Could anyone put me in the right direction to read more about the "Builders Terms". when purchasing land or has anyone else purchased land this way? We are looking at building the house then selling once its completed.
Hi Brittany, Builders Terms are literally just that; special terms that you would provide to a builder. Most commonly, you would see the vendor allowing a low deposit, and the builder to delay settlement until the construction is complete, and the property has been on sold. You could pretty much negotiate whatever you want, such as: -deferred settlements -option to purchase (rather than contract of sale) -low deposit -lease back arrangements (such as display homes) -joint venture arrangements Regards, Angad Singh
Take care with intentions to build and quickly sell. No cgt exemption and possibly normal income tax and maybe gst issues. Property is not tax free when you aim to profit
