Newpark Estate, Marsden Park

Hi Guys I went there today looks like lots been separated. And lot more work done comapred to the visit we did begening of february. My land is at Marsdenia Avenue. By the looks of it it will be registering soon.

Hi Guys I went there today looks like lots been separated. And lot more work done comapred to the visit we did start of february. My land is at Marsdenia avenue. Hopefully this will gets registered soon.

Thanks Kad, for the information. Where you able go pass the bridge, close to the land?

Hello all,

I am just passing by

Thanks your sharing information. I wish to please have help from lovely expert advice.

I am looking at two lot in Marsden Park. Once for Elara and other once for Newpark!

My friend buy in Elara for $388,000 for 300m2. When it's valued by bank it has value of $350,000! She and her husband try another bank approval and has vakue of $350,000 same!

What is bank strategy? My friend and her husband think the big 4 main banks work together to make their value lower. How can they both have low valuations and match for same value? Maybe suspicious. May be it's unfair?

I meet other families as I visit the Newpark and meet this nice family yesterday who bought in Newpark recent for $380,000. 300m2 block. Bank valuation come in at $360,000. But this is Newpark and can't be right? I said maybe banks are unfair but they said other side of the story - developers and vendors are selling land in Marsden Park and Box Hill overprice. Desperit to sell wgich also explains many spexial discount.

Can anyone help discover valuation before signing the contract? What can we do if we buy the land but the valuation is less than we signing the contract?

Many thanks for participation.

Warm regard.

Hi there harshit

Welcome to the forum.

It really sounds like a tough market out there with bank valuations. I am sure your friend is not alone. I would go with a broker in this instance - they can order land valuations before submitting formal applications to banks because you need to remember that every time you submit an application formally to the bank, it will show up on your credit history so just be aware of that.

So what happens if the bank's value is under purchase price? Does that mean they have to come up with the extra $30,000? Sorry, not sure how it all works in that situation. I have seen both Elara and Newpark giving huge discounts though...

Yes, i was there on the weekend too! Much progress has been made! Newpark website still says registration second half 2019, but it looks ready to go to me You still cant drive over the bridge, i just want to smash through the gates and see over there ha ha ha.
I rang Blacktown Council and no DP has been put in for the Area (precinct 4) yet :/

Thanks mate

Hi Kad, welcome, we are on Marsdenia Avenue too

Hi All, thought to share a recent information received from a builder I enquired and who is also selling H&L package a few lots down from ours (its their best interest to find out). He confirmed with the developer sales rep that the land will be registering second half of 19 but more towards the last quarter.

For us, we are already abit wary with the value falling but remains positive. Our sunset clause ends Dec.

Oh I thought they might have apply for it already. But Im hopeful it will be ready next month. Fingers crossed

Hey everyone,

Spole with my builder today. They informed me that the developer of the land had been in contact with them, and was told that the land (Precinct 4) registration Will take place late August 2019... exciting!

Thanks for the update.

Congrats! That is very exciting indeed! Good time to finalise and lock in your builder now. As reference, we are in Newpark Stage 1.

Timeline 2018:
Land registered in August
Developer Approval in September
Council Approval in November
Christmas shutdown in December

Timeline 2019:
Final Admin paperwork completed in January
Construction start in February

If you are able to do your selections with your builder now, that would be good so that when your land is registered, the quicker you can get to construction stage (it takes approx 5 months from Land Registration to Construction stage). I'm just pointing this out because some people wait till Land registers to pick their builder and then get disappointed that Admin is so long. But if you are not in a rush to start building, by all means take your time. The selection process can take quiet some time too.

Goodluck!

Thanks for the timeline. It gives me some clarity on how long to keep the tender active

Thanks for the timeline, its very exciting!

I was speaking to one of the builders and he asked me to check whether the new park guidelines is part of the 88B so that it was to be followed as such? How easy to deviate from the guidelines? If there is a possibility, what is the procedure?

Cheers

Do you mean the design guidelines like colour schemes, fence ext... Or the thing like double storey only

Like double storey and roof type?

Great News! Thanks

Hi Kad, I just read about the update and your response, hopefully give us both a piece of mind now knowing when