Once again thank you all for your help. As per my solicitor advice agent include special condition, that is owner's have to get permit for pool within 4 weeks. Otherwise I can terminate the contract. 

I told agent if owner not agrees I will terminate the contract. but agent not take it as serious. I went to agent office with termination letter. Once again agent trying to convince me and explaining I will loose the deposit ect..ect.. After I give to him termination of contract he make so many calls and i saw panic in his face.

Finally I able to put what ever wording my solicitor wants to put in the contract.

Thanks Terryw.

I belief this applicable to Victoria as well as per advice received by person who went through similar situation.

Thanks Terryw,

There is concern, If i cancel the contract, is it I am loosing deposit money of $500? My initial understanding, during the cooling- off period cancel agent needs to return money.

But when check the REIV( Real Estate Institute of Victoria) its state "your are entitle to refund all the money paid EXCEPT $100 or 0.2% of purchase price"

Can you please able to clarify?

Thanks Shape,

If I explain little bit more my first question

a)      During the construction period I have to pay part payment only (eg; once foundation complete, first floor complete, roof complete & Balance ect). This process take around 9 months as per my discussion.  I am wondering how & when repayments have to start. Ie after house ready to occupy?

c)      Any legal issue I have to face, due to apply investment property and occupy myself and apply for FHOG!!

If I declare as FHOG at beginning of application, approved amount is around 300K (for my income 63k) but I needs another 55K (total expecting amount is 355K).

And thank you very much for enlighten me about OSR and Bank how closely work. This may be answer to “(c) “?

Thank you very much

Thank u for all for clear explanations!!