Browse Forums Building A New House 1 Dec 08, 2009 12:43 pm Did anyone here do their final payment from their own money? I ask because I will be using my FHOG to make my final payment. I checked with my bank and they said it's up to me to do the payment myself but they will do a valuation for my own benefit. I am wondering if it is possible to do the final payment without the bank doing a valuation. I am not sure of the reason why they do the valuations, but I am just worried it may hold up my settlement. Current build Porter Davis Brookwater 49, Eucalypt Wollert Build: 24th Jul 2015 - Approx Mar 2016 Previous build DFH Columbia 21, Lyndarum Epping North Build:20th Jul 2009 - 18th Dec 2009 Re: Question re Final Payment and bank valuations 2Dec 08, 2009 12:50 pm All they pretty much do is drop past to make sure that their money has been used to build a house. 'A bottle of wine contains more philosophy than all the books in the world.' Louis Pasteur Vegie garden: viewtopic.php?f=19&t=27637&start=0 My Backyard Adventure Re: Question re Final Payment and bank valuations 3Dec 08, 2009 2:08 pm lisanne All they pretty much do is drop past to make sure that their money has been used to build a house. EXACTLY! No biggy. Building Thread viewtopic.php?f=31&t=13002 Site start: 8th July 2009 Handover: 11/12/2009! 5 months total build time. 40 sqs of luxuary...Bliss! Re: Question re Final Payment and bank valuations 4Dec 09, 2009 7:29 am oh ok. For me, I am more concerned about it holding up my handover. If they wont let me do the bank cheque until I have had their val done since they said it takes 48 hours to get someone out to do it. I have asked the bank manager if it is necessary in my case. Current build Porter Davis Brookwater 49, Eucalypt Wollert Build: 24th Jul 2015 - Approx Mar 2016 Previous build DFH Columbia 21, Lyndarum Epping North Build:20th Jul 2009 - 18th Dec 2009 Re: Question re Final Payment and bank valuations 5Dec 09, 2009 7:47 am When the valuation was done at my place for handover, the actual Valuation guy called up my SS to arrange a time to go through the house. Photo's were taken also - Would love to get my hands on the Valuation report I wonder if I could ask the bank for it. anyways, The valuation was done on a Friday morning, and the cheque relased for the last payment on Monday afternoon. The bank also needed the Certificate of Occupancy prior to booking in a time for the valuation. Re: Question re Final Payment and bank valuations 6Dec 09, 2009 10:09 am just not sure how it will be for me - my bank manager isn't replying to my email. I think I will call her. She has already told me I am looking after the bank cheque myself and don't need to involve them. My mortgage was fully drawn as of the fixing stage progress payment. Current build Porter Davis Brookwater 49, Eucalypt Wollert Build: 24th Jul 2015 - Approx Mar 2016 Previous build DFH Columbia 21, Lyndarum Epping North Build:20th Jul 2009 - 18th Dec 2009 regardless, your contract stipulates a payments schedule and SOPA doesn't give provision to that scenario. Your contractual terms appear to stand. Hence get a lawyer, it… 4 11869 How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 11932 There is no reason why building contract reconciliation cannot be done prior to handover, if the builder won't do it get someone to do it for you. Why would you pay for… 3 6689 |