Browse Forums Home Finance 1 Aug 25, 2009 10:52 pm Hi all, We got our land loan unconditionally approved today Yay. Obviously we won't get the house loan unconditionally approved until later when we get a house contract, etc. (we have the house loan conditionally approved) When we signed our land contract they asked what the loan amount was for to enter into the subject to finance clause - I advised the full amount (house + land) Of course today we need to show them we have finance fully approved, but obviously we only have the finance approved for the land, but the subject to finance clause states "no less than xxx,xxx" which is the full amount for house + land... Will this be a problem? Re: Land contract - Subject to Finance clause - What $ to put? 2Aug 26, 2009 11:40 am Wont be an issue.. We (and I assume most others) have done the same thing. Once you have un-conditonal for the land amount your away. I assume the bank has given you conditonal approval (or pre-approval) for the full amount and unconditional for the land. A lot can change yet, so the $$ for the house may go up or down. Re: Land contract - Subject to Finance clause - What $ to put? 3Aug 26, 2009 12:47 pm Yep, unconditional for the land now and conditional for the house. You were right, the land guys got back to me and its fine. Yay Unless there is something in special conditions the builder does not have to give you timeline. If your demolition contractor has not removed Asbestos and it was found… 12 29018 You talk about deletions, are they variations or PS and PC adjustments? pleas list them 1 16903 you were just referred to get advice from your solicitor. This is a legal matter. Separately, why would you use a buyers agent for a house and land package? 3 61822 |