Browse Forums Building A New House 1 May 04, 2015 8:05 pm Hi All
first time poster i recently started going through the processes to build a new house and they tell me that 7 weeks to get building contracts is normal, how ever the mortgage broker and conveyncer are both telling me thats ridiculous. Can someone tell me who is fibbing as this is my first house and its doing my head in. I do not want to mention any companies involved. Cheers Harps Re: How long to get building contracts 4May 05, 2015 5:48 pm At first I wasn't in a rush as my settlement was in April, and it was October. I finally finalised my quote about 4 weeks ago, been waiting for the plans ever since. Hope to see them soon Re: How long to get building contracts 5May 05, 2015 6:36 pm Hi Harps, For us, it was 8 - 9 weeks. We paid the Initial Deposit at the end of January, had colours at the end of February and contract at the end of March. Mind you, we are waiting for land to title so they knew that we were not in a hurry. Cheers, Logician BLOG : http://balwyn196.blogspot.com.au Re: How long to get building contracts 6May 05, 2015 7:35 pm Hey harps, we paid our first deposit on the 13th August 2014 and received our full contract back on the 24th September 2014 (6 weeks) we then did all our colour, tile and electrical appointments and had the completed contract to the bank by the 23rd October 2014. It took 10 weeks in total. Re: How long to get building contracts 7May 05, 2015 7:45 pm Thanks everyone for your help, I thought they might have been palming me off but if its about average i don't mind the wait is the worst part and can't get full approval until building contracts. The waiting is the pits Re: How long to get building contracts 9May 05, 2015 9:19 pm Harps, No to put a damper on things but if waiting if upsetting you now perhaps building is not your thing. With the RBA dropping the rate down again today there will be another wave of building coming thru in the next few months. This may slow us all down a tad. It is not my intention to put you off, building your own place kind of puts a state of euphoria into ones own mindset , but you will need to develop a thick skin and learn to enjoy both the highs and lows of the building ride. However IMO 7 weeks seems fine , perhaps your broker and conveyncer just want to pressure you to speed things up so they can get paid quicker. Can't say I blame em, I'd do the same thing . Bets of luck to you Relax , breathe deeply and enjoy. Timeline Aug 08-Land Mar 09-Demo/Titles Sept 10-Handover No1 Sept 11-Handover No2 April 12-Sold No2 Aug 14-Land/Demo Jan 15-Slabs viewtopic.php?f=31&t=25736 Congratulations! Nice to put that to bed before christmas, now you can relax 3 7134 Industry type domestic contracts are prepared by industry bodies for the benefit of the builders. This means that if you are the owner watch out. One of the points is… 0 3212 MBA and HIA both have sub contract agreements, check them out 2 7303 |