Browse Forums Buying Land 1 Apr 27, 2016 2:24 pm I've been looking for land around the south east and noticed the estates keep releasing land and the good land gets sold immediately. They send out emails asking people for 1000 deposits so they can get a hold on the land yet the website says its not released till another date 5 days later or so. The day after all the land is listed as available and has different prices to the day before. So why was i told its not available and they send me a list of smaller lands or ones facing south... yet the website says its all available? is the land that always go's quick already going to the people with deposits or can someone offer a higher amount then the agent sells it to them instead? Re: Does the deposit mean the lands yous? 2Apr 27, 2016 7:11 pm It depends on the developer. In our case we purchased and paid $1000 holding deposit to take the land off the market - it's wasn't 100% ours yet as there is no signed contract. This happened on the day of release. We spent a few weeks researching things and talking to the sales office to find out the release dates and we were there 10 minutes after they opened on that day. The websites are never accurate - I found that in our case the developer takes 7 days or so to update the websites. Other developers ask for the holding deposit to just get a chance to go into the office and choose the block you want. It's a case of first in, first appointment - and if you miss your appointment time you go to the back of the line. In this case the holding deposit is refundable if you don't get a block, and if you do choose a block it goes towards the cost. On the subject of pricing, the developers just keep increasing the prices every month or each release as they need to recoup the interest on the land over time - I found in our case the price for the same size land (400sqm) in the next stage (only 100m away) increased by $8000 2 weeks after we signed. Re: Does the deposit mean the lands yous? 3Apr 27, 2016 7:24 pm Nope, it is only yours when you put pen to contract Re: Does the deposit mean the lands yous? 5Apr 27, 2016 9:37 pm Build thread viewtopic.php?f=31&t=81011 Re: Does the deposit mean the lands yous? 7Apr 27, 2016 10:35 pm i know that u can offer more to sellers who use real estate agents and private sellers but im enquiring if estate agents can because ive waited through 10 stages already and been told each time the better land is gone and then sent emails of the remaining land so a now asking about the lands that are on hold are usually the better ones taken first can you offer the agent more money and get the land before the other person signs the contract and if so why has the agent never told me that. Re: Does the deposit mean the lands yous? 8Apr 27, 2016 11:18 pm wazza01 the lands that are on hold are usually the better ones taken first can you offer the agent more money and get the land before the other person signs the contract and if so why has the agent never told me that. The land is on hold only for the person who puts the money down, they then have a period of time (in my case it was 7 days) to either sign the contract or withdraw the hold. You won't be able to offer more money to get that land. New estates is always a case of first in first served so your only real option is to badger the sales offices weekly for info on releases and find out the actual process the developer uses. I'd not be surprised if the $1000 deposit in the high demand areas is to get you on the waiting list to wait your turn to select a lot, not necessarily on the next release but in future which probably explains why you keep getting left behind. In NSW the maximum deposit for building work is 5% until the builder provides HBCF insurance 1 4829 I've just built 3 stairs off a landing out the back and been told by the private certifier I need hand rails sorry tried to attach a pic but couldn't mine don't have sides… 5 5720 i had the my concreters concrete right up to the fence. I have pits all along my path, so the water tends to drain away from the house and into the pits. There's only one… 7 12784 |