Mar 29, 2015 8:00 pm
Have considered a house and land package however have seen the contract and it advises that the building tender is valid for 90 days. Confused as land rego is not expected until dec 2015. Has anybody had experience with these types of house and land packages and had any nasty surprises in regards to price increase when it came time to build.
Re: House and land packages2
Mar 29, 2015 8:51 pm
Id probably question it further with the builder, and maybe even get a solicitor/conveyancer to look over it before signing anything.
We have recently signed up with Hotondo Homes (although not a house and land package) and in their contract it says they build within 30 days of either the contract being signed or the land being settled. We had to query all this a lot as our land isnt due to be registered until May this yr (and that is tentative as it has already been put off 3 times now, was due to be registered Feb this yr).
We had our conveyancer check over the contract and even though we've signed the contract, they cannot change the price if there is an increase in any of the products before they build. Basically what we have signed for (total price) is now locked in even though our land wont settle for another month or maybe more.
Re: House and land packages3
Mar 29, 2015 10:09 pm
I believe the tender price is valid for 90days or until you pay your 5% deposit. You are best to take your contract to solicitor to make sure they cannot increase your price. We are lucky to have a fixed contract price but I noticed in the contract "hidden costs" inc hitting rock. I asked my builder to cross it out & they did. We had to increase our initial period as like you we are waiting on our land to register so increased from 60days to 120days. Our builder said if our registration goes overtime we could possibly get hit with a price increase as it's over our 120day initial period. Hope this helps
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