Browse Forums Building A New House Re: Worst Case Scenario after initial deposit- FairHaven Hom 11Feb 12, 2019 10:53 am For anyone looking at this for information these are the standard terms with any builder. I began the same process with another builder and left before tender and lost my initial deposit until i fought it. I was given it back due the house i wanted not fitting on the block like the sales consultant had said it would so their error not mine. I also have built with fairhaven and paid my deposit under similar circumstances above and Fairhaven honoured their word and did not charge the build price increase the day after i paid my deposit. As to when i come to title dates, you need to evaluate the price increase in the build cost and the price holding fee together. I personally found that paying the holding fee for going 4 months over time before site start was thousands of dollars less than the holding fee i paid. Land deposit 14 Nov 2015 House deposit 4/9/16 Land title 15/5/17 Quote signed off 28/1/17 Colour selection 21/2/17 Tender appointment 28/3/17 Developer Building approval ??? Site start 11 July 2017 We are looking to do a KDR with fairhaven homes, Have seen plenty of good reviews about them pre construction and plenty of negative reviews about them during contruction… 0 18093 In NSW the maximum deposit for building work is 5% until the builder provides HBCF insurance 1 4882 We were lucky in that our old house was so small (86 square metres) compared to the new house, they were able to take enough readings around the old backyard house before… 8 37441 |