Browse Forums Building A New House Re: Subject to Finance Clause 2May 14, 2020 6:32 pm The initial deposit amount is for the Preparation of Plans (approx 3-5% of the contract value) The builder draws down on that for the Contour survey, geotech Soil report/engineering and DA application Unfortunately that is not refundable as it is money spent If your finance is declined then you can't use the Builders Drawings etc, That subject to copyright Be prepared to loose 3-5% of the contract value each time if you pull out...Goodluck Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: Subject to Finance Clause 3Jul 25, 2020 7:07 am Check state laws. Some states have a deposit requirement, some don't. When we bought our house we only put down a $1000.00 deposit as we weren't legally obligated to provide a minimum, but we weren't building. If your state doesn't stipulate a legal minimum, negotiate with the builder. But any deposit just at the very early stages, well a bank should be able to provide a pre-approval before you even get to that stage of signing any contract with a builder. Unless there is something in special conditions the builder does not have to give you timeline. If your demolition contractor has not removed Asbestos and it was found… 12 28799 you were just referred to get advice from your solicitor. This is a legal matter. Separately, why would you use a buyers agent for a house and land package? 3 55952 |