Back in February when we signed the contract on our new house, a 3 month settlement was decided on by both parties. We were told that 3 months would be heaps of time to finish the construction and we could walk into a brand-spanking new home with nothing more to do. That settlement date was May 26. For the observant ones amongst you, you will note that today is May 26. We should not have gone to work today. Instead we should have handed over the money and collect the keys to our new place. Alas, it was not to be.
After a few set-backs in the construction (namely, ripping down the walls) the settlement date has been pushed back indefinitely.
I was talking to our solicitor on the phone today, to see if she had heard anything from the vendor’s solicitor. “No”, was her simple answer. We still don’t know if the subdivision has gone through, we haven’t seen their Land and Building Stat Dec., we don’t know when they’re planning on lodging the other necessary paperwork, we don’t know the Body Corporate and insurance details. Needless to say, there is still plenty of work for the other party to do (including the completion of the actual house building stuff!)
On top of all that, we are quickly approaching the borrowing deadline that was set by the bank when they approved our loan. If that lapses, we will need to go through the whole application process again (including paying a new application fee).
I think there’s somthing to be said for buying a house that isn’t under construction. Don’t get me wrong, I can’t wait to move in, and it has been fun chosing all the bits and pieces, but it’s the waiting that’s getting hard. It doesn’t help when every time you ask the builders when everything will be finished, they answer with “3 weeks is looking good!”
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