Browse Forums Home Finance 1 Mar 12, 2016 1:20 pm I'm wanting ask if anyone knows... Once you get your land valued does the valuation actually last a certain amount of time? Reason I'm asking is because we are building in western, Melbourne and had the bank come and valuate the land plus build (came back at an amazing price!) But there were things missing from our contract and our broker didn't know this. So he took the signed contract to the bank and so on. He has strongly advised us not to add these things to our contract now because then he would have to get the land reevaluated. Is this right? I don't really know much about it so hoping someone can clarify this for me. Hope I've made sense! TIA viewtopic.php?t=82377 Our Glendale 45 build Re: Land valuation 2Mar 12, 2016 2:34 pm Glendale45 I'm wanting ask if anyone knows... Once you get your land valued does the valuation actually last a certain amount of time? Reason I'm asking is because we are building in western, Melbourne and had the bank come and valuate the land plus build (came back at an amazing price!) But there were things missing from our contract and our broker didn't know this. So he took the signed contract to the bank and so on. He has strongly advised us not to add these things to our contract now because then he would have to get the land reevaluated. Is this right? I don't really know much about it so hoping someone can clarify this for me. Hope I've made sense! TIA viewtopic.php?t=82377 Our Glendale 45 build Really Glendale. We are due for ours next 3 weeks, what things would we have to watch out for that we shouldn't be signing? If it's to personal that's ok? Just wanted a thumbs instead of going in blind viewtopic.php?t=79203 Re: Land valuation 3Mar 12, 2016 2:50 pm Glendale45 I'm wanting ask if anyone knows... Once you get your land valued does the valuation actually last a certain amount of time? Reason I'm asking is because we are building in western, Melbourne and had the bank come and valuate the land plus build (came back at an amazing price!) But there were things missing from our contract and our broker didn't know this. So he took the signed contract to the bank and so on. He has strongly advised us not to add these things to our contract now because then he would have to get the land reevaluated. Is this right? I don't really know much about it so hoping someone can clarify this for me. Hope I've made sense! TIA viewtopic.php?t=82377 Our Glendale 45 build Hi Glendale45, I'm also building in western melbourne, point cook. Where are you building? Re: Land valuation 4Mar 12, 2016 2:54 pm Emmz70 Glendale45 I'm wanting ask if anyone knows... Once you get your land valued does the valuation actually last a certain amount of time? Reason I'm asking is because we are building in western, Melbourne and had the bank come and valuate the land plus build (came back at an amazing price!) But there were things missing from our contract and our broker didn't know this. So he took the signed contract to the bank and so on. He has strongly advised us not to add these things to our contract now because then he would have to get the land reevaluated. Is this right? I don't really know much about it so hoping someone can clarify this for me. Hope I've made sense! TIA viewtopic.php?t=82377 Our Glendale 45 build Really Glendale. We are due for ours next 3 weeks, what things would we have to watch out for that we shouldn't be signing? If it's to personal that's ok? Just wanted a thumbs instead of going in blind viewtopic.php?t=79203 Its so hard! Just make sure everything that you want in your contract is in there before signing and the broker goes to the bank with it. As now he's advised us whatever we want to add we should pay cash, because he is worried that our land won't get the same valuation again (we were all very shocked at the first one) and be a lot less. This is stressing me out so much as they left our carpet out and a few other things, and the money we have saved is for our deposit. So we would have to be paying a mortgage, rent and saving for the things they left out! viewtopic.php?t=82377 Our Glendale 45 build Re: Land valuation 5Mar 12, 2016 2:55 pm vintay68 Glendale45 I'm wanting ask if anyone knows... Once you get your land valued does the valuation actually last a certain amount of time? Reason I'm asking is because we are building in western, Melbourne and had the bank come and valuate the land plus build (came back at an amazing price!) But there were things missing from our contract and our broker didn't know this. So he took the signed contract to the bank and so on. He has strongly advised us not to add these things to our contract now because then he would have to get the land reevaluated. Is this right? I don't really know much about it so hoping someone can