Our builder has asked us to give a 4.9% deposit after drawing up our house plans.
At this stage we won't be getting a contract. But after we pay the 4.9% we can go for colour selections and our plan will be sent in for all the necessary approvals.
We will have to pay a further 0.1% after the contract has been drawn up.
I am just a bit worried about having to pay 4.9% without getting a contract in return. Is it normal to pay 5% without getting a contract.?
More info: We have already paid a tender fee of $1000 and $5000 to draw the preliminary plans.