Hi All
Hubby and I are looking to build in Canberra in a new estate. Yesterday we received from the builder a pricing proposal to build the house we like. I am now confused as to the process for signing up with the builder.
We have been told they require acceptance of the proposal within 21 days and following acceptance, building agreements will be prepared and the land sale will be instructed. Does this mean that we have to settle on all pricing and upgrades within the next 21 days or does this happen at the point of contracts being signed?
Also, due to the very long lead time for the land to be ready (not likely to be ready to build until June 2009), the builder has advised there will be a rise and fall clause in the contract in accordance with Clause 14. They advised they use a standard MBA building contract but we have no idea what clause 14 is. Can anyone assist with info on this clause?
Thanks!