FHOG Doubled and Tripled

[Alex P Keaton]

Had an interesting chat with my mb tonight he came over to witness my settlement documents. He said that for someone who has all the documents ready to go and if settlement is occuring in more than a few weeks time, what people could do is write up new contracts if the vendor agrees. The banks have all the info, the purchaser is uncondtional, what would happen is, it would just delay settlement by a week or two. So if you are settling in 4 weeks or more time, you may be able to have your contracts re-written. Its worth finding out.

In my case though I doubt the vendor will agree to this, because she wants a fast settlement, and if I signed for new contracts now it would delay settlement by 1-2 weeks. She wants to be with her boyfriend who is overseas. And fair enough, im not expecting it.

 

[Ausprop]

did the MB mention the bit about defrauding the government and illegalities?

as is usual in these situations, contracts written up now will be doubly srcutinised

 

[RumpledElf]

I think you'll find a lot of FHBs who are currently under contract will get variances.

Again with the baby bonus, there was a (quite significant) shift in dates of elective caesars to be just after the bonus went up instead of just before. If you can change something by such a small amount and get lots more money, people will do it.

 

[tiger]

I think you'll find a lot of FHBs who are currently under contract will get variances.

What do you mean by that? I've been given pretty straight "no's" by both MB and solicitor regarding this but I haven't given up on the matter yet.

edit: Just got told by bank that contracts signed before Oct 14th are not eligible for the increase. grrrrrrr

 

[Alex P Keaton]

did the MB mention the bit about defrauding the government and illegalities?

as is usual in these situations, contracts written up now will be doubly srcutinised

I knew it wouldnt happen. Wasnt expecting it to. Its cool

 

[Lamingtons]

Sighhhhh...

This was said in another forum. One person is looking forward to getting the $21k where she will get the Chanel bag. These bags are $3500-5000!

 

[lizzie]

the bit i don't understand about the tripling of the grant for "new" houses is that it is supposed to encourge building stimulation.

but when it can take months and months (sometimes years for the big boys) to get a da thru many councils - and then another year or so to build - unless the fhb signs up for presales, there is no point. unless they are buying something that is coming online now the timeframe is just to short.

 

[Alex P Keaton]

did the MB mention the bit about defrauding the government and illegalities?

as is usual in these situations, contracts written up now will be doubly srcutinised

The Real estate agent told me a $20,000 fine has been enforced

 

[tess85]

This contradicts the advice being issued by OSR. This sounds like units/townhouses wouldnt be included given a buyer wouldnt in effect be entering into a building contract but rather a contract to purchase.

The situation is a little murky... I was particularly confused today when I was searching realestate.com.au for Newtown (Sydney, NSW) properties and up came one that was in Wentworthville (which was sneaky enough). Now, the ad for this Wentworthville duplex says it's a new build therefore first-home buyers get the 21k. Is this true? I thought you had to build your own home?

I've read through this thread, the OSR website and the email Kim5 got from Tanya Plibersek - but it's still confuzzling!

 

[tess85]

^^ ok - I've made an appt to see some new townhouses (hope we get the 21k!) The agent assured me this would be the case, but of course he would, LOL. The NSW OSR website seems to indicate that you get it for a newly-constructed place.

 

[tcocaro]

I have spoken to the HIA and they have confirmed that yes it attracts 21k for all new UNITS and TOWNHOUSES.

I also emailed Tanya Plibersek who also confirmed this.

So its now 100%

the only items you must remember, construction needs to commence within 6 months of signing the contract and must be completed within 18 months.

I would assume there is some flexibility on the 18 months (do your own checks) but it would make sense the intent of this requirement is to avoid sneaky people simply digging a hole (i.e. commencing construction) then doing nothing after that. If the govt can see your 99% complete I am pretty sure they will extend.

To repeat UNITS & TOWNHOUSES included.

Hope this helps..

The situation is a little murky... I was particularly confused today when I was searching realestate.com.au for Newtown (Sydney, NSW) properties and up came one that was in Wentworthville (which was sneaky enough). Now, the ad for this Wentworthville duplex says it's a new build therefore first-home buyers get the 21k. Is this true? I thought you had to build your own home?

I've read through this thread, the OSR website and the email Kim5 got from Tanya Plibersek - but it's still confuzzling!

 

[tcocaro]

theres conditions, must start within 6 months of signing and finish within 18 months...

And yes.. this is even making the "big boys" move.

I personally think its a very well structured package, it is designed to move stock rather than have us developers artificially increase the price the time limit assures this.

I have had countless calls on my development for pre-sales, I will start advertising within two weeks for franklin residences - I aint no big boy but nevertheless its moved me into bringing things forward.

Cheers.

the bit i don't understand about the tripling of the grant for "new" houses is that it is supposed to encourge building stimulation.

but when it can take months and months (sometimes years for the big boys) to get a da thru many councils - and then another year or so to build - unless the fhb signs up for presales, there is no point. unless they are buying something that is coming online now the timeframe is just to short.

 

[tess85]

theres conditions, must start within 6 months of signing and finish within 18 months...

thanks tcocaro. It's all so confusing but you've straightened things out a bit. As for the places I have been looking at: they are built already - and the agent is advertising them as "get the 21k grant". They wouldn't qualify according to your conditions though, right?

 

[tcocaro]

yes they will..

anything NEW is included (never lived in before) so long as the newly finished property goes under contract before June 30, 2009.

I am talking about off-the-plan sales.

thanks tcocaro. It's all so confusing but you've straightened things out a bit. As for the places I have been looking at: they are built already - and the agent is advertising them as "get the 21k grant". They wouldn't qualify according to your conditions though, right?

 

[tess85]

Thanks I think I found the relevant paragraph in Tanya's email
"• For a newly established house, the FHOS (and FHOB) is paid (in a lump sum) to the first home buyer upon completion, that is, when a certificate of occupancy is provided."