Procedure of Purchase

There are four key stages within the procedure of purchase:

Stage 1. Fixed price tender

  • Client pays a non refundable $750 initial deposit (vacant block) to secure the current pricing and promotion ($1,000 for knockdown and rebuild).
  • Eden Brae Homes arranges for a soil test, survey and contours plan.
  • A fixed price tender is prepared for presentation at Eden Brae’s head office (business hours Monday – Friday).

Client requirements:

  • Clear copy of subdivision plan or linen plan if land is unregistered.
  • List of standard variations and display options. (Structural variations may delay tender preparation time and site start allocation date).
  • Indicative/preferred siting of house on land.

Note:

  • Clients have sought financial advice and are aware of their borrowing capacity.
  • Sale of an existing property is not required in order to proceed with contract signing, payment of 5% deposit and construction.
  • Deposit non refundable.

Tender presentation and acceptance

  • Client accepts tender and pays further non refundable $2,500 deposit to prepare working drawings.

Client requirements:

  • Tender appointment must be attended at the designated time/date and accepted within 7 days to maintain site start date and pre site fixed pricing.

Note:

  • No further structural changes to be made after contract signing.
  • Upon tender acceptance, sample HIA building agreement will be provided for review.

Stage 2. Building agreement

  • Working drawings and building agreement are prepared.
  • Client signs building agreement at Eden Brae’s Head Office and pays 5% deposit of the contract price (less previously paid deposits).

Client requirements:

  • Contract appointment must be attended at the designated time/date and accepted within 7 days to maintain site start date and pre site fixed pricing.
  • Letter of finance offer.
  • Proof of land ownership.
  • Progress on land registration (if unregistered).
  • Letter of consent to lodge plans from the current land owner (if not yet settled).

Note:

  • Contract terms and conditions cannot be varied.
  • Some estates and councils may require completion of external colours, landscaping plan and hydraulic designs prior to lodgement of D.A.

Stage 3. Approvals

  • BASIX approval.
  • Developer approval (if applicable).
  • Eden Brae Homes to lodge plans with council.
  • Water board approval completed.
  • Building approval received.

Client requirements:

  • Signed mortgage documents or owners capacity to pay.
  • Proof of ownership of land.

Home Option Gallery:

  • Colour selections, electrical and kitchen upgrades are to be finalised at the Home Option Gallery during business hours – following contract signing.

Note:

  • Basix approval is subject to house type and orientation.
  • Approval times will vary depending on the estate, developer and the relevant council.
  • All applications are strictly subject to council approval and allocated site start date maybe affected.

Stage 4. Site Start

  • Final construction and engineering drawings completed.
  • Finance authority to commence construction received from clients’ finance provider.
  • Order materials.
  • Commence construction.

Progress Payments:

  1. 5% deposit (less previously paid deposits)
  2. Slab – 20%
  3. Frame – 25%
  4. Brickwork – 20%
  5. Linings commencement – 20%
  6. Completion – 10%

Note:

  • In the absence of bank finance, cash clients need to meet conditions of building agreement.