Browse Forums Buying Land 1 Jun 26, 2012 3:53 pm Hi All, so we have just paid our holding deposit for a block of land, that won't be ready for building until december.. what happens now...???? Re: Holding Deposit paid... now what??? 2Jun 26, 2012 5:20 pm 1. Ask the developer about getting hold of any geotechnical information for the site. 2. Start looking at house designs. It can take a builder several months from the original approach to a start on site. The Harder You Try - the Luckier You Get ! Web site http://www.anewhouse.com.au Informative, Amusing, and Opinionated Blog - Over 600 posts on all aspects of building a new house. Re: Holding Deposit paid... now what??? 3Jun 26, 2012 5:23 pm Hi JTM, Basically you just sit & wait, the land probably needs to be developed (Roads, footpaths, street signs & trees etc) when everything is completed, the developer takes the docs to council who will rubber stamp the paperwork & the land/blocks will then be titled/released & your solicitor will be notfied & an exchange date will be booked. At exchange you will be required to pay for the land & receive your title (or your financer will get it if you have borrowed to purchase) After the land is titled, builders will be allowed access to do their checks on soil/fall/boundarys etc so that they can prepare to start building. Got a life, just can't find it! Re: Holding Deposit paid... now what??? 4Jun 26, 2012 5:34 pm Thanks Guys! Bashworth - House has already been chosen and we have sent our builder the lot layout etc - He will go and investigate the block himself and let us know what he thinks. Plus I will send him anything necessary as soon as I have or thy request. Will send query about geotechnic stuff nrh - Cheers. Re: Holding Deposit paid... now what??? 5Jun 26, 2012 5:43 pm OK Next thing has the site been pegged? You will need to be able to find the pegs in 6-7months otherwise the builder may charge you for re-establishing the boundaries. See some advice on my blog here about what to do: http://www.anewhouse.com.au/?p=386 The Harder You Try - the Luckier You Get ! Web site http://www.anewhouse.com.au Informative, Amusing, and Opinionated Blog - Over 600 posts on all aspects of building a new house. Re: Holding Deposit paid... now what??? 6Jun 27, 2012 11:23 am Thanks Bashworth, hasn't yet been pegged that i know of, but I am sure that it will be pegged as it's within an estate. Re: Holding Deposit paid... now what??? 7Feb 12, 2013 9:13 am Progress!!! The site is pegged, and the road almost complete! Land Registration supposed to be happening this month - off to the bank this Saturday! Going to then sit on it for about 6 months before starting the building process. This will be a painful wait! Re: Holding Deposit paid... now what??? 8Feb 12, 2013 9:38 pm Next job is to check what the standard inclusions are and then decide what upgrades you want. Find out what the builders standard offering are.More time on research now will make it easier when you get to selection/prestart. I always look at upgrading the power sockets because the standard provision is about half what I think is reasonable The Harder You Try - the Luckier You Get ! Web site http://www.anewhouse.com.au Informative, Amusing, and Opinionated Blog - Over 600 posts on all aspects of building a new house. Re: Holding Deposit paid... now what??? 9Mar 27, 2013 3:24 pm ok.. so we have paid the 10% deposit on the land and exchanged contracts subject to finance. Got our tender, and now the stupid bank valuer has undervalued the land/house by $24k less than the build cost!!! When in fact, once built will be worth minimum $50k more than the build... !!!!! In NSW the maximum deposit for building work is 5% until the builder provides HBCF insurance 1 4783 9 24623 This is one of the reasons I decided to go overseas for my double glazed windows. As the builder indicated, he's worked on many upmarket builds, these were the most well… 13 19014 |