Hi everyone! Long time reader, first time poster
My fiance and I have taken the plunge and have put an offer on a block of land in Forest Gums Estate, Weston. We have always loved Eden Brae homes and have been in contact with the Gillieston Heights sales reps there about a potential build.
Our offer has been accepted, and we have a really great broker and conveyancer. Yesterday we received our conditional approval (pending land valuation - which was done today!) so we are expecting to hear back by mid-next week
We do have a few questions which we were hoping some of you guys might be able to answer from your own experiences!
Eden Brae have let us know that their current promo + price list is going to be updated within 3 weeks. We really want to lock in the prices and promo now for only $750, but from then we are expected to come up with the 5% deposit for the build date within about 7-9 weeks. They have already indicated that they will not deliberately delay this time. We will need a construction loan to pay this deposit!
The land isn't due to register for 5 weeks, our finance for the land isn't unconditional, and we don't know how long it'll take for the land contracts to exchange. We are so worried that if we pay the $750, we'll run out of time for pay the 5%...
As first home buyers, we feel so confused and overwhelmed by all the info we just don't know about this process. It feels like the more we learn, the more we worry!
Can anybody shine light on this situation, or give an indication of how things work / how long they take?!