clarify this for me. Hope I've made sense! TIA viewtopic.php?t=82377 Our Glendale 45 build Hi Glendale45, I'm also building in western melbourne, point cook. Where are you building? Hi Vintay68, We are building in Melton west. Point cook is lovely! viewtopic.php?t=82377 Our Glendale 45 build Re: Land valuation 6Mar 12, 2016 3:05 pm Glendale45 Emmz70 Glendale45 I'm wanting ask if anyone knows... Once you get your land valued does the valuation actually last a certain amount of time? Reason I'm asking is because we are building in western, Melbourne and had the bank come and valuate the land plus build (came back at an amazing price!) But there were things missing from our contract and our broker didn't know this. So he took the signed contract to the bank and so on. He has strongly advised us not to add these things to our contract now because then he would have to get the land reevaluated. Is this right? I don't really know much about it so hoping someone can clarify this for me. Hope I've made sense! TIA viewtopic.php?t=82377 Our Glendale 45 build Really Glendale. We are due for ours next 3 weeks, what things would we have to watch out for that we shouldn't be signing? If it's to personal that's ok? Just wanted a thumbs instead of going in blind viewtopic.php?t=79203 Its so hard! Just make sure everything that you want in your contract is in there before signing and the broker goes to the bank with it. As now he's advised us whatever we want to add we should pay cash, because he is worried that our land won't get the same valuation again (we were all very shocked at the first one) and be a lot less. This is stressing me out so much as they left our carpet out and a few other things, and the money we have saved is for our deposit. So we would have to be paying a mortgage, rent and saving for the things they left out! viewtopic.php?t=82377 Our Glendale 45 build Hi Glendale45, You are on a land and house package or you had already purchase land? Re: Land valuation 7Mar 12, 2016 3:31 pm vintay68 Glendale45 Emmz70 [quote="Glendale45"]I'm wanting ask if anyone knows... Once you get your land valued does the valuation actually last a certain amount of time? Reason I'm asking is because we are building in western, Melbourne and had the bank come and valuate the land plus build (came back at an amazing price!) But there were things missing from our contract and our broker didn't know this. So he took the signed contract to the bank and so on. He has strongly advised us not to add these things to our contract now because then he would have to get the land reevaluated. Is this right? I don't really know much about it so hoping someone can clarify this for me. Hope I've made sense! TIA viewtopic.php?t=82377 Our Glendale 45 build Really Glendale. We are due for ours next 3 weeks, what things would we have to watch out for that we shouldn't be signing? If it's to personal that's ok? Just wanted a thumbs instead of going in blind viewtopic.php?t=79203 Its so hard! Just make sure everything that you want in your contract is in there before signing and the broker goes to the bank with it. As now he's advised us whatever we want to add we should pay cash, because he is worried that our land won't get the same valuation again (we were all very shocked at the first one) and be a lot less. This is stressing me out so much as they left our carpet out and a few other things, and the money we have saved is for our deposit. So we would have to be paying a mortgage, rent and saving for the things they left out! viewtopic.php?t=82377 Our Glendale 45 build Hi Glendale45, You are on a land and house package or you had already purchase land?[/quote] We've had our land for 2 years now so no house and land package. viewtopic.php?t=82377 Our Glendale 45 build Re: Land valuation 8Mar 12, 2016 3:44 pm Glendale45 Emmz70 Glendale45 I'm wanting ask if anyone knows... Once you get your land valued does the valuation actually last a certain amount of time? Reason I'm asking is because we are building in western, Melbourne and had the bank come and valuate the land plus build (came back at an amazing price!) But there were things missing from our contract and our broker didn't know this. So he took the signed contract to the bank and so on. He has strongly advised us not to add these things to our contract now because then he would have to get the land reevaluated. Is this right? I don't really know much about it so hoping someone can clarify this for me. Hope I've made sense! TIA viewtopic.php?t=82377 Our Glendale 45 build Really Glendale. We are due for ours next 3 weeks, what things would we have to watch out for that we shouldn't be signing? If it's to personal that's ok? Just wanted a thumbs instead of going in blind viewtopic.php?t=79203 Its so hard! Just make sure everything that you