A guide to building your new IBN home and what you can expect from us

A guide to building your new IBN home and what you can expect from us

1. By now you have taken the first step to building your new home – signed what’s commonly called a “Preliminary Building Agreement,” “Tender” or “Quotation Offer of Acceptance” and paid an initial deposit, to allow us to thoroughly investigate your site and prepare your Contract Documents.  The Contract documents include a Uniform Housing Contract, specifications and house plans.

2. At this stage, you will need to provide us with details of your land including a copy of your title and a copy of your land contract containing a plan of subdivision.  These documents can be obtained from your Solicitor or Lending Authority, that is, if you do not already have a copy.

3. While we prepare your Contract Documents, we ask that you prepare to choose your décor, such as bricks, roof tiles, colours of fittings etc.  We will need to finalise all your colour selections before we start building.

4. Before we finalise your Contract Documents, you will receive a “Preliminary Plan” from us for your perusal.  You may still make minor changes to it at this stage.  We also ask that you check your copy of the Preliminary Building Agreement (see item 1) to ensure that any special requests you may have asked for have been addressed.

5. Once you are satisfied with your Preliminary Plan, final drawings will then be completed by your Builder and Contract Documentation will be finalised.

6.         The next step is to actually sign the Contract Documents.  Your Builder will provide two copies for signing and you will be given one full copy for your use.  At this stage we require the balance of the 5% deposit on contract price.  Please note you will need to provide your lendingauthority with a copy of these documents before your loan is formally granted.

7. We will require the following documents from you before starting your Dream Home.

 a. Proof of land ownership in the form of a Certificate of Title bearing your name/s. OR

 b. In the instance where land has only recently settled and the Certificate of Title in your name is not yet available, we will require the Certificate of Title with a letter from your conveyancer/solicitor confirming that settlement has taken place, the date, the dealing number and a copy of the Contract of Sale for land.

 c. A fully signed copy of your Loan Approval Documentation, please note that an Offer of Finance is not suitable, in the case of a lendingauthority. OR

 d. In the case of your own funding (cash), the special conditions in the back of your contract must be met, and a statement from either a Solicitor, a Stat Dec or a Bank Letter all stating that “funds are available for the purpose of constructing a new home as detailed in the building agreement between yourself and the builder.

 8. If Town Planning Permits are required for your dwelling, your Builder will need details of them.  Make sure you apply for these as early as practicable as these can hold up your Building Permit if not applied for early enough.  Your Builder will look after your Building Permits for you.