Browse Forums General Discussion Re: construction loan - under valuation possibilities 2Jun 22, 2013 7:30 pm Build start April 2013 - Handover End July 2013. We are in love <3 - viewtopic.php?f=31&t=64062&p=1002912#p1002912 Re: construction loan - under valuation possibilities 3Jun 22, 2013 7:48 pm Building McDonald Jones Bronte Manor One Contracts Signed Dec 12 DA Lodged Jan 13 DA Consent w/BAL40 Apr 13. S96 Consent w/BAL19 May 13. Slab Complete Jun 13. Frame Brick & Roof Complete Aug 13. Re: construction loan - under valuation possibilities 5Jun 23, 2013 5:38 am scotty78 Banks want to loan you money so they usually will try and approve quickly. Don't feel too pressured into signing quickly as it is imporatnt you are 100 per cent comfortable with everything. It's a big investment. Note most builders ( and most sales folk generally) will try and create some sort of deadline to ensure you sign/ buy now. More often than not u can get the same price or similar later on. if not shop around. Ps with misc quotes I have found in the past sometimes difficult to get loan cash for that as it is not part of construction but considered 'impovement'. Yeh right. Anyway I've tended to have those items as a provional in the contact so you have them costed into your loan but allow you to remove them from the builder later on to soured independent quotes (usually cheaper). Hi Scotty, I think I should have been more clear before , when I said sighning I meant we are at contract stage and we finished sales stage. We already paid about 3K as deposit to the builder already and pretty close to prestart. The problem partly is because the builder seems to think that I will not go anywhere now that we are this far in the process.We feel like we are being taken for granted now, with all those responses lately, may be everyone else is also like that! He is not even able to adjust few appointments to save me from this stress. The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.… 2 19096 Hi, you've probably already resolved this, however, Commbank will probably pay the funds to you after you send evidence the work is done regardless the change in the quotes. 1 35321 How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 11915 |