Applied through Westpac, and got conditional based on valuation..and the valuation came back 21,000 less. They didn't even want to include fencing and variation.
Went for an upfront valuation through bank 2 (Suncorp), this time came up 10,000 less.
Both times they valued the build at 100% because it's a no frill 3br house, but when valuing against final cost, they are showing previous sales records of the area (not in the same new estate) and tells us a 3BR on a 400m2 lot (no retaining walls, no easements, flat land, in a court bang opposite a park) is only worth $400,000 not $420,000.
So not really sure where to go with this now. We are using a broker, and the land developer isn't going to discount the land because they already showed stats of recently settled land which had similar price as ours.
From the posts am reading, the valuers don't want to re-do their valuation. Any tips? Anybody else bought/built in Ormeau Ridge Estate (Ormeau Hills)?
Cheers