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Divine house builders

Divine house builders

Old Feb 13th 2004, 10:55 am
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Default Divine house builders

Someone asked about Divine house builders ? was it PP?
I asked some fAussie riends in Victoria because they are building new...this is their reply ....its not all about divine but thought I'd post it for you anyway?!


"yes Helen they are here in Victoria too, and you did spell it right
too. Not sure of all the details, they say they also cover all the legals
too, but can't recall if it also covers the land, don't think I would
like a loan that high. I recall back in the late seventies and early
eighties they had schemes sort of like that, very low depoists on new
homes, Hampton Park which is 5 mins from me, people were walking out of the
homes, marriages broke up, could not afford them when interest rates
went up, not to mention if the wife had to give up work, the banks ending
up selling these homes so cheap just to try and get some of the money
back. I knew/know a few people who were in that situation, just my 2
cents worth here, you need to look with both eyes before going into such
a thing."
:lecture:
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Old Feb 13th 2004, 10:59 am
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Default Re: Divine house builders

Originally posted by helinuk
Someone asked about Divine house builders ? was it PP?
I asked some fAussie riends in Victoria because they are building new...this is their reply ....its not all about divine but thought I'd post it for you anyway?!


"yes Helen they are here in Victoria too, and you did spell it right
too. Not sure of all the details, they say they also cover all the legals
too, but can't recall if it also covers the land, don't think I would
like a loan that high. I recall back in the late seventies and early
eighties they had schemes sort of like that, very low depoists on new
homes, Hampton Park which is 5 mins from me, people were walking out of the
homes, marriages broke up, could not afford them when interest rates
went up, not to mention if the wife had to give up work, the banks ending
up selling these homes so cheap just to try and get some of the money
back. I knew/know a few people who were in that situation, just my 2
cents worth here, you need to look with both eyes before going into such
a thing."
:lecture:
Hel, yep, very much what I posted in Podgys thread about them (yes it was her btw). An awful lot of people got badly burnt.
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Old Feb 13th 2004, 11:07 am
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Default Re: Divine house builders

Originally posted by MrsDagboy
Hel, yep, very much what I posted in Podgys thread about them (yes it was her btw). An awful lot of people got badly burnt.
oh dear she'll hear it twice!
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Old Feb 13th 2004, 11:09 am
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Default

Hi Helinuk

thanx for posting that.

We have looked at it very carefully and still cant make our minds up whether to do it. We are in a very different situation to most people starting out on a new home. We are older and our kids are grown up, so wont have all the financial burdens that brings. We have also worked out that the full cost of it all can be done on Bills salary alone, without me even working. Which means there would be a good buffer for rate rises if and when i go back to work.

just gonna sit on it a while and think things over.
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Old Feb 13th 2004, 11:45 am
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Default Re: Divine house builders

Originally posted by helinuk
oh dear she'll hear it twice!
Hel, it never hurts to hear something like that from more than one source! Its the sort of thing that people really need to take notice of, far too many people have their head in the clouds & their fingers in their ears going "la la la la".

(Podgy, not talking about you personally just people in general not taking notice of negatives )
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Old Feb 13th 2004, 11:53 am
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Default

I dont mind hearing it at all!!..thats why i asked the original question.

So you reckon its best avoided?

heres the website for anyone who wants to check it out

http://www.devine.com.au/index.html
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Old Feb 13th 2004, 12:19 pm
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Default

Originally posted by podgypossum
I dont mind hearing it at all!!..thats why i asked the original question.

So you reckon its best avoided?

heres the website for anyone who wants to check it out

http://www.devine.com.au/index.html
No way that I'd do it, but different things suit different people & we arent in a position (& never have been) of having to do something like that. But your circumstances may be different (as you've already suggested that they are). My advice is to check it out very thoroughly & dont do it just because it seems like the easy way.
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Old Feb 13th 2004, 2:32 pm
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Default

Originally posted by podgypossum
I dont mind hearing it at all!!..thats why i asked the original question.

So you reckon its best avoided?

heres the website for anyone who wants to check it out

http://www.devine.com.au/index.html

Hi there PP
I have to confess not sure I would do it.

I do like the look of the houses at Point Cook though:-)) I have retired friends who are buiding there.

Let us know what you end up with
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Old Feb 13th 2004, 3:09 pm
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Hello all
Just want to add that it is prudent to be very careful with buying directly from the builder as the houses are at fixed prices - you need to make sure they accurately reflect the value of the property - or should I say resale value of the property.

Hel you mentioned about the banks doing reposession and selling at rock bottom prices just to claw some money back - this kind of thing is still happening. But what the builders can do is try and sneakily buy the property back from the bank asap so that the public doesn't see what the market value has dropped to, so that the builders can continue to sell at their over-inflated prices.

This is what happened at a company I worked for - we did a reposession on a brand new city apartment. When it came to us selling the property, market value was about $100k less than what the buyer had paid less than a year previously. We put it on the market at the lower price and the builders immediately tried to buy the property back in a very hush-hush manner (they put forward a buyer but some investigation revealed that the new buyer was actually from the builders and pretending to be an independant buyer)

Anyway, just wanted to make the point that it is worth doing a bit of research on brand new properties. Of course not all new proerties are necessairly over-priced, and I'm by no means implying that Devine are anything but well priced - just something to watch out for with any new build.

Good luck all with the buying
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