Browse Forums Buying Land Re: Jordan Spring East Land Valuation 7Oct 19, 2018 11:43 am ravi123 ravi123 circaten Hi Ravi, I believe CBA will send out someone to do a valuation on the land, then after you have plans they will do another valuation based on the completed home. We bought land on the other side of the Great Western at Caddens Hill and it has been valued at sale price if that helps. Otherwise there is no sure way to tell until they have done it. Thanks, Circaten Appreciate Thanks, Skcel, I understand that banks do valuation as following: "Lend sale price at the time + Construction Fixed Contract price = Valuation" Is that correct? I am afraid because we might get lower valuation from CBA for our construction loan and we have to get the LMI to borrow maximum amount. Can someone please advise on that matter? Yep that's correct, if your purchased the land some time ago like mentioned you wont have a problem with the valuation. They will only price it for what you paid for it. If the value has gone up they dont take that into account. The will value your build at the fixed price last quote from your builder. Usually this wont be an issue unless they the builder is ripping you off significantly. DIY, Home Maintenance & Repair We purchased a 1960s property that is on timber stumps mostly, and a newer section is on concrete stumps. We had a building inspection initially and they reported some… 0 12743 The warning is on the sticker on the door too. Second the aluminium powdercoat 6 18198 Hi, can anyone recommend a custom home builder who can build in north east area? Looking to build a custom 4-br energy-efficient home with a max budget of 750k. If they… 0 22813 |