Browse Forums Building A New House Re: 60%refund of deposit after HIA contract signed 3Apr 04, 2009 9:46 am A thankful person is a happy person. [/color]My hobby design blog: http://aviewondesign.blogspot.com/ Re: 60%refund of deposit after HIA contract signed 4Apr 04, 2009 9:54 am 2nd build here we come in Whittlesea! https://forum.homeone.com.au/viewtopic.php?f=31&t=92617 1st Build - Henley - Cooper in Doreen! (2009) https://forum.homeone.com.au/viewtopic.php?f=31&t=17354 Re: 60%refund of deposit after HIA contract signed 8Apr 04, 2009 10:23 am CiNnY according to your blog its showing they have started construction! If they have started then you are extremely lucky to get 60% back and even if they were close to starting i think you would be lucky still! Since you have signed contracts all drawing must have been done! hi CiNnY, the blog is another house which is going extremely smooth, e.g. all internall wall plaster gone up yesterday by a few Chinese plasterers ( i can see some Chinese writing on the wall) this one i am cancelling has not commenced construction yet as the land only titled this week. Re: 60%refund of deposit after HIA contract signed 9Apr 04, 2009 10:37 am I think 60% is fair, afterall, you were the one that pulled out of a contract. I think if you are buying a house, once you have signed and paid the deposit and you decide to pull out due to finances, you would loose the whole lot plus solicitor's fees. I would take the 60% and let it be a life experience. Good luck. Re: 60%refund of deposit after HIA contract signed 10Apr 04, 2009 10:42 am bradsjames It should give you an idea in your contract how much it would cost to end your contract. Seems like a long time since signing the contract to when the builder is about to start building. The HIA contracts are thorough so read them well. Hi bradsjames the only % shown in my HIA contract if contract ended is 25% to the cost of that work(P.7) either under clause 19.4 or 21.4. clause 21.4 (brief): if contract ended by Owner, the Builder is entitled to a reasonable price for work performed to the date this contrac is ended...blar blar blar.....the amount is being the 25% to the cost of that that. once again, HIA contract leans heaps toward builder side Re: 60%refund of deposit after HIA contract signed 11Apr 04, 2009 12:56 pm Damon CiNnY according to your blog its showing they have started construction! If they have started then you are extremely lucky to get 60% back and even if they were close to starting i think you would be lucky still! Since you have signed contracts all drawing must have been done! hi CiNnY, the blog is another house which is going extremely smooth, e.g. all internall wall plaster gone up yesterday by a few Chinese plasterers ( i can see some Chinese writing on the wall) this one i am cancelling has not commenced construction yet as the land only titled this week. Ahh fair enough.... that explains it, but i still think what your being offerred is a good deal! 2nd build here we come in Whittlesea! https://forum.homeone.com.au/viewtopic.php?f=31&t=92617 1st Build - Henley - Cooper in Doreen! (2009) https://forum.homeone.com.au/viewtopic.php?f=31&t=17354 Re: 60%refund of deposit after HIA contract signed 12Apr 04, 2009 4:58 pm I am sure the builder would have incured some costs over the past year since signing the contracts. Did the builder organise the permits and was that done within time specified. I guess the thing is, you would have kept the builder posted with financials and he should have or would have been aware that you were getting finance. look at clauses 10 and 34 there might be something there. The builder had 21 days to start. And if its finance did the builder take you for a ride by not including that in the contract.? Re: 60%refund of deposit after HIA contract signed 13Apr 04, 2009 7:17 pm sammy I think 60% is fair, afterall, you were the one that pulled out of a contract. I think if you are buying a house, once you have signed and paid the deposit and you decide to pull out due to finances, you would loose the whole lot plus solicitor's fees. I would take the 60% and let it be a life experience. Good luck. Agree! Take it and run! Building Thread viewtopic.php?f=31&t=13002 Site start: 8th July 2009 Handover: 11/12/2009! 5 months total build time. 40 sqs of luxuary...Bliss! Re: 60%refund of deposit after HIA contract signed 16Apr 06, 2009 11:32 am Hi Sorry to hear you project willnot go ahead. As it is your right to cancell your contract the builder has a right to fair payment for the work done so far. I guess you have to be comfortable with the fair part and what it is in dollar terms. All up I agree with most replies, 4k out of the 10k deposit. You went to contract, so some work has been done. To get an idea ring a few builders and ask them what the cost would be if you put out at that stage. I think most would be arount that I know mine is about 3,ooo. May I ask did you get a solicitor to go over the contract with you before signing it. I ask because I would like to know if these problems could be avoided buy pre legal advice. I hope all works out for ya. Regards KW........... “It's just as unpleasant to get more than you bargain for as to get less” George Bernard Shaw. Re: 60%refund of deposit after HIA contract signed 17Apr 06, 2009 12:57 pm King willy Hi Sorry to hear you project willnot go ahead. As it is your right to cancell your contract the builder has a right to fair payment for the work done so far. I guess you have to be comfortable with the fair part and what it is in dollar terms. All up I agree with most replies, 4k out of the 10k deposit. You went to contract, so some work has been done. To get an idea ring a few builders and ask them what the cost would be if you put out at that stage. I think most would be arount that I know mine is about 3,ooo. May I ask did you get a solicitor to go over the contract with you before signing it. I ask because I would like to know if these problems could be avoided buy pre legal advice. I hope all works out for ya. Regards KW........... Hi KW, i didn't get a sloicitor to go over the contract before signing. i know some poeple did get solicitor to look at the contract before signing and from my memory some were able to delete/alter some clauses in the contract Re: 60%refund of deposit after HIA contract signed 18Jan 06, 2012 6:52 pm i wanna end the building contract too. i signed the contract in sep2010. the land got titled in dec2011. the permit has passsed but construction hasnt started yet.now my circumstances have changed and want a bigger house. what are my options of ending a contract? what shud i say to the builder in writing? Re: 60%refund of deposit after HIA contract signed 19Feb 19, 2018 2:51 am Hi I have a similar problem. We signed a contract with a builder to build a house but our finance did not get approve. Our deposit was $15000 and we could not get the finance approved at all with several lenders. Now the builder wants us to pay more money to cancel the contract. but the builder has not anything to the house as we could not get finance. The plans soil reports were already done by us. You talk about deletions, are they variations or PS and PC adjustments? pleas list them 1 16568 10 12321 Unless there is something in special conditions the builder does not have to give you timeline. If your demolition contractor has not removed Asbestos and it was found… 12 28810 |