I remember seeing in this forum that if using Choice, at the tender appointment with Porter Davis, I don't need to pay much. But if go without Choice, 5% needs to be paid. I can't find that thread. Could anyone clarify this for me? Also,correct me if I'm wrong: if I don't go with Choice, the bank that I directly deal with will pay the 5% for me. ?
If you go with choice when building with PD you can Pay $600 inital deposit to lock in the prices then $1500 at tender... Total = $2100
The remainder of the 5% deposit will be taken when the first draw down of your loan happens (@ Slab stage).
We used this option but are now considering going to the banks directly as we had problems with our valuation and dont feel that Choice have put enough pressure on the lender to revalue the property.
I think might be just what I am feeling (as im angry/disappointed as things are not going smooth) and not nessacarly Choice doing the wrong thing as everything is done by proxy and you dont hear direct from the bank(left out in the cold).
If I was doing this again I would probably go straight to the lender, but saying that if everything went through OK going through a broker dose make it alot easier/less time consuming.