Thursday, September 17, 2009

Happening Now

Our solicitor has been given the mortgage documents for the construction loan extension.

We are now just waiting on the contract from the builder after providing the variations to them earlier this week. They called today to say we should expect it either tomorrow or this Monday.

Once we receive the building contract, we will hand this also to our solicitor. He will advise us on the terms of both documents prior to signing our agreement and then return the appropriate paperwork back to the lender and builder.

After the contract is counter-signed by the builder and the 5% deposit (minus the initial $3,000 commencement fee) is paid, we will provide a copy of this contract(showing a date prior to 30th September 2009) to our lender to submit with the First Home Owners Grant application they already received from us and stored on file.

We will then arrange a meeting with the builder to go through the working drawings and make any final variations to be signed off prior to submitting these to The Ponds Design Panel and Blacktown Council for DA approval. The expected timeframe on completion of this process and a DA approval provided is at the end of November.

We are not expecting the build to happen before this Christmas. I think the builders take the Christmas period off, so it will probably be mid-January 2010 we will see any activity. The estimated timeframe for entire completion (weather permitting) is around September/October 2010.

So, heads up everybody, we will be holding a Christmas 2010 House Warming at our place.


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