Browse Forums Building A New House 1 May 12, 2015 8:27 am Hello, I am seeking advise from you people. My partner and I are buying off the plan with KB Homes and we are first home buyers (280m squared). We are up to the last process of exchanging contracts, however we had to negotiate a few things which are stopping us from exchanging at this point: - Variance could be built from 8% - (we wanted 2% but they came back with 5% which is ridiculous becuase the land is so small) - KB Homes will not put the plans in the contract!!!! My solicitor said this is very strange, and most vendors will include the plans in the contract. What do you guys think and what would you do? Do you think they have something to hide? I need to contact my solicitor this afternoon or tomorrow with an answer and im confused....Biggest purchase of my life and this doesnt seem too assuring for us. Is it too much of a risk and should i walk away? Any urgent assistance is much appreciated thankyou. Re: ADVICE PLEASE Contract exchange due today - Buying off p 2May 12, 2015 8:36 am Anyone reading this, could you please post your opinion. Re: ADVICE PLEASE Contract exchange due today - Buying off p 3May 12, 2015 8:37 am If you are exchanging contracts you need to know what the contract is for. The plans are an important way of describing what you are getting. The Harder You Try - the Luckier You Get ! Web site http://www.anewhouse.com.au Informative, Amusing, and Opinionated Blog - Over 600 posts on all aspects of building a new house. Re: ADVICE PLEASE Contract exchange due today - Buying off p 4May 12, 2015 8:40 am bashworth If you are exchanging contracts you need to know what the contract is for. The plans are an important way of describing what you are getting. I agree, however my partner is saying "oh but they built 14 other homes in the same area without plans in the contract and they turned out fine, cant we just put trust in them?" thoughts? Re: ADVICE PLEASE Contract exchange due today - Buying off p 5May 12, 2015 8:49 am Flint1080p I agree, however my partner is saying "oh but they built 14 other homes in the same area without plans in the contract and they turned out fine, cant we just put trust in them?" thoughts? My view of the world is In God we trust. . . . for everyone else a detailed contract please! The Harder You Try - the Luckier You Get ! Web site http://www.anewhouse.com.au Informative, Amusing, and Opinionated Blog - Over 600 posts on all aspects of building a new house. Re: ADVICE PLEASE Contract exchange due today - Buying off p 6May 12, 2015 9:36 am Flint1080p - KB Homes will not put the plans in the contract!!!! My solicitor said this is very strange, and most vendors will include the plans in the contract. What do you guys think and what would you do? Do you think they have something to hide? I need to contact my solicitor this afternoon or tomorrow with an answer and im confused....Biggest purchase of my life and this doesnt seem too assuring for us. Is it too much of a risk and should i walk away? Trust your solicitor on this one. It is really strange they won't include the plans in the contract. If they don't they have the ability to change what they're building later if they want to. Also, your bank will want to see house plans, they want to know what they're funding. In the unfortunate event that the builder changes what they're building (and builds a 2br instead of a 4br for example) your bank can (and likely will) come back and value your house for less which means you're up for the extra money. This isn't a risk I'd be willing to take. We built the Rathdowne with Simonds Express in Western Melbourne Site start Oct. 2015 Keys Jan. 25th, 2015 My build thread -here- Re: ADVICE PLEASE Contract exchange due today - Buying off p 7May 12, 2015 9:39 am The point about the bank is a good one. We HAD to have plans to get finance approval. I really don't see why a copy of the plans wouldn't be in the contract. Make it clear you'll walk if they don't include them. Jen (& Dave) Plantation Bronte, Ormeau Ridge, Gold Coast QLD 12/03/2015 - Commencement... 26/08/2015 - Handover! viewtopic.php?f=31&t=76446 Re: ADVICE PLEASE Contract exchange due today - Buying off p 9May 12, 2015 10:10 am Megera Flint1080p - KB Homes will not put the plans in the contract!!!! My solicitor said this is very strange, and most vendors will include the plans in the contract. What do you guys think and what would you do? Do you think they have something to hide? I need to contact my solicitor this afternoon or tomorrow with an answer and im confused....Biggest purchase of my life and this doesnt seem too assuring for us. Is it too much of a risk and should i walk away? Trust your solicitor on this one. It is really strange they won't include the plans in the contract. If they don't they have the ability to change what they're building later if they want to. Also, your bank will want to see house plans, they want to know what they're funding. In the unfortunate event that the builder changes what they're building (and builds a 2br instead of a 4br for example) your bank can (and