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:
- 5% deposit (less previously paid deposits)
- Slab – 20%
- Frame – 25%
- Brickwork – 20%
- Linings commencement – 20%
- Completion – 10%
Note:
- In the absence of bank finance, cash clients need to meet conditions of building agreement.