Hello
Can i buy Unregistered land( registering in late Jan or early Feb) I have a conditional approval and if i sign the land contract, Will the bank approve the loan before registration ?
Browse Forums General Discussion Re: Bank validation on unregistered land 2Feb 23, 2021 6:39 pm Hi, Did you find any info in the last few months? I am considering an unregistered lot and I am collecting few info. As far as I understood, unregistered land is a bit more tricky, I am not sure if you are referring to a pre-approval (conditional approval) but pre-approval does not mean that the bank will finally approve the loan on an unregistered land. There are some conditions, such as, lot value and final price, which may interfere with bank approval. Cheers! Re: Bank validation on unregistered land 4Feb 27, 2021 9:19 am icat2000 If the land is unregistered then you don't own it so what would the bank secure the mortagage against? When we brought our first block of land back in 2017 and it hadnt registered yet (it did so about a month later). We paid the deposit on the land out of our own funds and the bank paid the balance once the land was titled. We made the contract of the balance to be paid 30 days after land is titled. How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 9178 Hi, This is my first post. We are planning to buy new home via House and Land (H&L) Package around Boxhill/Gables/Marsden Park in Syndey. Googled reviews for most of… 0 10523 Very good points. Thanks so much ponzutwo for your advice. Appreciate it. 2 10411 |