Browse Forums Home Finance 1 Aug 05, 2012 10:07 pm Hi everyone, I have recently paid the deposit of the land in Casuarina New Rouse Hill, (the last lot as per lend lease). One of the condition of the contract stated the caveat will be added on or after settlement and will be removed until the house is built. In the case, it is likely to affect my loan application from the bank as the bank will do a title search before approving the loan application. One of my friend who works in the bank told me it is unlikely for the bank to approve the loan application as they always require to have a "clean" title. The land is not registered until next year so I won't be able to find out exactly whether the loan will be approved or not. Does anyone in the forum has the same situation too? Should I still go ahead to pay 5%deposit of this land? Re: Question about caveat title 3Aug 05, 2012 11:10 pm They just want to make sure the landscaping, external lighting and fencing on the lot burdened in compliance with the buiding and siting requirements to the reasonable satisfaction of the developer, before removing the caveat title. Re: Question about caveat title 4Aug 06, 2012 10:17 am that ok then. Your friend is getting confused. The banks just dont wont anyone to have a financial interest in the land appart from themselves. That way if you dont pay they can take the land from you. This is a different type of caveat. Re: Question about caveat title 5Aug 06, 2012 11:03 am Thanks so much for your reply, much appreciated!!! Flamingo Give me a call and I will do my best to talk you through it. For those who would like an answer, Subject to seeing your actual DA condition, I think you are… 1 3924 thank you! do we need to get this or our builder before we commence new build on the block? 2 4420 You can really use anything you want the main consideration would be how it looks once painted/finished - or the look you want. Cabinetmakers use MDF because its cheap… 2 6648 |