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Building IP, any advice?

Discussion in 'Real Estate' started by Bluegum, 15th Sep, 2007.

  1. Bluegum

    Bluegum Member

    Joined:
    19th Jun, 2006
    Posts:
    7
    Location:
    Albany
    After due diligence i have chosen a builder and 4x2 house plan for my 3rd investment property in W.A.. This is a totally new experience for me. Can anyone give me some advice before i sign any contracts with the builder. Are there any clauses i should be wary of or have included?. Is there a governing body or association that can check contracts?.
     
  2. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Hi Bluegum and welcome to the forum :)

    I have an investor pal in Albany who is also doing a subdivision and is having a lot of trouble sourcing tradesmen right now- seems there's a real shortage due to the current booming activity in town.

    I'd be recommending you get a solicitor or conveyancer who's familiar with these type of contracts to have a look before you sign anything. Seeking independent legal advice is always a good idea if you're not sure. Also check out the Dept of Consumer and Employer Protection site as you may pick up some useful information:

    See here: DOCEP - CP/DEV_CONSUMERS/SSI/PROPERTY/BUILDING/BUILD_HOME/BEFORE_SIGNING

    Best of luck with it all :)