Blake and I received our contract for the land today and there were a few things our solicitor pointed out to us that we needed to check before continuing:
- The developer requires a 10% deposit on DA approval : We don't know when this will be, so have to have the money ready to go.
- We have to pay a percentage of land rates, water rates etc while the developers are developing the land.
- There may be a water trough dug somewhere on the property, allowing a 5% up or down change in our land size.
- Is the electricity being connected to each block or just to the street?
- Will the trees on the property be removed or will they be left for us to remove?
The other issue I picked up on was with our solicitor. She had applied us for the "home builders grant" not the "First home buyers " grant which means she almost cost us an extra $7000 in stamp duty!!! not happy with her for that mistake!
First home owners grants info here
She also didn't tell me when I originally rang that she wasn't including tax in her fees when I asked how much. She told me her fees would total $1900. That was before GST so its actually $2100 which isn't heaps but every cent helps at the moment and I wasn't too pleased.
All in all we are pretty happy and have signed off that it can all go ahead once the solicitor has checked out the few little bits and pieces.
This is our street. The left side is "Schofields farm estate" and the right side is where our block will be. Our block is up the top where the tall tree is on near the street light.
The man who owns the block is still living there so its just a waiting game to see how long until he moves out so they can knock down and start cutting up the land for us!
- The developer requires a 10% deposit on DA approval : We don't know when this will be, so have to have the money ready to go.
- We have to pay a percentage of land rates, water rates etc while the developers are developing the land.
- There may be a water trough dug somewhere on the property, allowing a 5% up or down change in our land size.
- Is the electricity being connected to each block or just to the street?
- Will the trees on the property be removed or will they be left for us to remove?
The other issue I picked up on was with our solicitor. She had applied us for the "home builders grant" not the "First home buyers " grant which means she almost cost us an extra $7000 in stamp duty!!! not happy with her for that mistake!
First home owners grants info here
She also didn't tell me when I originally rang that she wasn't including tax in her fees when I asked how much. She told me her fees would total $1900. That was before GST so its actually $2100 which isn't heaps but every cent helps at the moment and I wasn't too pleased.
All in all we are pretty happy and have signed off that it can all go ahead once the solicitor has checked out the few little bits and pieces.
This is our street. The left side is "Schofields farm estate" and the right side is where our block will be. Our block is up the top where the tall tree is on near the street light.
The man who owns the block is still living there so its just a waiting game to see how long until he moves out so they can knock down and start cutting up the land for us!