want in your contract is in there before signing and the broker goes to the bank with it. As now he's advised us whatever we want to add we should pay cash, because he is worried that our land won't get the same valuation again (we were all very shocked at the first one) and be a lot less. This is stressing me out so much as they left our carpet out and a few other things, and the money we have saved is for our deposit. So we would have to be paying a mortgage, rent and saving for the things they left out! viewtopic.php?t=82377 Our Glendale 45 build Oh I see, yes I'm dreading our day with bank, we didn't want to go overboard on the upgrades for this very reason but then you don't want to skimp on upgrading because it would look unfinished We were thinking of getting provisions added to our loan as well, fencing, and landscaping but we'll see. (Depending on valuation) We've budgeted for all the above including our tiles, but if banks can cover these it would be a bonus It's hard for us as well because we are in newly established areas, but our lands gone up 40k since last June so we're hoping for a positive result viewtopic.php?t=79203 Re: Land valuation 9Mar 12, 2016 3:50 pm Emmz70 Glendale45 Emmz70 [quote="Glendale45"]I'm wanting ask if anyone knows... Once you get your land valued does the valuation actually last a certain amount of time? Reason I'm asking is because we are building in western, Melbourne and had the bank come and valuate the land plus build (came back at an amazing price!) But there were things missing from our contract and our broker didn't know this. So he took the signed contract to the bank and so on. He has strongly advised us not to add these things to our contract now because then he would have to get the land reevaluated. Is this right? I don't really know much about it so hoping someone can clarify this for me. Hope I've made sense! TIA viewtopic.php?t=82377 Our Glendale 45 build Really Glendale. We are due for ours next 3 weeks, what things would we have to watch out for that we shouldn't be signing? If it's to personal that's ok? Just wanted a thumbs instead of going in blind viewtopic.php?t=79203 Its so hard! Just make sure everything that you want in your contract is in there before signing and the broker goes to the bank with it. As now he's advised us whatever we want to add we should pay cash, because he is worried that our land won't get the same valuation again (we were all very shocked at the first one) and be a lot less. This is stressing me out so much as they left our carpet out and a few other things, and the money we have saved is for our deposit. So we would have to be paying a mortgage, rent and saving for the things they left out! viewtopic.php?t=82377 Our Glendale 45 build Oh I see, yes I'm dreading our day with bank, we didn't want to go overboard on the upgrades for this very reason but then you don't want to skimp on upgrading because it would look unfinished We were thinking of getting provisions added to our loan as well, fencing, and landscaping but we'll see. (Depending on valuation) We've budgeted for all the above including our tiles, but if banks can cover these it would be a bonus It's hard for us as well because we are in newly established areas, but our lands gone up 40k since last June so we're hoping for a positive result viewtopic.php?t=79203[/quote] That sucks now I know what to look forward too viewtopic.php?t=79203 Re: Land valuation 10Mar 12, 2016 7:09 pm Emmz70 Emmz70 Glendale45 [quote="Emmz70"][quote="Glendale45"]I'm wanting ask if anyone knows... Once you get your land valued does the valuation actually last a certain amount of time? Reason I'm asking is because we are building in western, Melbourne and had the bank come and valuate the land plus build (came back at an amazing price!) But there were things missing from our contract and our broker didn't know this. So he took the signed contract to the bank and so on. He has strongly advised us not to add these things to our contract now because then he would have to get the land reevaluated. Is this right? I don't really know much about it so hoping someone can clarify this for me. Hope I've made sense! TIA viewtopic.php?t=82377 Our Glendale 45 build Really Glendale. We are due for ours next 3 weeks, what things would we have to watch out for that we shouldn't be signing? If it's to personal that's ok? Just wanted a thumbs instead of going in blind viewtopic.php?t=79203 Its so hard! Just make sure everything that you want in your contract is in there before signing and the broker goes to the bank with it. As now he's advised us whatever we want to add we should pay cash, because he is worried that our land won't get the same valuation again (we were all very shocked at the first one) and be a lot less. This is stressing me out so