valuation and full approval is another story. i'm a little worried about valuation, but have been assured that as long as you dont go nuts on upgrades and give quotes to the bank to create a full house - landscaping, window coverings, flooring (if doing after), then your valuation should come in fair.
we plan on getting a loan for the tender price and kitchen/electrical upgrades, and then saving to pay for landscaping and flooring in cash. hopefully the bank will let us do this.
Thanks Philamon.
We have added a few allowances in the tender and get a conditional loan from the bank. We are also concerned about the construction valuation. But people have been telling me, that it does not get undervalued, if everything you mention in the contract, is in the house.
We have started with Westpac. Just keen to know, if you went with Bankwest. Did they undervalue your land as well by 30K?
We are planning to apply with bankwest as well and see which bank gives us a competitive rate.