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  • Profile photo of Miss_ProulxMiss_Proulx
    Member
    @miss_proulx
    Join Date: 2009
    Post Count: 6
    February 14, 2010 - 5:44 am

    Im wondering if PEET do this, but for now I have given up and cancelled the hold on the property.
    The situation was complicated because we must initiate building on our own first block in the next
    few months, so that construction loan has to come before a loan for another block.

    Very disappointed, but will still investigate the arrangement you mention – perhaps one of the
    reputable builders in the area could purchase the block and build on it, and maybe offer it to me
    in the first instance when it is ready, before putting it on the open market.

    Thanks again Terry, if you can post privately to me to supply further contact details, that would be great.
    Regards
    Miss Proulxs

    Profile photo of Miss_ProulxMiss_Proulx
    Member
    @miss_proulx
    Join Date: 2009
    Post Count: 6
    February 12, 2010 - 2:08 am

    Hi JacM, yes it is on the open market but it has been held via a verbal agreement by the vendor, one of the known builders had it on hold a few times and financing fell through more than once – we lined up for our block in September (new release in a new estate) and since then I assumed all the blocks were gone, then this one appears and its the last one on the street. Yes I am planning a long settlement and putting down $1000, subject to 21 or 28 days finance…I dont know if they will accept that offer. Regarding 'Option Fee' could you please clarify what you mean, is that the deposit (like when you sign a lease agreement, they have an option fee that is non-refundable if you pull out?).

    Hi Terryw, yes I agree I need more time, the 'subject to financial approval' will give me another 21 or 28 days, I just wanted to be more prepared before the initial deposit this weekend.

    I dont know anything about vendor financing, I will check that out JacM, thank you so much for your advice, much appreciated.

    Miss Proulx

    Profile photo of Miss_ProulxMiss_Proulx
    Member
    @miss_proulx
    Join Date: 2009
    Post Count: 6
    February 11, 2010 - 10:54 am

    Well I hung myself a noose with that one, didnt I??? hee hee

    I really need the input of all the brilliant $$$$ brains that log on to this site
    and hopefully a response in the next few days….

    Probably will have to drop the whole thing, it's a great opportunity to keep
    the family together but too complicated and stressful….

    Anyone else with any helpful feedback out there????

    Miss Proulx

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