Browse Forums Building A New House 1 May 11, 2014 9:35 pm Building: The Maxum Builder: New Generation Homes Estate: Springtime Estate, Xavier ____________________________ Our build: viewtopic.php?f=31&t=73924 Re: Signing building contract before Lands titled - HELP!!! 2May 11, 2014 9:47 pm as far as I know some builders can freeze the contract price for one year, and after one year they will revise the contract price, have you try to negotiate this with your builder? Re: Signing building contract before Lands titled - HELP!!! 3May 11, 2014 9:54 pm No I haven't.. I didn't know you can do that.. Is it really possible? Building: The Maxum Builder: New Generation Homes Estate: Springtime Estate, Xavier ____________________________ Our build: viewtopic.php?f=31&t=73924 Re: Signing building contract before Lands titled - HELP!!! 4May 11, 2014 10:02 pm Burbank advertised this when I was signing, I start building it right after the land settlement so didn't pay much attention... never hurt to try, ask if your builder can fix the contract price for you for a while? Re: Signing building contract before Lands titled - HELP!!! 5May 11, 2014 10:06 pm Okay.. I'll have to ask him.. I'm also gonna call the builders registration board to seek for advices too thanks for the tip! Building: The Maxum Builder: New Generation Homes Estate: Springtime Estate, Xavier ____________________________ Our build: viewtopic.php?f=31&t=73924 Re: Signing building contract before Lands titled - HELP!!! 6May 12, 2014 3:54 am My advice is not to sign. Since even you sign today, it doesn't mean that they cannot have the change the price again later. You will end up with paying the "extra" somewhere along the line. ie: if you are really unfortunate enough not to have your land titled by Nov and might be postponed to say March next year. Do you think the builder will honor the price they a year or so ago? If it is in contract.. they will. But you will expect bits and pieces throw at you at a much higher cost. Also you will be locked with the contract. There are also chances that your builder might discontinue certain plans they have after they have built a certain number of it. I would play it safe. But if you really want that plan, you just need to have your builder make sure the plan will be available and prepare to absorb the extra costs. Re: Signing building contract before Lands titled - HELP!!! 7May 12, 2014 1:15 pm Hey IssyandOzzy, we had a similar situation where our land was meant to settle in August last year. It didn't happen until last month. We had however signed the building contract around May last year. the way the home contracts works was that we got hit by fee increased because of the delay. we knew it would happen and had to negotiate with the land developer to pay part of the increased fee. I know several people that were in the same boat where they signed their building contract before the land was titled. I would strongly encourage to review your contract and to iron out clauses where the builder is able to charge you more for things outside theirs and your control. (good ol' HIA) Re: Signing building contract before Lands titled - HELP!!! 8May 12, 2014 1:40 pm This is pretty common now i believe - land titles seam to be falling further and further behind. I'm also waiting for land to be titled, due in a few weeks now however was 6 months out when i bought it. I signed a Preliminary Works Agreement (PWA) approx 2 months ago with the builder to secure the promotion and the price - also paid a 3k deposit. My understanding is the price is fixed for 6 months from date of signing. It's not actually a building contract and you can essentially walk away and just lose your deposit. Whilst not ideal - at least it's only a small amount. If the titles are more than 4-5 months away though i don't see the point in signing a contract now though, because if it slips later you'll end up paying for any additional costs after the 6 month period anyway. Re: Signing building contract before Lands titled - HELP!!! 9May 13, 2014 5:59 am I'm in the same boat now. My land doesn't register till late on this year. But I've signed my building contact a couple months ago. At first I was scared but because clarendon had this particular land that I really wanted on hold I had to do it. It cost me 6k to put an extended tender in so now I'm locked in to my price till nov15. If everything goes ok with my land which it should before then I'm safe, if not I might need to pay extra for the price increase. Re: Signing building contract before Lands titled - HELP!!! 10May 14, 2014 9:07 am Thanks for your replies everyone! Omgsh it's so annoying when these things happen.. Especially as land titles have nothing to do with you and can't be helped by anyone except the developer.. It's good to know that it's not just happening to me and that it's a common thing.. I'm just scared that by November, if our lands don't title it'll be extra and extra.. For some people titles can go up to a year not being title from the expected release.. I'm negotiating my contract with my builder ATM, so hopefully things pan out.. He wants us to pay $1000 for every month that the lands don't title Anybody know any builder that price holds for a year? Building: The Maxum Builder: New Generation Homes Estate: Springtime Estate, Xavier ____________________________ Our build: viewtopic.php?f=31&t=73924 Re: Signing building contract before Lands titled - HELP!!! 11May 14, 2014 9:26 am As someone who signed their building contract before their land titled, and ended up waiting a further 9 months for the land to title (when it was meant to be 3), I will say don't do it. It caused so many headaches for us and I think they would have been avoided if we signed after our land titled. I know that in Victoria, it is a breach of the Building Contracts Act for a builder to enter into a contract with a client if they don't do a soil test and have site costs. I am unsure where you live but you might want to get some legal advice about the implications of signing a contract before you have your land. My advice is just keep on saving rather than signing up now and paying fees for the land being delayed. Good luck! Re: Signing building contract before Lands titled - HELP!!! 12May 14, 2014 11:07 am ftdt7882 As someone who signed their building contract before their land titled, and ended up waiting a further 9 months for the land to title (when it was meant to be 3), I will say don't do it. It caused so many headaches for us and I think they would have been avoided if we signed after our land titled. I know that in Victoria, it is a breach of the Building Contracts Act for a builder to enter into a contract with a client if they don't do a soil test and have site costs. I am unsure where you live but you might want to get some legal advice about the implications of signing a contract before you have your land. My advice is just keep on saving rather than signing up now and paying fees for the land being delayed. Good luck! I agree with you. But in sydney land releases are being sold to priority people that missed out in previous releases and the cycle just repeats itself so by the time u purchase land Ull most likely pay an increase anyway. In my case I had no other choice cause I wanted that block... My solicitor who does a lot of land in oran park where I purchased looked at the site costs and provisional allowances and said everything looked ok Re: Signing building contract before Lands titled - HELP!!! 13May 14, 2014 11:12 am Jayjay84 I agree with you. But in sydney land releases are being sold to priority people that missed out in previous releases and the cycle just repeats itself so by the time u purchase land Ull most likely pay an increase anyway. In my case I had no other choice cause I wanted that block... My solicitor who does a lot of land in oran park where I purchased looked at the site costs and provisional allowances and said everything looked ok Yeah, it's a tough market. 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