Hi,
I am planning to get a H&L package at Gregory Hills from Eden Brae. I have deposited $2K booking fee but have not signed the contract yet.
The Land is suppose to be registered by June ' 2017 and the housebuilding is suppose to start from Aug'17 and completed in Feb'18.
After paying the $2K deposit we had to sign few papers. One of the condition was if the land is not registered by Aug'17 Eden Brae will charge us $750 per month until the registration takes place. They say this is to cover for the rising cost of building materials as they don't pass on additional costs to customer like other builders.
The sales person explained this is a standard clause from Eden Brae for all their projects and not only for Gregory Hills. He said the estate has been running for 6 - 7 years and they don't foresee any delay.
Did anyone had any H&L deals with Eden Brae? Is this clause standard?
I understand Eden Brae is a reputable builder but I am not sure if I should go ahead. Please advise.
Regards