Browse Forums Building A New House Re: Worst Case Scenario after initial deposit- FairHaven Hom 11Feb 12, 2019 10:53 am For anyone looking at this for information these are the standard terms with any builder. I began the same process with another builder and left before tender and lost my initial deposit until i fought it. I was given it back due the house i wanted not fitting on the block like the sales consultant had said it would so their error not mine. I also have built with fairhaven and paid my deposit under similar circumstances above and Fairhaven honoured their word and did not charge the build price increase the day after i paid my deposit. As to when i come to title dates, you need to evaluate the price increase in the build cost and the price holding fee together. I personally found that paying the holding fee for going 4 months over time before site start was thousands of dollars less than the holding fee i paid. Land deposit 14 Nov 2015 House deposit 4/9/16 Land title 15/5/17 Quote signed off 28/1/17 Colour selection 21/2/17 Tender appointment 28/3/17 Developer Building approval ??? Site start 11 July 2017 We are looking to do a KDR with fairhaven homes, Have seen plenty of good reviews about them pre construction and plenty of negative reviews about them during contruction… 0 18027 In NSW the maximum deposit for building work is 5% until the builder provides HBCF insurance 1 4813 Ask for references and speak to them. If they are defensive or try to avoid the request, walk. 1 74688 |