Browse Forums Building A New House 1 Mar 13, 2009 6:14 pm Just wanted to ask how do banks conduct their valuation before settlement of a newly constructed home. They have done the valuation before construction started and we've signed the home loan documents based on that.
Now that the house is almost finished, they need to conduct another valuation before releasing the final cheque for settlement. Will there be a difference between the original valuation before and after construction? Are there cases where the valuation after house completion is lower than that before building started? Thanks for your replies. Re: Valuation after House Construction 2Mar 13, 2009 8:03 pm I have spoken to the evaluator at my bank, he said that for the final, all they are looking at is that the house is completed according to contract. Even if you house is worth more than what it cost to build, the value given will not be any more than the price paid for the Land and Contract. Depends what you're current inclusions are, but we're not including wardrobes and will just use second hand ones until we can save later on to get them built. Also have a… 3 11547 I can help you with all that, you can PM me with details if you wish 3 5813 there is a few calculators you can use if you just google it 7 7478 |