Browse Forums Buying Land 1 Apr 19, 2020 4:25 pm HI all, I put a 5% deposit on a vacant land in Eden, North Kellyville. Developer's plan was to register by September 2020. My question is, if the market falls significantly due to corona virus recession, can I renegotiate the price? Is it normal for developer to change the price due to market circumstances? Any ideas would be appreciated. Re: Renegotiate Land price during Recession - Help 2Jun 27, 2020 9:25 am chennaiite HI all, I put a 5% deposit on a vacant land in Eden, North Kellyville. Developer's plan was to register by September 2020. My question is, if the market falls significantly due to corona virus recession, can I renegotiate the price? Is it normal for developer to change the price due to market circumstances? Any ideas would be appreciated. Just following this thread. We have been trying to negotiate a lower price before signing a contract for the same reason. Agents claim the market is currently buzzing due to $25k build grant but I’ve also read that house prices at tipped to fall 15% and don’t want to be stuck during construction. Will let you know how we go. I do know that a deposit isn’t binding if you haven’t signed a contract. We learned the hard way after paying a deposit and an agent sold the block while we were reviewing the contract. Re: Renegotiate Land price during Recession - Help 3Jun 27, 2020 9:40 am Pineapple23 chennaiite HI all, I put a 5% deposit on a vacant land in Eden, North Kellyville. Developer's plan was to register by September 2020. My question is, if the market falls significantly due to corona virus recession, can I renegotiate the price? Is it normal for developer to change the price due to market circumstances? Any ideas would be appreciated. Just following this thread. We have been trying to negotiate a lower price before signing a contract for the same reason. Agents claim the market is currently buzzing due to $25k build grant but I’ve also read that house prices at tipped to fall 15% and don’t want to be stuck during construction. Will let you know how we go. I do know that a deposit isn’t binding if you haven’t signed a contract. We learned the hard way after paying a deposit and an agent sold the block while we were reviewing the contract. Ouch! That must be so annoying! We hurried up knowing the market was picking up and lots were priced reasonably lower. My original post was regarding negotiating AFTER the contract has been signed but before registration. Not sure if that's even possible. Was looking for someone who may have tried it. Just to makea point about this, an approach that some people have found sucessful in negotiating these rises down, Is to provide some workings to the builder, specifying… 4 81734 i would suggest nothing is unreasonable for PCI. we did all sorts, including checking the hot water, checking all the GPO's had power, testing that the showers were… 9 98697 The only thing to add to these comments is that where possible it's always good to try and work with people than just say "no" because you can. Having someone… 4 17155 |