Dec 30, 2018 11:33 am
Hi guys, total naive newbie question. I posted before but didn't get any replies.
We found a block of land we like, and then wish to build a house for us on it. The land is being sold by private sellers (no REA involved)
We spoke to a broker who explained a combined land/constructuon loan would be the best option.
However the private sellers are being quite difficult and want it sold like yesterday, and if we do the whole land/construction in one go wouldnt we have to put a time-specific finance clause in to cater for us to draw up plans and get council approval? Wish I assume is like 3 months, before it would settle? No chance the sellers would wait that long..
Alternatively do land loan then construction loan, but broker said we would have more options doing it together?
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MelbournevicSuggestions for finance options for land/constructionSuggestions for finance options for land/construction
Thanks, good to know. It would be the same lender.
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