Cancelling with Burbank after leaving initial deposit

Hi everyone,

I had signed a new home order with Burbank homes and left an $1000 initial deposit. Since then, Burbank have done soil testing and I have had a walkthrough at the "Edge" colour studio to get a few ideas on what's on offer.

I've now decided we don't want to proceed with Burbank and would like to build with Urban Edge homes --> better design, better inclusions, apparently better quality. Are we going to run into any problems cancelling with Burbank? We haven't signed any contracts yet, nor even shown them evidence of having finance approved.

$1000 lost (worst case)

I'm more than happy to lose my $1000 as with Urban Edge I still come out on top, slightly.
Just hoping that it was nothing more serious than that. Thanks

We did the same thing with another company. You won't get you deposit back but as you haven't signed a contract you aren't obligated to stay. You are also entitled to a copy of your soil report.

With us, our salesman attempted everything under the sun to make us stay with them but we had to do what was right for us.

I hope that helps

Thanks for that. Little bit nervous to tell them we aren't going ahead, but, like you said we have to do what's best for us and what is going to get us the best inclusions for our hard earned money!

We did that exact thing, actually we were on our way to pay the balance of our $5000 deposit (literally on our way with a big wad of cash!) when we changed our mind and are so glad we did! We lost our $1000 too but we didn't ask for it back.

We lost a deposit of over 20k... it was a horrible feeling, but we had been through engineering and all sorts so it wasn't as if it was for nothing- they had done a lot of work for us up to that point and our sales rep was bloody fantastic (shame the selections person wasn't- she is the one who made us rethink our build with them in the first place). She cost them our build.. but looking back i'm so glad we didn't build it for so many different reasons.
Even with a contract, you only have to pay for any services provided or things that you owe- you wouldn't be obligated to pay out for services not yet done or expenses that won't be incurred.

We signed the contract and paid around 15k to Burbank. We can't go ahead because our construction loan didn't get approved. What do we do now?

- can I cancel the contract and get my money back from Burbank?
- can I tell them to hold for a year or so until I get my loan sorted?

Please guide me if anyone has been through this or know a similar scenario.