Hi Guys,
New to this forum and I'm a first home buyer.
I'm buying a house + land package from New Living Homes (NLH) at Oran Park. The land is due to be registered in the last week of July 2016. NLH have asked me to sign the building contract first before the land gets registered. Is it a standard practice with NLH and other builders?
I actually wanted to sign the building contract once the land gets registered as I want the land valuation to be done first before signing the building contract; the reason is I want to know how much the bank is going to finance me on the land. As I have a set budget, I am worried if there will a big difference in land valuation - bank valuation V/S the land price from the builder/developer.
Please advise.