much as they left our carpet out and a few other things, and the money we have saved is for our deposit. So we would have to be paying a mortgage, rent and saving for the things they left out! viewtopic.php?t=82377 Our Glendale 45 build Oh I see, yes I'm dreading our day with bank, we didn't want to go overboard on the upgrades for this very reason but then you don't want to skimp on upgrading because it would look unfinished We were thinking of getting provisions added to our loan as well, fencing, and landscaping but we'll see. (Depending on valuation) We've budgeted for all the above including our tiles, but if banks can cover these it would be a bonus It's hard for us as well because we are in newly established areas, but our lands gone up 40k since last June so we're hoping for a positive result viewtopic.php?t=79203[/quote] That sucks now I know what to look forward too viewtopic.php?t=79203[/quote] That's fantastic news about your land value!! Hopefully it all works out for you when it comes time I just thought once you got the house and land valuation done it wouldn't need to be done again as we are going with that bank. But the broker is telling me it will so I'm very confused viewtopic.php?t=82377 Our Glendale 45 build Re: Land valuation 11Mar 12, 2016 8:01 pm Hi, Valuations typically last 90 days Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Land valuation 12Mar 12, 2016 8:13 pm Glendale45 Emmz70 Emmz70 [quote="Glendale45"][quote="Emmz70"][quote="Glendale45"]I'm wanting ask if anyone knows... Once you get your land valued does the valuation actually last a certain amount of time? Reason I'm asking is because we are building in western, Melbourne and had the bank come and valuate the land plus build (came back at an amazing price!) But there were things missing from our contract and our broker didn't know this. So he took the signed contract to the bank and so on. He has strongly advised us not to add these things to our contract now because then he would have to get the land reevaluated. Is this right? I don't really know much about it so hoping someone can clarify this for me. Hope I've made sense! TIA viewtopic.php?t=82377 Our Glendale 45 build Really Glendale. We are due for ours next 3 weeks, what things would we have to watch out for that we shouldn't be signing? If it's to personal that's ok? Just wanted a thumbs instead of going in blind viewtopic.php?t=79203 Its so hard! Just make sure everything that you want in your contract is in there before signing and the broker goes to the bank with it. As now he's advised us whatever we want to add we should pay cash, because he is worried that our land won't get the same valuation again (we were all very shocked at the first one) and be a lot less. This is stressing me out so much as they left our carpet out and a few other things, and the money we have saved is for our deposit. So we would have to be paying a mortgage, rent and saving for the things they left out! viewtopic.php?t=82377 Our Glendale 45 build Oh I see, yes I'm dreading our day with bank, we didn't want to go overboard on the upgrades for this very reason but then you don't want to skimp on upgrading because it would look unfinished We were thinking of getting provisions added to our loan as well, fencing, and landscaping but we'll see. (Depending on valuation) We've budgeted for all the above including our tiles, but if banks can cover these it would be a bonus It's hard for us as well because we are in newly established areas, but our lands gone up 40k since last June so we're hoping for a positive result viewtopic.php?t=79203[/quote] That sucks now I know what to look forward too viewtopic.php?t=79203[/quote] That's fantastic news about your land value!! Hopefully it all works out for you when it comes time I just thought once you got the house and land valuation done it wouldn't need to be done again as we are going with that bank. But the broker is telling me it will so I'm very confused viewtopic.php?t=82377 Our Glendale 45 build[/quote] Our broker contacted us Wednesday and said we'll start the loan process April. 3 months prior to our land titling. Then we'll finalise it June/July. He told us all the shortfalls from bank valuations and told us he'll continue to look at all banks until he finds the right one. He's going to try to get maximum loan capacity and also look into ways where we can keep some of our deposit for the extra provisions. We don't mind either way as long as we're covered for everything We have the utmost confidence in our broker he always keeps us updated, always available and he'll be targeting many banks not just one until he finds the perfect one that benefits us. Even though they work for M his priority is us. So hope YOUR broker shops around and looks for a better bank. Their is definitely one out there "perfect" for you! viewtopic.php?t=79203 Re: Land valuation 13Mar 12, 2016 8:17 pm /quote] Our broker contacted us Wednesday and said we'll start the loan process April. 