Browse Forums Buying Land Re: Pay land deposit with approval in principle 4Jun 09, 2011 12:46 pm Building the Milano30 Site start: 30th June 2011 PCI: 1st December 2011 Handover: As soon as the bank pays! Approx 16th December viewtopic.php?f=31&t=44051 Re: Pay land deposit with approval in principle 7Jun 09, 2011 5:03 pm thanks everyone for the helpful replies! We have a copy of the land contract etc. We have a plan of action. Our Metricn rep has drawn a quote variation with a studio M allowance on it so hopefully the bank will accept that into the quote for full approval. Finance guy didnt have much to say about paying deposit with condition to finance. So we are going to: submit land contract and quote to CBA for full unconditional approval. Then once approved we will pay the 5% to met for the land. Then do studio M etc with the extra allowance in the quote to spend there. Hope this is the right thing. I rang CBA they said to do what broker says and if it comes to it we cant choose what we want house wise then speak to bank http://lindeman28.blogspot.com - Our building blog Hi Mofflepop, I would recommend finding a building designer to prepare plans, they should design to your specified budget. The benefit is you can tender the project out… 9 20355 In NSW the maximum deposit for building work is 5% until the builder provides HBCF insurance 1 4814 1 2965 |