Browse Forums Home Finance 1 Mar 21, 2010 8:24 pm Hey Everyone We have currently paid our builder a 5% deposit on our house (The first payment, next being slab etc). We don't have a slab or any construction complete yet, just site scrape last Tuesday. If we decided to back out at this stage.. A) Are there any penalties/fees to back out? B) Do we get any of that initial deposit back? Thanks for any advice Lara and Joshua http://pdheywood25.blogspot.com/ viewtopic.php?f=31&t=31186 16.03.10 Scrape 29.03.10 Slab 08.04.10 Frame 11.05.10 Lock Up 03.06.10 Fixing 24.08.10 Handover Re: Can we get any of our first home deposit back? 2Mar 21, 2010 8:29 pm I'd check your contract, as there may be some costs associated with the site scrape. In terms of your deposit, very sure you won't get any back, given that they did a soil test, colours, engineering and drafting so there's a few people's time involved. You should be able to get the soil report though. Good luck and let us know what you decide.. My house and my rants.... - viewtopic.php?f=31&t=26937 We are in!!!...and still unpacking. Thankfully there are always Tim Tams Re: Can we get any of our first home deposit back? 3Mar 22, 2010 6:35 pm whoa, you need to assess your options quick smart, you will have a contract in place. why the change?? if its a finance issue talk it through with your bank and possibly put it on the market, if its a dont want this builder any more, you have got no comeback. whatever you decide you will need costly legal advice. Re: Can we get any of our first home deposit back? 4Mar 22, 2010 7:05 pm Nevermind, we are going ahed with it after all We found a solution to our problem. Lara and Joshua http://pdheywood25.blogspot.com/ viewtopic.php?f=31&t=31186 16.03.10 Scrape 29.03.10 Slab 08.04.10 Frame 11.05.10 Lock Up 03.06.10 Fixing 24.08.10 Handover In NSW the maximum deposit for building work is 5% until the builder provides HBCF insurance 1 4830 In Qld it is a requirement that a builder must have a cost breakdown, for building a home to the same specification, with the same inclusions and the same finish. So ask… 1 4354 My land is 260m2 (10m x 26m) located in claymore NSW. Under campbelltown council. I know in general the following setbacks would apply ground floor side setback =… 0 6933 |