Hi all,
I am first home buyer here. How does the process of buying of land, seems like different developers have their own procedure.
Had a bad experience with one of the developer where they allow deposit to hold the land for 10 days to organise Finance and conveyancer, upon signing of contract I have to put down another 10% deposit (which is total of 1st deposit + 10% of Land price when we sign). Finance part is tricky as pre-approval does not come back after week(s). I was told by the Sales that extension is not possible and does not allow subject to finance?
Will you consider this is okay? what if the lender rejected the pre-approval?