Hi,
Can someone please please tell me if I would still be granted the usual tax/duty savings of buying off the plan under the following situation:
We have currently bought a house off the plan, with a small deposit, the balance to be paid upon settlement-we wernt given the option of progressive draw. We were in the process of arranging our own building consultant/inspector when the builder told us he wouldnt allow any externall people on the site as he was the owner until settlement.
Now besides leaving a very bad taste in my mouth (can he even do this??) I am now starting to wonder if this arrangment (transfer of ownership) will affect the stamps savings of buying off the plan? any help appreciated!!!
Does anyone know anything about anything?? Or are we all as clueless as each other??
hi blogs
not sure if we are all clueless i’m not.
first did asolicitor look at the contract.
second he’s not the owner until settlement you have alean on the property to the extent of your deposit and your solicitor should be able to explain this to the builder.
third it depends on the contract of sale as to stamp dtuy and how you organised the purchase.
and fourth and last try to work with builders that are going to work with you this may leave a bad taste (but I am part of a building group and I’m the boss)and all builders are not the same.
once comeplete and if your solicitor has done his/her job it will be mark the rest to training (not sure if you can claim that check with your accountant I hope you have one)here to help
Thanks for the reply VERY VERY much appreciated!!! Yes a solicitor looked at the contract and didnt raise any concerns. This ownership/inspection thing just totally caught me off gaurd though-I never for a second thought I would have a problem getting a building inspector in to have a look, it makes me scared as to what the builder is trying to hide?? But then everyone I talk to says ‘dont upset the builder or you will be up for more greif'[angry2]
I suppose I should call my solictitor and clarifythe contract and take it from there?
Bloggs
Don’t worrie about an inspector until after you have finished because there is not much you can do until then anyway . You can give the report to the builder but weather he does anything or not , how are you going to argue the point until the job is finished anyway. The builders have good mouths they can tell you anything . I hired a builder to build 5 units , and the job was shocking . So then I got an inspector in volved and ended up geting conpansated from his insurance company . Remember they have to give you 7 year warranty.
Cheers Rick
Monopoly, my favourite game
Thanks Rick,
But my concern is what is he trying to hide? Surely if everything was above board any reasonable person wouldnt have a problem with an inspection. A lot can be hidden behind plaster-for example insulation (or lack thereof). The appartment is adjoined to two others, he quoted us over two grand to upgrade the insulation for a higher sound rating!!!! He obviously thought we were mugs, anyway long story short we got him to fix the quote (which was still way over priced) to something a little more realistic. But without an inspector how are we to know if he even puts in the insulation?? For all we know he could just be getting some easy cash….
Why do people have to be so dodgy???
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