Browse Forums Building A New House 1 Aug 20, 2010 12:17 am Hi All We are currently considering building a home with Metr1con and have been provided a preview estimate. To proceed with the process, $1000 deposit has been requested. We understand that this is the standard process to lock in the base price of the home, options and promotions. Reading the terms and conditions however on the estimate, 2 items stand out: Pricing: a. The prices contained in this sales quotation are subject to change c. This quotation is capable of acceptance by the payment of an initial deposit of $1000. Once this deposit has been paid, all prices contained in the quotation shall remain valid for a period of 14 days. During this period, the purchaser must complete all necessary paperwork in order to allow for full finalization of the new home order. If this paperwork is not completed within the stipulated time, Metricon reserves the rights to amend any prices that have been quoted. Based on the above, my questions are as follows: 1) For those who have built with M, what is involved with the paperwork to finialise the new home order and is 14 days a realistic timeframe for completing this? 2) Based on the 2 conditions above, it doesn’t appear any pricing (base prices + upgrades…etc)… on the initial quote is anyway locked in even by paying $1000 deposit… if so, what is the point of this agreement? Re: ***** Preview Estimate and $1000 Deposit.... 2Aug 20, 2010 12:22 am That sounds a bit different to ours! Here is what was given to us when we paid our $1500 deposit: "Your initial deposit of $1500 will ensure that the base price is fixed, providing you sign your Building Contract within 180 days from the date of your initial deposit. This amount will cover the cost of colour selections, preliminary drawings and costing, tender document preparation and future ordering of soil testing, site survey, collation of council and other information. Please note that the deposit of $1500 is not refundable once your job is sent into the office." Which pretty much means it locks in the base price of the house (or in our case, H&L package) and they can't increase it, as it didn't include any upgrades that we select. We've since signed the provisional quotation which has instructed them to go ahead with preparing documentation etc. but not our final contract. I would contact them and query this as it sounds a bit iffy! (Keep in mind I'm building with Henley - but there's many people building with M3tric0n who could help you out.) viewtopic.php?f=31&t=37229 - our Iris 4! Re: Metr1con Preview Estimate and $1000 Deposit.... 3Aug 20, 2010 8:07 am Sounds resonable. You get 2 weeks to make a decision. After that they reserve the right to change prices, but that does not mean they will straight away. How long before you want to make a decision? Re: Metr1con Preview Estimate and $1000 Deposit.... 4Aug 20, 2010 8:08 am I am building with M, we took about 3 months before we finalized selections and another month before we paid the full deposit. They didn't increase any prices for us. They made it clear to us that the timelines they give are protection for them rather than a strict policy, and emphasised that if we stay in communication and show that we are serious buyers, then they will keep the prices as quoted. Metricon Riva 33 - http://herlihy-riva.blogspot.com Site start 15/03/2010 - Handover 23/12/2010 9 months and 8 days (284 calendar days) from site start to handover Re: Metr1con Preview Estimate and $1000 Deposit.... 5Sep 08, 2010 1:34 pm Hi there, We're building the Newhaven with M3tric0n also (on the South Coast of NSW) - I also went over all of the time constraints etc in the contract. We didn't find it to be a problem, and there wasn't really anything they required from us other than our decision to go ahead and pay the $1,000.00 deposit, which covers their soil and contour testing etc. Although we didn't go over any time periods specified with decision making and supplying them with paper work etc, they always said as long as they knew what was going on and we were doing our best to provide them with documents etc that they need, they're ok (ie when the bank is on a go slow and you have trouble getting paperwork out of them on time)... The clause in the contract that concerned me (in the actual contract to build the house) was: "5.1 - The owner, when requested by the builder at any time, must deposit that part of the contract price not being supplied by a lending body into an account at a bank, building society or a similarly recognised financial institution (to be known as a security account). The security account must be in the joint names of the owner and building with: (a) the owner receiving interest, if any, on the money deposited in the account; and (b) the builder as joint signatory for any withdrawal from the account" I had them cross it out - and they had no problem with that - I wasn't keen on them having control over how we used our money or when - we provided evidence that we had it, and that was good enough for them - so we were happy. They've been really good about things like that actually. Don't forget once you pay your $1k, its still your decision whether to go ahead or not. http://laurenandrichard.blogspot.com I recently went through a similar renovation and move scenario when updating our family home. We also swapped some rooms around and tackled a major… 2 12236 Looking to tile the facade pillars rather than rendering. Builder is quoting 2500$ laying cost for upto 10msq. The 2 pillars come to be 16msq. So laying costs are 5000$… 0 8921 It's all about wireless, self install now. The cost/benefit of wired setups for the house are no longer what they used to be. Lots of wireless options. Eufy, Arlo and… 2 10737 |