surely they should understand this but it didnt seem to be heard. So I call the contracts person who tells me that she no longer has the authority to approve extensions and that her project manager is now doing so. They would put my case forward and that was the best they could do. Aparently he approved 2 extensions last week and denied 2. It all just seems really *******... We honestly can't believe it, we've done absolutely everything we can and based our entire world around this. It feels like our land is about to be ripped from under our feet. My broker can't believe the games they're playing, his response was "you haven't even had one extension!!!". I had thought it was fairly standard practice too. We've got our lawyer involved now... hopefully they will be able to help us as we're at breaking point. If anyone has any advice about what we could do we'd really appreciate it.. we'd also love to hear more extension stories Re: Land extensions - did you need one?? 6Jun 15, 2009 9:59 am I had to extend my land settlement 3 times because of delays with the bank and them making a mistake with my name on all the paperwork and needing to re-do it all. My solicitor got cranky with the situation and on the third delay the land developer started charging penalty interest for each day we were delayed! I lodged a complaint with the bank and they could see that the penalty interest was due to their delays and reimbursed me the money. I'm just glad I had the cash to be able to pay it upfront. I was told that 2 1/2 weeks was plenty of time for the bank to do everything and in the end it took me 8 weeks It was an extremely stressful time that's for sure! 'A bottle of wine contains more philosophy than all the books in the world.' Louis Pasteur Vegie garden: viewtopic.php?f=19&t=27637&start=0 My Backyard Adventure Re: Land extensions - did you need one?? 7Jun 15, 2009 10:07 am That must have been so stressful - 8 weeks is such a long time to be kept waiting I was just checking out your blog, it looks like things are well underway now which is a good sign Do you mind if I ask how much they were charging you in penalties?? Re: Land extensions - did you need one?? 8Jun 15, 2009 10:16 am We extended our settlement from the beginning to give ourselves more time to work things out (and also, to delay when our 1-year build time would be ) Custom European Cabinets - Melbourne Kitchen Specialist PM for business details as website currently being updated! Our Crazy Owner Builder Journey! Re: Land extensions - did you need one?? 9Jun 15, 2009 10:58 am gurlistar That must have been so stressful - 8 weeks is such a long time to be kept waiting I was just checking out your blog, it looks like things are well underway now which is a good sign Do you mind if I ask how much they were charging you in penalties?? It was very stressful as I couldn't do anything about it! But yes, it's all moving along now YaY! I'm not sure what the % rate was, but it was about $550 for 6 or 7 working days 'A bottle of wine contains more philosophy than all the books in the world.' Louis Pasteur Vegie garden: viewtopic.php?f=19&t=27637&start=0 My Backyard Adventure Re: Land extensions - did you need one?? 10Jun 15, 2009 12:16 pm Hi, we needed an extension for the exchange of contracts (2 weeks extra) to get finance unconditionally approved. No probs there. Then also needed extension on the settlement (ended up being 9 days) because we needed our building contract to be signed before we could use our FHOG as part of our land settlement. Land was settled on June 11th. It was stressful trying to coordinate the builders, finance and developers to get it all together in such a short time frame. I was really worried about asking for extra time, but our soliciter said it's not really a big deal and quite common. We did have to pay interest of approx $40 a day for the settlement extension. Should be somewhere in your land contract what you may have to pay if you settle late. Hang in there, hopefully it will be worked out soon.... your developer contact sounds like he has a carrot up his.... If your finance people have everything they need now, you may still make it. Ours only took a week from us delivering our building contracts (to R@ms) to our settlement date. Good luck! Re: Land extensions - did you need one?? 11Jun 15, 2009 7:49 pm yeah our thoughts were along the same lines! everyone we've spoken to thinks the developer is just using scare tactics and trying to pressure us to settle to achieve sales targets or something similar such a scary thought when you have planned your entire lives around a piece of land and put months of work into it for them to try and take it away from under you!! I just can't wait until we're actually building - as soon as something is on the ground that will be when I calm down I think, I just need to make it happen first Re: Land extensions - did you need one?? 12Jun 15, 2009 7:55 pm gurlistar I just can't wait until we're actually building - as soon as something is on the ground that will be when I calm down I think, I just need to make it happen first That's exactly how I feel! So impatient for the builder to get back to us with the plans and documents so we can get our finance sorted out and settle on the land. I hate sitting around waiting and not being able to see anything happen, it will be so exciting once our slab goes down. New beginnings. Re: Land extensions - did you need one?? 15Jun 16, 2009 7:29 pm Found out today our plans and contract won't be ready until the 24th, so we've been granted an extension on our land settlement until 20/07/09 so we can sort out our finance once the contract is signed (and avoid paying stamp duty - yay). New beginnings. Looking to start the journey of becoming an owner builder in SA. Feeling pretty (overly) confident on the building and construction details, but really struggling to find… 0 5786 No the fireplace doesn’t work. It’s been enclosed. I’m not sure what was removed, as it was done quite some time ago - well before what I can see with photos online… 2 9114 Very common on rendered homes Smaller suppliers get the lower quality raw materials 6 9098 |