likely will) come back and value your house for less which means you're up for the extra money. This isn't a risk I'd be willing to take. Thank you so much for your response.. I agree with you. Another thing i forgot to mention was that we have the plans, 2 different copies we have recieved from them, but still refuse to put them in the contract. So its not like the plans don't exist, they do and won't put them in the contract. Re: ADVICE PLEASE Contract exchange due today - Buying off p 10May 12, 2015 11:36 am Thank you for all your responses. I am now prepared to walk away thanks to all this advice from everyone. I feel like i am making the right decision now. If the plans are not being put in the contract, i am not signing. My girlfriend doesnt see it this way though, she is too emotionally invested in the house and is ignoring all these risks, she wants the house so damn bad. Re: ADVICE PLEASE Contract exchange due today - Buying off p 11May 12, 2015 11:39 am Flint1080p Thank you for all your responses. I am now prepared to walk away thanks to all this advice from everyone. I feel like i am making the right decision now. If the plans are not being put in the contract, i am not signing. My girlfriend doesnt see it this way though, she is too emotionally invested in the house and is ignoring all these risks, she wants the house so damn bad. We all get emotionally invested, it's totally understandable! The builder may magically change their mind when they realise you're going to walk if they don't do it. It's a huge decision and you don't want to regret it later. Good luck Jen (& Dave) Plantation Bronte, Ormeau Ridge, Gold Coast QLD 12/03/2015 - Commencement... 26/08/2015 - Handover! viewtopic.php?f=31&t=76446 Re: ADVICE PLEASE Contract exchange due today - Buying off p 12May 12, 2015 12:12 pm Ilaeria Flint1080p Thank you for all your responses. I am now prepared to walk away thanks to all this advice from everyone. I feel like i am making the right decision now. If the plans are not being put in the contract, i am not signing. My girlfriend doesnt see it this way though, she is too emotionally invested in the house and is ignoring all these risks, she wants the house so damn bad. We all get emotionally invested, it's totally understandable! The builder may magically change their mind when they realise you're going to walk if they don't do it. It's a huge decision and you don't want to regret it later. Good luck Yeah, i feel like they will bring the "take it or leave it" attitude. But if they do that so be it. GF thinks we might regret NOT getting it, driving past it, watching it get built ect. How would you respond to that? I think we will find something better and wont regret it since we will be in love with a different house, right? Re: ADVICE PLEASE Contract exchange due today - Buying off p 13May 12, 2015 12:22 pm Exactly. If you have to walk now, it wasn't meant to be, and it gives you an opportunity to refine exactly what you really want and do even better on round two Jen (& Dave) Plantation Bronte, Ormeau Ridge, Gold Coast QLD 12/03/2015 - Commencement... 26/08/2015 - Handover! viewtopic.php?f=31&t=76446 Re: ADVICE PLEASE Contract exchange due today - Buying off p 15May 12, 2015 1:28 pm Jojeke Have you paid a deposit? I'm considering giving my builder the flick too at the moment. I have got the deposit cheque with my solicitor at the moment with the signed contract but will be telling him to not exchange and cancel. Re: ADVICE PLEASE Contract exchange due today - Buying off p 16May 12, 2015 1:34 pm At least you haven't lost any money to them. I'm looking at losing $2000 if I walk. Don't even get me started on the time I have wasted with them. Just like you I may be back to square one. Unlike your girlfriend I'm not that emotionally attached to the plans, I still own the block. Re: ADVICE PLEASE Contract exchange due today - Buying off p 17May 12, 2015 2:11 pm Jojeke At least you haven't lost any money to them. I'm looking at losing $2000 if I walk. Don't even get me started on the time I have wasted with them. Just like you I may be back to square one. Unlike your girlfriend I'm not that emotionally attached to the plans, I still own the block. Damn son, that sucks, i feel sorry for you. Wish you best of luck Re: ADVICE PLEASE Contract exchange due today - Buying off p 18May 12, 2015 2:51 pm Guys, good news! The real estate agent has called me back saying the vendor has agreed to put the plan in the contract! im so happy! Im 95% sure we are going to go ahead with it now! wow this is really long emotional rollercoaster Re: ADVICE PLEASE Contract exchange due today - Buying off p 19May 12, 2015 2:56 pm Awesome news Jen (& Dave) Plantation Bronte, Ormeau Ridge, Gold Coast QLD 12/03/2015 - Commencement... 26/08/2015 - Handover! viewtopic.php?f=31&t=76446 0 4934 You talk about deletions, are they variations or PS and PC adjustments? pleas list them 1 16455 There is no reason why building contract reconciliation cannot be done prior to handover, if the builder won't do it get someone to do it for you. Why would you pay for… 3 6632 |