ᐅ Supplementary Agreement to the ScanHaus Construction Contract
Created on: 25 Sep 2019 12:47
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douska2019
Hello everyone,
we are planning to build a house with Scanhaus Marlow Marlow. We have now received the draft version of the construction contract.
Everything makes sense to us so far, except for the last page. It is titled: "Pledge Agreement as an Additional Agreement to the Construction Contract."
This concerns pledging our equity as a security to Scanhaus Marlow Marlow.
Does anyone have experience with this and, above all, can explain what this means? Looking forward to your feedback.
Douska2019
we are planning to build a house with Scanhaus Marlow Marlow. We have now received the draft version of the construction contract.
Everything makes sense to us so far, except for the last page. It is titled: "Pledge Agreement as an Additional Agreement to the Construction Contract."
This concerns pledging our equity as a security to Scanhaus Marlow Marlow.
Does anyone have experience with this and, above all, can explain what this means? Looking forward to your feedback.
Douska2019
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douska201925 Sep 2019 14:25danixf schrieb:
You didn’t declare your entire equity to the bank, right? What you hold back is your own business.Exactly... that’s why we don’t understand when Scanhaus Marlow wants to know about it.D
douska201925 Sep 2019 14:26Tina mit K schrieb:
We are currently building with Scanhaus Marlow Marlow, and I just reviewed our construction contract again. Are you sure it’s about the equity in your case? Our contract doesn’t mention anything like that, and the additional agreement is just the assignment declaration to Scanhaus Marlow Marlow regarding the house price. It has nothing to do with the equity. For us, it was the bank that "intervened" and required us to use the equity first before accessing the loan. Yes, it’s the last page in our contract. In addition to the assignment declaration... that’s exactly what we want to do. Use our equity first and then rely on the loan. It would simply be less than ideal to pledge the equity to Scanhaus Marlow Marlow.
douska2019 schrieb:
Yes, it’s the last page in our contract. In addition to the assignment declaration...
that’s what we want to do. Use our equity and then rely on the loan. It wouldn’t be ideal to pledge the equity to Scanhaus Marlow Marlow. We also built with Scanhaus Marlow Marlow and there’s no question of that for us either. It’s only about the assignment declaration for the bank, as already mentioned...
Tina mit K25 Sep 2019 14:32Hmm, it's unusual that there are different versions of this. Otherwise, just ask Scanhaus Marlow Marlow whether it is possible to bypass this and what happens if you don't sign it.
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douska201925 Sep 2019 14:32seat88 schrieb:
We also built with Scanhaus Marlow Marlow, and there has been no mention of that in our case. It only concerns, as mentioned before, the assignment agreement for the bank in our situation...That makes sense... were there any issues with the bank regarding that?Tina mit K25 Sep 2019 14:34There were no issues with the declaration at Ing-Diba. So far, the payouts have also gone smoothly.