Builder Deposits – BEWARE
Did you know that most of the time any deposit you pay to a builder will be non-refundable.
This means upon signing a Preliminary agreement or a pre-contract document and handing over a deposit usually in the vicinity of $1500 – $2000 and you do not proceed with the home for whatever reason.
You will not get back this cash. If you engage Lendable first we will get you pre-approved with the bank before you engage the builder.
In a climate where bank lending is as tight as it has ever been why would you hand over this money prior to getting clarification of your financial position?
The Sales rep is looking for a commitment from you and the best one he can get is cash out of your pocket.
