Conclude a construction contract under reservation?

Although I have only talked to 2 companies so far to get the contract, it was simply handed over without any fuss. Everything else is also not acceptable and would immediately disqualify the provider. IMHO

Thank you very much for your answers!

...I will then carefully read the withdrawal agreement in the contract, but for that I need to get the contract in front of me again because when I wanted to first calmly read the contract at home before signing, the developer did not want to give me the documents

And are you sure you are with the right partner? You are supposed to sign something you are not allowed to review calmly? How high are the costs if you want to get out of the preliminary contract again? What does the advisor have to hide? An outrage!

In my opinion, this approach unsettles customers and makes them back out again. We have really spoken with some well-known companies, but unfortunately this procedure seems to be common.

Regards

Dean

If I understood correctly, Dean does not even have a subsidized project via the annoying 153 program in mind.

For every institution I present financing to, whether via a financing platform or directly, it is very important what kind of property is to serve as collateral for €150,000 or more. So more and more banks want documents that allow an appraisal of the property. After all, this then results in the loan-to-value ratio. Sorry, but I believe that with sums like this, more rather than less care is warranted. That means it must be clear what, how, and where is being built. For this, a calculation of the living space and a site plan are definitely necessary. The floor plans should not be a problem either. If you also have a construction description, the VALUE of the collateral can be determined quite solidly.

Best regards
JoS
Advice – but fair!
ps. By the way, many so-called independents are not so independent after all, and are they the best for the customer because of their "independence"? The best for the customer is probably the one who does not do every financing deal at any price, who also thinks about the time after the fixed interest period expires and tailors their secure offer to the customer.

And you are sure you are with the right partner You are supposed to sign something you are not allowed to review calmly? How high are the costs if you want to get out of the preliminary contract again? What does the consultant have to hide? An outrage!

... slowly I am not so sure anymore. Allegedly, no costs would be incurred if I terminate the contract, but I would like to see that in black and white, because when the developer "skimmed" through the contract with me, I didn’t see anything about it.

With the previous developer, this preliminary contract thing and not being given the contract to read through calmly was the decisive reason why I backed out.

It would be too good if everything went smoothly...

Regards

Dean

Hello Jos,

ps. By the way, many so-called independents are not really independent, and whether they are the best for the customer because of their "independence"? The best for the customer is probably the one who does not do every financing at any price, who also thinks about the time after the fixed interest period expires and tailors his secure offer to the customer.

That is why I wrote "institute-independent," the factor "human" of course also plays a crucial role, which every builder has to grasp with their gut feeling.

The independents I work with are distinguished by the fact that they provide their clients with unvarnished facts; not infrequently they advise against the project. Unfortunately, on the other side there are the "regional distributors of well-known insurance/financial companies," who are waiting impatiently: a "competent, selflessly acting financial juggler" can always be found, and usually I can set my watch by it – our industry is often like a cozy living room and news spreads quickly – until the first forecast of my financier hits hard in full force.

Kind regards

Hello Dean,

... with the previous developer, there was this preliminary contract thing and not giving the contract to review it calmly, the decisive point why I backed out.

You should stick to this course; no one claimed that choosing the right "construction" partner would be easy – after all, it isn’t in the private sector either. However, with the above approach, you still save yourself a lot of stress and certainly also money.

Kind regards