Hi all I came across this site and as they say first impression lasts very nice forum and I can see myself spending fir bit of time on here reading up.
Me and the gf are in the process of getting a house and land with Simonds and I am not sure if it happens to everyone but I don't think I have ever been so stressed out not by Simonds just self caused lol. We have put a initial deposit on Stamford and about to put deposit on land as well and from what I had planned was to do this at end of the year but its been gone in fast forward mode. We still have a land settlement set for Jan 14 and build start for Feb 14 so plenty of time.
I have few questions tho. What happens if I have pre approval now but by time it gets to settlement of land bank turns around and says we can only give u this much and not as much as I have budgeted for at pre approval? I am only asking as I have seen people have problems but no one ever said how they fixed it and considering I have been saving and cut spending by half to put more money into savings makes me worried what would happen.
I am guessing the land will have in contract subject to finance but if bank says u can have 50k less than what the total cost of house and land is does that mean If I can't sort that out I get my deposit back on land and the house?
Sorry for a long story but only way I could get to the point without confusing myself and others
Thanks in advance