Browse Forums Buying Land 1 Mar 27, 2013 11:54 pm I have signed up for a house and land package in WA. The builder and land agent are separate to each other but the builder found me the block. So i signed the offer for the block with 60 days finance, then signed the ppa for the house a day later. I got the land acceptance the next day. I was told the building contract would take about 6 weeks so that left me a couple of weeks to get the loan. The builder has now told me the contract will take 8-10 weeks to collate. Im at week 6 currently so i have 3 and a bit weeks left to get the loan. I asked when the 8-10 weeks actually started but didn't get a straight answer. Ive asked the builder what the go is and they've said they will contact the land owners to get an extension. Is this normal? Im a bit worried that they could say no... Im not sure if i should contact the land agent or the conveyancer myself....or should i just trust the builder?? I keep emailing them every few days and they say they are chasing it up... Any tips? Re: Extension of finance for bulding contract 2Mar 28, 2013 12:37 am Is it in an estate? Chances are they will extend as they have already waited this long and even if it went back on the market they would have to start this whole process again. Developers understand it does sometimes takes extra time to get the build contract sorted. We offered on our block privately and so originally only had 30days to get finance, our contracts weren't ready in time and the real estate agent was happy to give us an extension. Then had to get an extension for settlement as well. Good luck!! Re: Extension of finance for bulding contract 3Mar 28, 2013 1:07 am Yeah its a smallish development, 20 or so blocks. Not a big developer. the finance has fallen through on this block once, before i jumped on it, so hopefully they are slightly more desperate to offload it. Just not sure if i should take matters into my own hands or wait it out a bit longer. Thanks! Re: Extension of finance for bulding contract 4Mar 28, 2013 4:54 am ".or should i just trust the builder?? Trust is when someone is doing something to you when your eyes are closed It's a form of blindness 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: Extension of finance for bulding contract 5Apr 05, 2013 11:36 am JB I was able to get a good 4-5 months extension on my block because my bank couldn't give us an approval until we had our house sorted, developer was fine with it as long as we kept an open and honest communication line. edit: we were also waiting for land to title Oct 10 - Council Approval Oct 23 - Site scrape Oct 29 - Footings and Prelay OCT 30 - Slabbed Nov 6 - Bricks Delivered Nov 13 - Brickwork started Re: Extension of finance for bulding contract 6Apr 07, 2013 10:36 pm I've had nearly 6 months of extensions due to waiting on land titles. It shouldnt be any issue, just discuss with the developer. Another path is to take out a loan for land only and have the building loan added on when contracts are all sorted. Perhaps speak to a broker? My Thread: viewtopic.php?f=31&t=62001 Re: Extension of finance for bulding contract 7Apr 10, 2013 10:24 pm So far ive got a 1 week extension from the developers. hopefully that will be enough but im not optimistic. The land is already titled. Im trying to avoid buying the land only because of the stamp duty which will be $6k, the bank guy said i may be overburdened if i went that way but i can apply for a refund once the slab is laid. You talk about deletions, are they variations or PS and PC adjustments? pleas list them 1 16542 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 55068 Hi, We have a single story MacDonald Jones house, on a waffle pod slab with steel frame. Are we able to build a second story extension? Other info is we are 900mm from… 0 8374 |