Browse Forums Building A New House 1 Jun 18, 2018 5:59 pm Hi guys, I have already signed contract, and finished the color selection appointments. I feel like the, inclusions are designed very basic and they expect us to upgrade everything. I have paid less than 5% so far. The base cost was $458K and now it's keep increasing over $560k. Still I feel the house bare minimum. Now they are pushing me to sign PCVs saying that they going to submit the documents to the developers approval. The land is not yet registered. I am thinking of cancelling the contract before it gets worse. Any suggestions? Who should I contact? Will I be paying anything else now if I have to cancel the contract. Thanks Current State: Slab/Frame/Bricklayer/Lockup/Lining/Stairs/Kitchen/Wet flooring/Painted/PCI/Got the Keys My Thread: Building Windsor 40 with Eden Brae (Caddens) Re: What's involved in cancelling a building contract? 2Jun 18, 2018 8:50 pm You should get your lawyer to do this for you correctly. Foremost Building Expert in Australia,assisting with building problems/disputes, building stage inspections,pre-contract review advice for peace of mind 200 blogs http://www.buildingexpert.net.au/blog Re: What's involved in cancelling a building contract? 3Jun 19, 2018 3:34 pm building-expert You should get your lawyer to do this for you correctly. Will look into it. Thanks Current State: Slab/Frame/Bricklayer/Lockup/Lining/Stairs/Kitchen/Wet flooring/Painted/PCI/Got the Keys My Thread: Building Windsor 40 with Eden Brae (Caddens) Re: What's involved in cancelling a building contract? 4Jun 24, 2018 3:11 pm InvincibleInDN Hi guys, I have already signed contract, and finished the color selection appointments. I feel like the, inclusions are designed very basic and they expect us to upgrade everything. I have paid less than 5% so far. The base cost was $458K and now it's keep increasing over $560k. Still I feel the house bare minimum. Now they are pushing me to sign PCVs saying that they going to submit the documents to the developers approval. The land is not yet registered. I am thinking of cancelling the contract before it gets worse. Any suggestions? Who should I contact? Will I be paying anything else now if I have to cancel the contract. Thanks Hi , Would you let me know what have you done ? . I am in a similar situation. My loan hasn't been approved yet and my contract has a subject to funance clause. Please advise Re: What's involved in cancelling a building contract? 5Jun 25, 2018 8:19 am akashjohn2006 InvincibleInDN Hi guys, I have already signed contract, and finished the color selection appointments. I feel like the, inclusions are designed very basic and they expect us to upgrade everything. I have paid less than 5% so far. The base cost was $458K and now it's keep increasing over $560k. Still I feel the house bare minimum. Now they are pushing me to sign PCVs saying that they going to submit the documents to the developers approval. The land is not yet registered. I am thinking of cancelling the contract before it gets worse. Any suggestions? Who should I contact? Will I be paying anything else now if I have to cancel the contract. Thanks Hi , Would you let me know what have you done ? . I am in a similar situation. My loan hasn't been approved yet and my contract has a subject to funance clause. Please advise I haven't done nothing at the moment. I am just waiting for the builder to give me the complete price to talk to the bank. Current State: Slab/Frame/Bricklayer/Lockup/Lining/Stairs/Kitchen/Wet flooring/Painted/PCI/Got the Keys My Thread: Building Windsor 40 with Eden Brae (Caddens) Re: What's involved in cancelling a building contract? 6Oct 19, 2018 8:22 pm InvincibleInDN akashjohn2006 InvincibleInDN Hi guys, I have already signed contract, and finished the color selection appointments. I feel like the, inclusions are designed very basic and they expect us to upgrade everything. I have paid less than 5% so far. The base cost was $458K and now it's keep increasing over $560k. Still I feel the house bare minimum. Now they are pushing me to sign PCVs saying that they going to submit the documents to the developers approval. The land is not yet registered. I am thinking of cancelling the contract before it gets worse. Any suggestions? Who should I contact? Will I be paying anything else now if I have to cancel the contract. Thanks Hi , Would you let me know what have you done ? . I am in a similar situation. My loan hasn't been approved yet and my contract has a subject to funance clause. Please advise I haven't done nothing at the moment. I am just waiting for the builder to give me the complete price to talk to the bank. Hi We had to terminate our contract as our approval expired due to land titling so late but we didn’t get approval to build when we re applied! Builder took our 5% deposit as they stated they were within their rights to charge a reasonable amount for work already completed including colour selection appointment and submitting plans for developers approval. So be very careful before you cancel the contract. It should be subject to finance but we had already submitted a letter from the bank stating we had been approved (the first time) so it was technically unconditional after that. We are just devastated we lost so much money. I would never sign a building contract before land has titled ever again. Re: What's involved in cancelling a building contract? 7Oct 19, 2018 8:28 pm Melissa.prinsloo Hi We had to terminate our contract as our approval expired due to land titling so late but we didn’t get approval to build when we re applied! Builder took our 5% deposit as they stated they were within their rights to charge a reasonable amount for work already completed including colour selection appointment and submitting plans for developers approval. So be very careful before you cancel the contract. It should be subject to finance but we had already submitted a letter from the bank stating we had been approved (the first time) so it was technically unconditional after that. We are just devastated we lost so much money. I would never sign a building contract before land has titled ever again. Hi Melissa We were thinking about terminating but continued with them because of the reasons you mentioned. So far, no problem. Waiting for the construction certificate. Thanks Current State: Slab/Frame/Bricklayer/Lockup/Lining/Stairs/Kitchen/Wet flooring/Painted/PCI/Got the Keys My Thread: Building Windsor 40 with Eden Brae (Caddens) Re: What's involved in cancelling a building contract? 8Oct 25, 2018 7:31 am Melissa.prinsloo Hi We had to terminate our contract as our approval expired due to land titling so late but we didn’t get approval to build when we re applied! Builder took our 5% deposit as they stated they were within their rights to charge a reasonable amount for work already completed including colour selection appointment and submitting plans for developers approval. So be very careful before you cancel the contract. It should be subject to finance but we had already submitted a letter from the bank stating we had been approved (the first time) so it was technically unconditional after that. We are just devastated we lost so much money. I would never sign a building contract before land has titled ever again. have you considered consulting a different broker and re-applying? I know there are lenders that have high interest rate but they do give loans easily. Re: What's involved in cancelling a building contract? 9Dec 04, 2018 10:34 pm immu999 Melissa.prinsloo Hi We had to terminate our contract as our approval expired due to land titling so late but we didn’t get approval to build when we re applied! Builder took our 5% deposit as they stated they were within their rights to charge a reasonable amount for work already completed including colour selection appointment and submitting plans for developers approval. So be very careful before you cancel the contract. It should be subject to finance but we had already submitted a letter from the bank stating we had been approved (the first time) so it was technically unconditional after that. We are just devastated we lost so much money. I would never sign a building contract before land has titled ever again. have you considered consulting a different broker and re-applying? I know there are lenders that have high interest rate but they do give loans easily. Can you pass me details of the broker who can help? Thanks mate. Re: What's involved in cancelling a building contract? 10Jun 13, 2019 11:04 pm Hi everyone You can get your money back if you signed a Standard HIA contract and paid 5%. You are within your rights to get your money back regardless. However if their special conditions (which builders usually add to a standard contract) state otherwise, then you may not be able to. I would check with your solicitor. Thanks Girgis You talk about deletions, are they variations or PS and PC adjustments? pleas list them 1 16548 I've decided, after a period of confusion (my building broker told me it's probably not worth it to use a lawyer, but others have said it is a must) that I definitely will… 7 27950 |