Browse Forums General Discussion Re: Can we terminate a building contract? 5Jun 30, 2012 10:13 am Lourance Standard HIA building contracts have a clause that they are not valid until finance approval has been met. All you need to cancel the contract is a letter from your bank stating that your application for finance has been denied.. Normaly the builder will keep the deposit. No need to lie. I think there are grounds for terminating the contract. Demolition August 2009, Construction Started September 2009, Completed December 2010 Re: Can we terminate a building contract? 6Jun 30, 2012 6:08 pm Casa2 Lourance Standard HIA building contracts have a clause that they are not valid until finance approval has been met. All you need to cancel the contract is a letter from your bank stating that your application for finance has been denied.. Normaly the builder will keep the deposit. No need to lie. I think there are grounds for terminating the contract. Its no lie .. the bank wont approve finance if they deem it a bad risk/investment. Re: Can we terminate a building contract? 7Mar 28, 2013 12:45 pm Hi Mr Pickles, It has been a while since you last posted. Did you manage to get out of your building contract successfully? My partner and I are facing the same situation as you were and we are wandering if there are further costs involved. Like you, we have not received a final contract with all our variations and changes. Difference is, we have loan approval and we have already signed the prelim contract. Although this is dated more than 3 months ago and is of an old plan. Would like to know if you encountered difficulties? Thanks in advance Re: Can we terminate a building contract? 8Apr 10, 2013 11:23 am Lets make it clear. If the cooling of period has passed, the builder will keep the deposit! Re: Can we terminate a building contract? 9May 29, 2013 8:10 am How can a builder lock you into a contract when you have not signed a set of contract plans? Having said that, in my opinion, no-one should comment on this without actually reading the contract documents. Contracts are serious matters and solicitors should be engaged. cheers Re: Can we terminate a building contract? 12Oct 01, 2020 8:44 pm Hello I m having the same problem . Could you please share if you we able to terminate the contract? Was there any cost involved? Thanks you in advance. Maya quote="PansLabyrinth"]Hi Mr Pickles, It has been a while since you last posted. Did you manage to get out of your building contract successfully? My partner and I are facing the same situation as you were and we are wandering if there are further costs involved. Like you, we have not received a final contract with all our variations and changes. Difference is, we have loan approval and we have already signed the prelim contract. Although this is dated more than 3 months ago and is of an old plan. Would like to know if you encountered difficulties? Thanks in advance[/quote] Sorry but you have a crap builder. Probably too late now. For our last build I only spoke to builders who would allow me easy access (at no cost). I used my own sparky… 10 9820 You talk about deletions, are they variations or PS and PC adjustments? pleas list them 1 16556 I've decided, after a period of confusion (my building broker told me it's probably not worth it to use a lawyer, but others have said it is a must) that I definitely will… 7 27953 |