Browse Forums Building A New House 1 Mar 05, 2008 8:27 pm Hi everyone!
Geez, where do I start. The last week has been a tad stressful. Work has been totally bezerk, and my land was originally supposed to settle last Friday, however some nincompoop at the bank stuffed it up. The bank had originally agreed to take mortgage insurance and their fees out of the first home buyers grant, however 1 day before settlement they decided to take it all out at settlement, which left me scrambling to cover the balance. To say I was p'd at them for not advising me sooner was an understatement. I managed to get the additional money organized (without resorting to ringing Bank of Dad )and settlement is scheduled for this Friday. Taking into account what the builder told me a couple of weeks ago, I should hopefully have a site start at the end of this month as I've got developer's approval and don't need a planning permit (thanks for the link Colleen - you were right). Hopefully the last week will be my only stress for a little while Dana Dana -------------------------- Building with DFH - carpet installed! Re: Finally Getting Somewhere 2Mar 06, 2008 5:12 am If you got a full construction loan, and not just a land loan, you should get to keep that money from your FHOG when its given to you as you didn't have to use it for the purpose you intended. When you get it is up to the bank you are using, but you should get it back, unfortunately though you have to wait for it .
If you only have a land loan at this time, make sure that you don't get charged LMI on the land loan portion again when they convert you to a construction loan (my bank tried that but I reminded them that I'd already paid LMI for the land portion and I wasn't paying it again). Hopefully settlement goes through without a hitch tomorrow. Use a product like Equisol's Vitalise to clean the deck then coat with a penetrating timber oil. It will look 10 years younger and add value to your home. Visit for… 1 15809 How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 11933 Mofflepop, Are you building around Qld Manly? Building & Legal is a partnership between a construction guy and a construction Lawyer. Construction: we have… 9 25586 |