Home & Land Process
1. Select your New Home and Land Package
- Talk with our helpful sales team to select the best suited Home and Land Package to meet your requirements and budget.
2. Tailor your New Masterton Home
- Make those small changes to suit your needs for your new Masterton Home.
3. Secure your New Home and Land Package
- All you need is $1,000 as an initial holding fee.
- This takes the Home and Land Package 'Off the Market'
- Within 7 days of paying your initial holding fee:
- We will produce a New Home Proposal for you to review.
- This is a document that provides the inclusions and a fixed price for your new Home and Land Package.
- Within 9 days of reviewing your New Home Proposal:
- All you need to pay is an additional $2,500 and we will then commence the preparation of your building contract and other necessary documents.
- This is your final opportunity to make any changes. Any variations past this stage will incur a $2,000 variation fee.
- Within 35 days of paying your full deposit of $3,500:
- You will need to be available to attend a contract presentation/contract signing meeting at our Head Office.
- This is where you'll be signing your building plans.
- You will also be signing your building contract at this meeting along with paying the balance of 5% deposit of the build contract value.
- Within 2 days of paying 5% of the Build Contract:
- We will then "nominate" you as the purchaser of the lot to the Developer and you will receive a land contract shortly thereafter.
- You then sign the land contract and pay the Developer exchange deposit amount (up to 10% of the land price) within 14 days of receipt of the land contract.
- In the time between nomination and the land registering:
- You have the exciting time of selecting all your colours, fittings etc. as detailed in your building contract for your new Masterton Home.
- Within 2 months of the anticipated registration of the land you will be contacted regarding your colour selection appointment.
- We then wait until the land registers. . .
- When registered, this is where you settle the land with the Developer (the land price less the 10% land deposit already paid).
- Masterton will then start construction of your new home once the appropriate approvals are received.
- If you are not able to meet these time frames, you may lose the opportunity to proceed with the Home and Land Package or the price may increase