Browse Forums Building A New House 1 Apr 23, 2014 11:44 pm Well, it was our last day for finance approval today but it's still in the works so our developer terminated our contract. We could still get our deposit back. Just feel sad that our build won't push through. We were never warned that someone else is eyeing our land and developer said tomorrow someone else will buy it in cash Re: Has anyone ever experienced this? 2Apr 24, 2014 8:35 am About 10 years ago I put a deposit on a block of land at a large land release. There were numerous delays with the developer. The person I dealt with was a junior consultant and some other guy did the actual contract signing. A number of times I rang the junior consultant and was told they were still arranging paperwork. This went on for about 3-4 weeks. I had a missed call from the other guy and rang him back two days later. He told me bad luck, I took too long to get back to him and he has sold the block to someone else. I spoke with the junior consultant who gave me the managers name. He looked into it, rang me back and said the block was mine. The consultant guy was then apparently sacked as I dont think it was the first time he had done something like this. So, maybe speak to someone further up the line, they may be more willing to assist. Tell them it was a delay with Easter or whatever, as long as you are confident you will get approval and it is just around the corner. Re: Has anyone ever experienced this? 3Apr 24, 2014 8:40 am Still - a deposit doesn't last forever. Have you got approval yet ? Re: Has anyone ever experienced this? 4Apr 24, 2014 12:36 pm We keep thinking if we deposited a bigger amount ( we only deposited 500 ), maybe the developer would have thought that we are serious in buying that land and maybe would have seen reason as to why are finance approval took long. Re: Has anyone ever experienced this? 5Apr 24, 2014 7:35 pm Someone else is buying the block in cash, the entire amount?! No mortgage? I'd say if that is the case the developer was probably just waiting their time out to sell it to the other buyer - they get their money straight up with no need to wait for another couple to organise finance approval! Unfortunately there's not much you can do about it which sucks Have you got any other options? My build thread: viewtopic.php?f=31&t=70636&p=1161767#p1161767 Re: Has anyone ever experienced this? 6Apr 24, 2014 8:08 pm That really sucks. So sorry you're having the experience that. Unfortunately some people do string sellers along with finance so this seller has gone with the easier option (which ruins it for the genuine people). I am surprised they didn't give you a 72 hour finance extension though. If I were you, I'd be changing banks. Their tardiness has cost you time as well as being an emotional drain. I hope this works out in your favour and you find something even better. Hi All, we are starting to think of building with Masterpiece Builders in Victoria, has anyone had any feedback or experience with them 0 13596 Hi we are looking to talk to people who have built with them recently. We have signed mid range built contract but identified that a lot of things are not included.… 0 731 I work with owner, he/she is my man on the ground and I instruct them when to visit the site and take photos and I have other tools in the bag. 4 15284 |