Browse Forums Building A New House 1 Feb 23, 2010 11:57 am So not that I am facing this now but I just want to know where I stand down the track. The reason I ask this is because we signed up in Oct before a price rise but we were told if we signed the agreement there would be no price rise but he also told us he couldnt fix it for month and months and that if we had our land in Jan that should be ok. Well fast forward to know and we have been told land wont be released till June which I advised the sales guy and he said he would try and hold off but if we could get the plot id no. then it moves it to start build which he said will stay at the agreed price, but I was wondering if any of you have been through the same thing and at final contract signing were you charged more?? RHI - BALDIVIS PERTH 2005 Bought/Finished WA Housing Centre Home 2010 Building the Benchmark with REDINK Homes in The Avalon 2013 Building the Michigan with Cont3nt Living In Highbury Estate! Re: Builder putting up prices, can they do it?? 2Feb 23, 2010 12:35 pm Our builder put a clause in the contract that stated that the contract needed to go unconditional within 150 days of the initial deposit, otherwise we were subject to 0.5% per month or part thereof. Luckily we had already purchased the land before we paid the deposit on the house, but we needed to secure finance and sell our existing home before we could give them the go-ahead. Once you sign the final contract, that price is locked in (barring mutually agreed post-contract variations and finalisation of provisional sum items) so I would attempt to get to that point as soon as you can (put in a "subject to finance" or some other "out" clause if you're a worrier). Built a Tribeca 44 with the Big M Sales Accept 15/06/09, Contract Signed 24/09/09, Site Start 23/11/09, Slab 11/12/09, Frame 12/01/10, Roof 20/01/10, Lock-up 30/03/10, Fixing 30/04/10, Handover 27/08/10. Re: Builder putting up prices, can they do it?? 3Feb 23, 2010 1:23 pm jimmalenko Our builder put a clause in the contract that stated that the contract needed to go unconditional within 150 days of the initial deposit, otherwise we were subject to 0.5% per month or part thereof. Our builder has the same clause in the contract (though for slightly more than .5%). Our 150 days is up March 3rd and for council approval issues, we might not make it. From what I've heard from people commenting on our blog, that clause is in place more for people that want to drag their feet for personal reasons, and aren't really working towards getting the house built. I'm not sure how not having land available to settle on would fall into this equation. Stefan Building the M3tr!con Liberty 42 at Stonecutters Ridge. The New Build Blog - "Life, In Progress." Stonecutters Ridge Community Website | My photos Re: Builder putting up prices, can they do it?? 4Feb 23, 2010 2:12 pm Our builder has threatened to pass on a price rise if we don't get our finance sorted out in the next few days. We were scheduled to start building on late Jan, but the bank keeps making mistakes over the variations and despite our broker being on their case (you should see some of the correspondence), they don't seem to care. Finance is done for the contracted price, but apparently this isn't enough to start building. How it takes a bank 5+ weeks to approve an extra 5k is beyond me. I don't know how much of it is game playing on their part to try and hurry up the bank or whether or not they'll actually do it. Its not like I have any control over how quick the bank goes. If they do decide to try it on, I might say to them to forget the whole thing and see if they are prepared to lose $250k. Edit: Our contract doesn't state anything about time frames for finance or prices rises, just that they may occur. Re: Builder putting up prices, can they do it?? 5Feb 23, 2010 7:36 pm deletedpenguin I'm not sure how not having land available to settle on would fall into this equation. If you put a "subject to land settlement" clause in the contract to give you an easy out it would come into effect because the contract is not unconditional until the land settles. Built a Tribeca 44 with the Big M Sales Accept 15/06/09, Contract Signed 24/09/09, Site Start 23/11/09, Slab 11/12/09, Frame 12/01/10, Roof 20/01/10, Lock-up 30/03/10, Fixing 30/04/10, Handover 27/08/10. DIY, Home Maintenance & Repair Are you doing this with a building permit? Conversion of a non habitable room into a habitable room requires building permit. 3 17311 Ask the council if there is a chance of getting build over easement exemption. Sometimes easements are unused and 24cm is not all that much. Good luck. And yes any builder… 2 13746 Tradie may sit at home but will need to get house plastered as well or will you sit it out? 6 9938 |