Browse Forums Building A New House 1 Aug 30, 2009 8:59 pm Hi there, My friend is in the process of looking into building a house but is only able to do so if she gets the full 32 000 grant and she said she wouldn't consider it otherwise. She has been doing this very quickly, put a deposit on a block of land today and has been talking to building companies. Most say they won't get the contracts signed in time but one, Bbank, says that as long as she has the paperwork in for the prelim contract by the 15th it doesn't matter and she will get the grant. This sounds wrong to me from my experiences....can anybody help me work out what the deal is? Building the Talbot with the big M!! Re: First home owners grant & boost. 2Aug 30, 2009 9:09 pm as far as i know, she as long as she has contracts signed by the 30th sep then she will get the grant and the boost. i think a lot of the bigger companies are saying they are taking at least 8 weeks to get contracts ready though. Re: First home owners grant & boost. 4Aug 30, 2009 9:24 pm it would have to be the building contract. i would imagine that if she signs the preliminary contract by the 15th then they will have enough time to get the final contracts ready and signed by the 30th Re: First home owners grant & boost. 6Aug 30, 2009 9:34 pm As far as I knew it is the financial institution that lodges the FHOG paperwork, not the builder, but I could be wrong. Get her to check that out and make sure. Built with Bentley homes in Doreen All moved in Dec 2009 Now for the garden! Our stuff so far viewtopic.php?f=31&t=16532 Re: First home owners grant & boost. 7Aug 30, 2009 9:37 pm I'm in WA - here its about 6+ weeks between signing the prelim and the actual building contract. The building contract needs to be signed by the 30th September to get the increased grant. However, if she found they didn't have the building contracts ready by then, she could always cancel the prelim agreement. Building with Ventura homes (WA) Building thread: viewtopic.php?f=31&t=20516 Slab: 17/04/10, Bricking started: 12/05/10, Bricking finished: 2/06/10, Roof frame done: 11/06/10, Colorbond on: 14/07/10, Lock Up: 19/08/10, Cabinets: 25/08/10, Tiling done: 28/09/10, Electrical: 2/10/10, PCI: 29/10/10, Keys: 4/11/10 Re: First home owners grant & boost. 9Aug 30, 2009 9:52 pm Yep I'm in the same boat...I need the 32k FHOG condition of bank loan. Put my order in 2.5 weeks ago, BBank salesman said I'd get the contract signed by 30th Sept... heard nothing yet, eagerly awaiting! Hopefully if they don't make it by 30th Sept I can just tip in an extra 7k of my own. Re: First home owners grant & boost. 10Aug 30, 2009 10:14 pm Are you able to use the FHOG grant as deposit now? I was told by our bank we must have atleast 5% held in our account for a minimum of 3 months to be even considered. The FHOG is just a bonus after you are approved and the forms are filed by the bank. Banks have tightened right up since the financial crisis. As for time frame, below is some advice I gave someone else in anothre thread. Quote: We signed up for our house in late May, booked for our Colours and Electical in early July and the earliest appointment they had was for the 26th August. We booked our final contract signing a few days ago and the earliest we could get was the 22 Sept (getting very close to end of Sept cut off). It takes atleast 2 weeks alone for the builder to prepare the contracts and drawings after colour and electrical. Some builders will allow you to sign contracts before Colours and Electrical to make the Sept 30 deadline, and add additional costs as variations. Be catious doing this as the house price can increase dramaticaly and the bank's valuer may not approve the final price, leaving you with a house you can not get finance for. In short, do not bank on the full 32k or possibly even the 25k if you have only just started the process now. Don't rush yourself for the sake of 7 to 14k FHOG boost, as incorrect descision may cost you a lot more. Re: First home owners grant & boost. 11Aug 30, 2009 10:19 pm calzo Hi there, My friend................... put a deposit on a block of land today By the way our bank told us that deposit on land can be considered as contribution to your deposite as with any shares you may have. We paid a 10% deposite on our block which the bank took into account (after the bank told us it was ok) Re: First home owners grant & boost. 12Aug 30, 2009 10:29 pm I don't think it can be used as a deposit but as it decreases the overall loan amount needed it can still be a condition of finance. Re: First home owners grant & boost. 13Aug 30, 2009 11:52 pm Forgive me for being naive - how do you get 32k instead of 21k??? *Built with Gemmill Homes in WA* Slab - 1st June 2009 Plate Height - 17th June 2009 Lock Up - 18th August 2009 PCI - 5th October 2009 Hand Over - 15th Oct 2009 https://forum.homeone.com.au/viewtopic.php?f=31&t=20844 Re: First home owners grant & boost. 14Aug 30, 2009 11:58 pm By living in the Great State of Victoria 'mam Re: First home owners grant & boost. 15Aug 31, 2009 12:01 am Ahhh.. cool! I'm sure if they introduced it in WA everyone would jst put their prices up instead. *Built with Gemmill Homes in WA* Slab - 1st June 2009 Plate Height - 17th June 2009 Lock Up - 18th August 2009 PCI - 5th October 2009 Hand Over - 15th Oct 2009 https://forum.homeone.com.au/viewtopic.php?f=31&t=20844 Re: First home owners grant & boost. 16Aug 31, 2009 12:03 am Manda Forgive me for being naive - how do you get 32k instead of 21k??? in country vic it's $36,500 (yay for me!!) Re: First home owners grant & boost. 17Aug 31, 2009 12:03 am Manda I'm sure if they introduced it in WA everyone would jst put their prices up instead. Thats exactly what happened in VIC heh. Re: First home owners grant & boost. 18Aug 31, 2009 12:04 am From what I can remember, either yourself or your mortgage broker lodges your grant forms, not the builder. But I guess some builders might do it?! Also, I guess it kinda can be done to do the whole process in one month. But that's really pushing it. You have to take into consideration that you cant really have major structural changes to the house, and your builder has to be quite accurate with your prelims contracts and then offical building contract because they usually always makes mistakes, which takes even more time. It will be a rush, but for the sake of a few extra $$, is it really worth rushing this VERY important process? Idiots are fun, that's why there is one in every village! - Dr. House - Re: First home owners grant & boost. 20Aug 31, 2009 11:45 am Not sure if it's helpful, but builders are sometimes willing to push the contract through quickly so that it can be signed in time and deal with the particulars/changes by variation. And we were told on by two different people that a contract could be backdated if necessary - which seemed really ******* and a bit risky to me but... We're home!!! Site start: 13 Aug 09 Handover: 29 Jan 10 Hubby & I are building the Santorini 26 with M3tr!con My thread: viewtopic.php?f=31&t=20570 Thanks NativeZen! I can't wait to start landscaping, though it's going to be a while away yet. No movement on site yet as of the weekend. Hoping to see some earthworks… 3 2149 We already paid for somfy motors for the blinds. The quote above was purely for “pre-wiring” so the blinds company can install the motors and blinds. That’s why we… 5 8013 nothing to do with salespeole. you'd do well to read and ccomprehend the post before bashing away at the keys with some negative comment again. 4 5048 |