Browse Forums Building A New House 1 May 12, 2008 7:21 pm I know asking my builder is the best option but as I dont have all my ducks in a row yet I dont want to approach him.
Situation is we are building starting May 09 with approx Nov/Dec finish date. DH is in the RAAF and they offer a Home purchase assistance scheme whereby if you sign a contract to build provided you are in the property within 12 months of signing the contract they will pay you $15k towards this home. Therein ****** the rub. We have paid a $600 deposit to the builder in order to secure the current quote but we would ideally not like to sign the contract until Nov/Dec which is about 5 months away. As building wont start until May I was hoping this might not be a problem. Has anyone delayed a contract signing this long? Or havent we a snowballs chance in hell. Re: How long can contract signing be delayed? 2May 12, 2008 8:00 pm I managed to drag mine out for an extra 2 months but I think 5 months might be pushing it. I actually did ask the builder the best way to handle it.
With my builder, the process went: tender, colour appointment, contract signing. The builder suggested signing the tender, to lock in the prices. Then, because I could only meet with the colour consultant on a weekend, I had to wait 4 weeks for my colour appointment (I told them to make me the lowest priority lol), then they gave me the contract about 2 weeks later and I held onto it for a further 2 weeks. I was told, unofficially, I could hold onto the contract until the contract administrator started nagging for it, but 2 weeks was enough to suit my schedule. Get your ducks in a row and talk to the builder They may have an issue with locking in the prices for that long when there is nothing signed but then if you sign now, they are locking in the prices anyway. Received keys to my new home on 16/5/08 Re: How long can contract signing be delayed? 3May 13, 2008 8:08 am I am going to email him today. I am happy to pay their deposit etc just the dates on the contract need to be delayed ( I would even sign it if I didnt have to date it but I know that is a bit *******)
I guess if Defence wont come to the party I will have to back out of the deal at this stage and wait til December. I really hope they can do something for us as I am happy with the price an dI am sure it will change for the worse. Re: How long can contract signing be delayed? 5May 13, 2008 9:58 am I hope you are right. I am just waiting to hear back from the Defence review panel to make sure they wont help us out and then I have drafted an email to send to him.
They had locked in the price til next May for us. As a couple of the builders have had recent price rises and ours (PD) hasnt as yet that is why I was keen to lock the price in. Re: How long can contract signing be delayed? 6May 13, 2008 10:24 am it depends on the builder.
I heard that some builders like Eden Brae requires you to sign the contract before they submit to council. It's good that the price stay locked, but what if there's any issue with neighbour or council or you decided to sell it later as the application get drags on for too long? Are you still liable for building the house? What if the new buyer doesn't like the design or doesn't want to build with that company?? we didn't sign our contract until our application been approved by council. This frees us from the bounding of the contract until we are 100% sure it has been approved. Only problem is, the price increased twice during the long period, but that's the price we are willing to pay to cover the risk... Re: How long can contract signing be delayed? 7May 13, 2008 11:53 am I think you should also check with PD if there is any extra cost incur if you delay the contract signing
When i first approach PD last year, they said I need to lock in a cap price ($1000 a month) which will be included in my quote They stated that their suppliers may raise their prices and/or the land title may be delayed (thus delay the site start) which are out of their control So there is a possibility that i will be hit by a hugh cost before signing the contract and thus asked me to lock in this cap price This is just my experience with PD, i am not sure if others have the similar experience But i think you better chat with them and ensuring there is no suprise.. or if you can, lock in the cap price if they still have this policy Blog - http://clageonewhouse.blogspot.com/ Building Thread - viewtopic.php?f=31&t=10886&hilit=milan I am in, with my husband and my beautiful bunny Re: How long can contract signing be delayed? 8May 13, 2008 4:16 pm Ok
Spoke to PD delaying the contract is not a problem provided we sign the tender which is fine. They didnt think the contract would be ready before the end of this year/early next year in any case as work hasnt started on our area of the estate and until it does they cant to their tests etc. He was happy for it to be pushed to Jan 09 if needed which is perfect for us. We have a locked price til May 09. We paid a $2500 cap which I was happy to do as it means no other price increases between now and then. Over the weekend I saw Si33onds and H3nley and they had both put their prices up at least 3k in the last 2 weeks (on thehomes we were looking at anyway) and H3nley said they expected that trend to continue for the rest of the year so I dont mind the $2500 cap I think it is reasonable for a years freeze on a price. So happy now I can go back to choosing colours and tiles Re: How long can contract signing be delayed? 9May 13, 2008 4:28 pm That's great Penny, it's a good start to your business relationship with PD
Now, to see how many times you change your mind about colours and fittings between now and then Received keys to my new home on 16/5/08 Re: How long can contract signing be delayed? 10May 13, 2008 5:13 pm sound like you get a good deal, good on you Blog - http://clageonewhouse.blogspot.com/ Building Thread - viewtopic.php?f=31&t=10886&hilit=milan I am in, with my husband and my beautiful bunny Re: How long can contract signing be delayed? 11May 14, 2008 9:49 am Thanks all really very excited.
Colleen - I am sure I will change my mind dozens of times. I do have a pretty fixed idea on a colour scheme but having no experience will probably let the interior design person advise me. That and a large collection of books on design. Looking forward to getting to know everyone much better!! Hi, My home construction is complete, and the handover is scheduled next week. However the construction has been delayed and I have raised this to the builder. The… 0 5330 You talk about deletions, are they variations or PS and PC adjustments? pleas list them 1 16568 Congratulations! Nice to put that to bed before christmas, now you can relax 3 7184 |