House & Land

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ozsparky200319117
Member
@ozsparky200319117
Join Date: 2003
Post Count: 65
August 9, 2005 - 11:32 am
Hi there
Can anyone advise whether having settled on land it is possible to pull out of the house part of a house & land package?
sparky
Mortgage Hunter
Participant
@mortgage-hunter
Join Date: 2003
Post Count: 3,781
August 9, 2005 - 11:39 am
That is an impossible question to answer given no info.
It is all dependant on the contract you have signed. I suggest you speak to your solicitor and ask him what avenue you have to pull out.
All the best,
Simon Macks
Residential and Commercial Finance Broker
[email protected]
0425 228 985
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
GPSnetwork
Member
@gpsnetwork
Join Date: 2005
Post Count: 313
August 9, 2005 - 11:39 pm
I agree with Simon, it depends what you signed and what you havn’t..
Roy H.
L.R.E.A., Dip FS (FP)
Guardian Property Specialists (GPS)
http://www.gpsnetwork.com.au
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
August 10, 2005 - 12:08 am
Check the Covenants on the land to ensure that the buyer is not required to construct a dwelling within a certain time frame.
Also you may have to submit the plans to the Vendor to get him to approve the style of home being constructed to ensure it is in keeping with the estate.
However i think you will find that the sell a ve covenants dictating to whom you can build with would be seen as unfair contract.
As the guy suggested get your lawyer to look over the Contract.
Cheers Richard
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