Understanding the process is most probably the more important part here, because with-out knowing what steps are next, you kinda feel a little bewildered at times.
Our Conveyancer has Shot out a letter to the Mcdonald Jones Legal team to begin the exchange of contracts for the Land, now I know the exchange can't happen till the draft Building contract is drawn up, which can take up too 2 weeks after our Colour Meeting on the 27th, So around 2nd week of April this can be done. As long as we don't make any other changes.........fingers crossed.
Another thing I learn't today is in regards to the Electrical meeting, which isn't done till the plans are lodged with council, so for me this kinda slows the loan process down with the bank. So now I need to add a variation amount to the building contract to help cover the Electrical cost - (Hmm how much) Anywhere from 5-10k variation.
This is all good, but I need to ensure I don't go over my budget, and also don't leave myself short of items I would really need/want before the approval is passed with the bank.
The next thing I learn't today, and I got to tell you I am very green around the gills with this whole process, is that we can't settle on the land, until it's registered. So best case is June this year for settlement on the land.
Once the land is Settled, Game on! Council and waiting....Ooooo yeah!
So my Big thing's coming up
- Sign and have Witnessed the First Home- New Home Exemption or Concession from Duty grant with conveyancer on the 19th and get this lodged.
- First Review of Plans 27th March with my CLO Suzzanne early morning
- Full colour meeting 27th with Lisa, this will take majority of the day, and is the cool part. (BUDGET)
- Draft Building contract around 7th - 11th April
- Bank valuation (O Jesus)
More updates as they come.
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