Browse Forums Home Finance 1 Mar 16, 2009 3:08 pm My brother and I have decided to build a home with Dennis Family Homes. We have been in contact with their financial people who have been terrific and have helped us apply for a loan and are packaging the loan as a 'house and land' loan. We have gone through Colonial/CBA and have been granted pre-approval.
We have paid our $7,000+ deposit on the land. The land does not settle until July. We have had our initial DFH consultation and have paid our $500 deposit. DFH cannot conduct a soil test on the land until late May-early June, so realistically, a total purchase price cannot be reached until this is done, therefore we won't know the exact loan amount until this has been done. We are currently being contacted by the lawyers of the land owners through our conveyencer requesting to know that we have a full loan approval. They have contacted us twice now - we have contacted our finance man and he can't understand why they need to know now as we have a pre-approval and evidence that the bank will support us, and that technically as we can't soil test until so much later, it is really them who are holding up the process of getting to contract. We are first home buyers, new to this obviously and are feeling a but run around by all of this stuff.... Re: some advice please!!! 2Mar 23, 2009 3:46 pm Hi, Is your purchase contract subject to finance within a certain time period? Tell us what the clause in the contract says about finance. Also why can't they do the soil test now? Just because the land hasn't been titled doesn't stop a soil test. Then again if fill has to be compacted etc there is no point doing the soil test now. Dale. Building the Monaco 32 with Carlisle Homes Check out our blog for photos and progress reports: http://www.beigefreehouse.blogspot.com . Thank you so much for the effort. We will use it to talk with builder. We also had idea of building duplex instead and seeking suggest ions. viewtopic.php?f=31&t=106744 11 13833 Versaloc is a mortarless besser block system that still needs a properly engineered footing. If you just do a 400x200 footing it will fail in time. At 17m long you need it… 1 17678 Hi VK, I am now retired however I have stood beside over 300 owner builders in the past 18 years that have successfully built their own homes. First of all a building… 10 22668 |