Browse Forums Home Finance 1 Feb 05, 2013 5:48 pm Hi All, So, we were approved for our loan mid November last year. We have been through prestart and council approval. The bank and builders are ready to go, but we haven't been able to get past settlement yet. The developers we signed the contract for the block through initially, went into receivership so the old contract was canned and we signed the new one in the new developers name a week or 2 before christmas. Our settlement agent has apparently been pushing and pushing the land agents, but we have just been told today that settlement has been pushed back indefinitely again, for the 4th time. From what we know there is a caveat on the block. Westpac have there name on the title and can't be bothered taking it off because there is no money in it for them. So we have been told anyway (whether it is a load of BS or not I don't know!) So my question is, has anyone else ever been in this situation - what did you end up doing/what happened? Is it better to just wait it out or should we can the whole thing and start again? I don't know whether I'm being melodramatic or whether there is cause to worry as this our first build and we are as green as anything when it comes to this process. Any words of wisdom/professional advice/knowledge would be much appreciated! Thanks, StepMamma Re: Settlement Debarcle - Need advice please 2Feb 05, 2013 7:02 pm Can't say I have experience with this scenario but from the sounds of it, Westpac and the original developers (or their receivers) are involved in a fight over unpaid finances. If so it might take a while to rectify. It might be worthwhile getting advice from a lawyer on what your options are. Cheers Tom Re: Settlement Debarcle - Need advice please 3Feb 05, 2013 10:06 pm There is a process with caveats - maintaining them and removing them. Definitely get the details and get legal advice as to the fastest way to get everything moving. Are you working with a conveyancer or lawyer for the purchase? They should be advising you on this! Land settled May '14. Building the PD Hoffman39: 5/11=site start, 13/11=slab pour, 26/11=frame complete, 10/12=roof on, 12/12=bricking started. Blog: http://jyndeira.net/blog/ Re: Settlement Debarcle - Need advice please 4Feb 06, 2013 9:15 pm Hi, dragonchild and plc. Thanks for your replies. Much to our relief westpac have lifted the caveat and settlement is booked for tomorrow. We have settlement agents working for us, but that's it as far as professionals. Hopefully all goes smoothly and there are no more hold ups tomorrow. Thanks again for replying. StepMamma Thank you so much for the effort. We will use it to talk with builder. We also had idea of building duplex instead and seeking suggest ions. viewtopic.php?f=31&t=106744 11 13817 Levelling compound Ardit is the best but buy a bag of sand and make sand dam to protect your wood floor 2 15244 XCEM Alpha flooring seems to relatively new and I could not found any reviews. Have you or someone you know have used it and would recommend over other subfloor options?… 2 7574 |