Browse Forums Building A New House 1 Mar 02, 2017 9:55 pm Hi everyone! Long time reader, first time poster My fiance and I have taken the plunge and have put an offer on a block of land in Forest Gums Estate, Weston. We have always loved Eden Brae homes and have been in contact with the Gillieston Heights sales reps there about a potential build. Our offer has been accepted, and we have a really great broker and conveyancer. Yesterday we received our conditional approval (pending land valuation - which was done today!) so we are expecting to hear back by mid-next week We do have a few questions which we were hoping some of you guys might be able to answer from your own experiences! Eden Brae have let us know that their current promo + price list is going to be updated within 3 weeks. We really want to lock in the prices and promo now for only $750, but from then we are expected to come up with the 5% deposit for the build date within about 7-9 weeks. They have already indicated that they will not deliberately delay this time. We will need a construction loan to pay this deposit! The land isn't due to register for 5 weeks, our finance for the land isn't unconditional, and we don't know how long it'll take for the land contracts to exchange. We are so worried that if we pay the $750, we'll run out of time for pay the 5%... As first home buyers, we feel so confused and overwhelmed by all the info we just don't know about this process. It feels like the more we learn, the more we worry! Can anybody shine light on this situation, or give an indication of how things work / how long they take?! .:. Building the Home of our Dreams .:. .:. Eden Brae Lawson 24 .:. Buying Land + Eden Brae Build 2Mar 03, 2017 6:39 am Forest gums estate is lovely! Well done! Land Registration is a tricky thing, don't bank on it registering when it is suppose to. I've just finished a build a wallis Creek Gillieston heights and my land registration was delayed by 6 months. In saying that it didn't affect my build. I had to pay 3k and nothing more until land was registered, we had settled gone through council and was on the construction list. Be mindful as well as the time frame your builder gives you from tender stage to construction. My builder was great and I had a year which suited me perfectly and didn't need to worry about the price rises. If your unsure about the Eden brae payment structure, go and speak to McDonald Jones I highly recommend them when buying un-registered land. Also be mindful of Cessnock council they can take a little when it comes to da approval. Friends of mine have recently built and Cessnock took like 8 weeks in comparison to Maitland, mine took 10 working days If you have any other questions I can try and help. Building a house can be very overwhelming! Re: Buying Land + Eden Brae Build 3Mar 03, 2017 1:02 pm Thank you for replying! Yay for another local! I just checked out your house and it looks stunning. Love your colour choices ? We are stoked with the land, and while not 100% dedicated to EBH, it is the design we love...and their current promo makes them super competitive. Can you let me know what we need to have to apply for construction finance? Do the land contracts need to be exchanged? The employee of EBH said the land doesn't need to be registered to lock in the build etc, but I've heard conflicting stories... Basically, what happens next? Thanks in advance .:. Building the Home of our Dreams .:. .:. Eden Brae Lawson 24 .:. Re: Buying Land + Eden Brae Build 5May 08, 2017 4:34 pm My husband and i just signed a contract back in December in Leppington with Eden Brae. Its all very confusing as we are first home buyers too. Our land registered end of March instead of January. Our Bank has given us the money for the land and repayments start this week!! Our building should begin by the end of May which should of started in March but because the land was late it didn't. We paid our 5% for construction on the day we signed the contract back in December and haven't paid anything else since. They do progress payments eg 20% when slab is poured, 25% when frame is up, 20% when brickwork is complete etc I believe the land doesn't need to be registered to lock in the build With ours it was a house & land package so EB took care of a lot of the exchange, we had to have a solicitor look over it and the rest maybe different for you as you aren't doing package so I'm not sure. Hopefully some of the above has helped you. good luck! Yeah I don't know why I came to a forum. Place is full of wierdos/pedos thought internet may help but I suppose I'll try my luck with someone in person. Cheers. I tried… 0 4080 Thank you so much everyone. This all makes a lot of sense. I guess when you talk to a builder who butters up everything to look very polished, you get to start believing… 8 2249 |