Browse Forums Home Finance Re: You thought you had valuation problems! 41Dec 19, 2008 7:16 am thlo - I have a feeling since we've already exchanged contracts - it's going to be difficult to re-negotiate the price - I'll give it a go though.
the valuation was for construction of house and land - it appears they took the house price at contract value - but have downgraded the land. After 4 years - we're in! Re: You thought you had valuation problems! 43Dec 19, 2008 11:27 am They pretty much valued golf course lots at the same value as regular lots.
Anyway - latest news is that the developer has had independent valuations done on every block and will be sending me a copy. Will be interesting to see what it says. After 4 years - we're in! Re: You thought you had valuation problems! 44Dec 19, 2008 12:02 pm yup, that will definitely be interesting... let us know too? unless developer will just let you know what your lot was valued at only... then we'll wait our turn
by the way, you wouldn't happen to know when Stonecutters is closing for the Christmas/New Years period, would you? i keep forgetting to get Nav to ask Re: You thought you had valuation problems! 45Dec 19, 2008 12:53 pm i heard that the sales office is now closed but re-opening 7 jan.
mark is still contactable on his mobile apparently we'll all be invited to the opening of the display homes in 2nd wk of jan as well After 4 years - we're in! sydney home loans for first home buyers 46Dec 19, 2008 1:48 pm stonecutter1309 thlo - I have a feeling since we've already exchanged contracts - it's going to be difficult to re-negotiate the price - I'll give it a go though. the valuation was for construction of house and land - it appears they took the house price at contract value - but have downgraded the land. I think it's still possible. It's all about whether the vendor thinks you have the capacity to walk away. A bit difficult if exchanged unconditionally. sydney home loan advice, home loan tips, first home advice 47Jan 05, 2009 3:19 pm just remembered to ask; is there a Rebate in the Contract of Sale? Re: You thought you had valuation problems! 48Jan 07, 2009 10:25 am We have the ANZ valuation back - better - but still more than $200k short of the land + construction cost.
Strangely - the construction cost does not equal the value of the house after completion I've made a query to my broker about why this is the case. The valuation is something we can certainly work within - I just won't be able to spend $20k fitting out the house straight away when we move in - perhaps in 18 months time. Edit - there's no rebate in the contract - so nothing to deduct there. After 4 years - we're in! home loans in sydney, sydney house and land 49Jan 12, 2009 3:51 pm Are you settling on ANZ then? Or are you going to try for third time lucky. Re: You thought you had valuation problems! 50Jan 12, 2009 4:06 pm settling with ANZ - I honestly am over this whole issue and just want to move foward After 4 years - we're in! home loans in sydney, sydney house and land 51Jan 12, 2009 5:36 pm It's great you are not fussed about increasing your deposit. I can safely say none of my customers can increase their contribution to meet such a shortfall as yours.
So how long before you can play a round of golf? Re: You thought you had valuation problems! 52Jan 13, 2009 8:27 am I think the course opens mid 2010 - I can't wait! After 4 years - we're in! Re: home loans in sydney, sydney house and land 53Jan 13, 2009 11:12 am thlo It's great you are not fussed about increasing your deposit. I can safely say none of my customers can increase their contribution to meet such a shortfall as yours. So how long before you can play a round of golf? If our valuation comes in low (hopefully not 200k), I won't be able to build for a few years while I build some equity on the land. Crossing my fingers and hoping our valuation for house + land comes in ok. With CBA our loan for the land alone was approved without issues, not sure what the outcome will be with the house tagged on now. Re: You thought you had valuation problems! 54Jan 13, 2009 12:29 pm Nav - our broker has been talking with a lot of valuers these days and apparently one cause for our problem is that we applied for land & construction at the same time.
Apparently it's much easier for the value to come in if you do the land first, and then apply for a construction loan once you own the land. (Shame he didn't tell us that in the first place!) After 4 years - we're in! Re: You thought you had valuation problems! 55Jan 13, 2009 8:03 pm thats to bad for you.we brought our land outright with no loans so didnot have these issues. we then got a loan for the house construction but by then the land had increase by $80,000 in value.But I do know that valuers are under valuing now due to economic downturn they are trying to be safe.For us to sell our house its value is $600,000 plus bank value $450,000 but no problems as we only need a small amount, hang in there best of luck to you finished building 40 square home on 5 acres with perry homes.working on the landscaping just finished pool deck with ://forum.homeone.com.au/viewtopic.php?f=31&t=2217 Re: home loans in sydney, sydney house and land 56Jan 31, 2009 6:03 pm Nav thlo It's great you are not fussed about increasing your deposit. I can safely say none of my customers can increase their contribution to meet such a shortfall as yours. So how long before you can play a round of golf? If our valuation comes in low (hopefully not 200k), I won't be able to build for a few years while I build some equity on the land. Crossing my fingers and hoping our valuation for house + land comes in ok. With CBA our loan for the land alone was approved without issues, not sure what the outcome will be with the house tagged on now. Hi Nav, how did you go with your valuation? Re: You thought you had valuation problems! 57Feb 02, 2009 2:36 pm Hey thlo, sorry just saw this today. We're still waiting for CBA to come back to us, our broker said he called Friday and they said the valuer hasn't had a chance to do the valuation yet. I'll probably be hastling our broker again in a day or so to see where it's at :). Re: You thought you had valuation problems! 58Feb 04, 2009 1:17 pm Hi Nav, please let us know how it went when you get the news. bank valuation, clerical errors 59Feb 05, 2009 1:58 pm Nav, i got your message but would you be able to communicate via email (sorry I don't have yours), i don't use PM for specific (Privacy Act) issues.
If you prefer not to, that's fine. I'll explain it in very general terms here; What you describe is due to a misunderstanding or bad loan structure, but the broker (if he chooses) can call the valuer to sort him/her out and see why s/he interfered with loan process. Also why didn't the broker manage the process and let things slide? I make a habit to track each loan to make sure no admin errors take place (believe me it's a struggle). Total Quality Management is the motto! That is a really good attitude Akin to you catch more flies with honey than vinegar. I do enjoy watching that tik tok inspector from Victoria but he does go a little… 12 81883 I am not a brick expert, but rendering would be 1 option, it would be costly to do the entire house though.... 2 6677 Hi all, has anyone been ask to do the weeds in their property while in the middle of build? We are under the impression that they are in control of the site while they… 0 2764 |