Hi all! PLEASE EXPLAIN: What are "builders terms" that blocks are purchased and developed using.
I believe it is fairly common for developers to offer "builders terms" on blocks to builders (what about to general public??).
I believe the offer includes extended settlement terms. One builder i have seen advertise "no progress payments during construction" as well. So, what's to say someone couldnt: 1) Purchase a block on long term settlement, then
build on "no progress payments down" ?? I would see this as a "no payment during the whole process" deal.
Am missing something???
The qu I do have is this: If you got a block on long term settlement, how can you get approvals and/ or do the construction works, if the title hasnt been put in your name yet?? A friend said maybe there is a legal document that says the vendor can give legal right to a "non-owner" to apply for permits,etc and to build.
I would REALLY appreciate clarification on this please anyone?hi misty1,
developers aren't really offering builders term s too much at the moment even to builders, as land is getting snapped up
by end users very quickly (in SEQ anyway)… and they can get their settlement in 30 days… '
builders terms' generally allow builders to proceed with developing the land without the initial
full expense of purchasing the land, merely a per centage deposit… you are right also as you will
have a great deal of trouble achieving finance to build on a lot that is not in your name.. as far as i know you will not get 'builders terms as a member of the general public…. sorry
M
build on "no progress payments down" ?? I would see this as a "no payment during the whole process" deal.
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