Browse Forums Building A New House Re: Anyone building at bunya??? 4410Jun 12, 2015 6:25 pm sydneywiseman guys, I received an email from my builder stating that the practical completion inspection is scheduled next week. I have been asked to check the requirements from the bank and council for handover. Does anyone have a clue what are the requirements? My understanding is that I can get an interim occupancy certificate for the time being. I can complete my landscaping, solar panels, etc after handover after which I become eligible to get a final occupancy certificate. However, I am also doing my flooring after handover. This raises couple of questions. 1. Can the council issues an interim occupancy certificate before the flooring is done? 2. Can the bank release teh final payment before an interim occupancy certificate is issued? Need a quick advice friends. How did you go with that flooring after handover? Any issue with bank releasing final payment? Re: Anyone building at bunya??? 4411Jun 27, 2018 7:47 pm Whytee HAF should be taken off your valuation if your lot is subject to it. Although the HAF is marketed as a 'rebate' it actually is indicative of the 'true market value' of the land. You never pay the HAF (if your land is subject to it) as it is 'provided' at settlement. The market value of your land has a lot to do with supply and demand of land in the area, this is the way in which land and houses are 'priced' or valued, however it has a larger emphasis on the 'recent sales' in the area. As NSW is currently experiencing an excess of demand (over supply), consequently the 'value' of land and housing in general is increased. The HAF though should not effect other lots - it is land that has been deemed to be provided at an affordable price, it normally also represents a certain drop in quality. By this premise, lots without the HAF should be deemed 'better quality'. You should also note the 'market value' and the 'true value' are two different concepts. The bank will endeavour to price your land at the 'market value' not the 'true value'. Further, the bank will 'value' in conjunction with your contract. If you are not subject to HAF, it will not take this into consideration. Note that even HAF lots are sold (recent market sales) at full price, therefore the 'sales' data available to banks and valuers will represent a higher 'value'. Note also that the valuer general will look at the 'true value' of the land this is the value at which other land in the area is valued at (much smaller than the market value). Hope that doesn't confuse you all. - Buda is correct in his description of the contracts, and the ability to extend them. (Also correct in the stipulation that not all lots in Bunya are subject to the HAF) Totally agreed with this, very wise information. Intellichoice Finance | Financial Services Wish you all the best. Once you signed the contract, they will find millions excuses to charge you. And have seen their sites unfinished for a long time. 4 24716 As title suggests, looking at using the interlocking Pentablock stacked stone products to replace failing timber retaining… 0 17786 I am building in claymore NSW and this is shown in the building envelope plan. … 0 9970 |