3 months prior to our land titling. Then we'll finalise it June/July. He told us all the shortfalls from bank valuations and told us he'll continue to look at all banks until he finds the right one. He's going to try to get maximum loan capacity and also look into ways where we can keep some of our deposit for the extra provisions. We don't mind either way as long as we're covered for everything We have the utmost confidence in our broker he always keeps us updated, always available and he'll be targeting many banks not just one until he finds the perfect one that benefits us. Even though they work for M his priority is us. So hope YOUR broker shops around and looks for a better bank. Their is definitely one out there "perfect" for you! viewtopic.php?t=79203[/quote] LOVE hearing this, this is how I do my job and why I love what I do Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Land valuation 14Mar 12, 2016 8:48 pm becjarrettdalton /quote] Our broker contacted us Wednesday and said we'll start the loan process April. 3 months prior to our land titling. Then we'll finalise it June/July. He told us all the shortfalls from bank valuations and told us he'll continue to look at all banks until he finds the right one. He's going to try to get maximum loan capacity and also look into ways where we can keep some of our deposit for the extra provisions. We don't mind either way as long as we're covered for everything We have the utmost confidence in our broker he always keeps us updated, always available and he'll be targeting many banks not just one until he finds the perfect one that benefits us. Even though they work for M his priority is us. So hope YOUR broker shops around and looks for a better bank. Their is definitely one out there "perfect" for you! viewtopic.php?t=79203 LOVE hearing this, this is how I do my job and why I love what I do[/quote] That's why it's been a pleasure following your forums Bec. We were at a point when almost gave up until we found there were great support people out there(like yourself) keep up the good work viewtopic.php?t=79203 Re: Land valuation 15Mar 12, 2016 8:51 pm thank you, thats wonderful, I hope I can and do add value. Here's to a brilliant build process for both of you (I love building!) Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Land valuation 16Mar 13, 2016 10:28 pm Emmz70 Glendale45 Emmz70 [quote="Emmz70"][quote="Glendale45"][quote="Emmz70"][quote="Glendale45"]I'm wanting ask if anyone knows... Once you get your land valued does the valuation actually last a certain amount of time? Reason I'm asking is because we are building in western, Melbourne and had the bank come and valuate the land plus build (came back at an amazing price!) But there were things missing from our contract and our broker didn't know this. So he took the signed contract to the bank and so on. He has strongly advised us not to add these things to our contract now because then he would have to get the land reevaluated. Is this right? I don't really know much about it so hoping someone can clarify this for me. Hope I've made sense! TIA viewtopic.php?t=82377 Our Glendale 45 build Really Glendale. We are due for ours next 3 weeks, what things would we have to watch out for that we shouldn't be signing? If it's to personal that's ok? Just wanted a thumbs instead of going in blind viewtopic.php?t=79203 Its so hard! Just make sure everything that you want in your contract is in there before signing and the broker goes to the bank with it. As now he's advised us whatever we want to add we should pay cash, because he is worried that our land won't get the same valuation again (we were all very shocked at the first one) and be a lot less. This is stressing me out so much as they left our carpet out and a few other things, and the money we have saved is for our deposit. So we would have to be paying a mortgage, rent and saving for the things they left out! viewtopic.php?t=82377 Our Glendale 45 build Oh I see, yes I'm dreading our day with bank, we didn't want to go overboard on the upgrades for this very reason but then you don't want to skimp on upgrading because it would look unfinished We were thinking of getting provisions added to our loan as well, fencing, and landscaping but we'll see. (Depending on valuation) We've budgeted for all the above including our tiles, but if banks can cover these it would be a bonus It's hard for us as well because we are in newly established areas, but our lands gone up 40k since last June so we're hoping for a positive result viewtopic.php?t=79203[/quote] That sucks now I know what to look forward too viewtopic.php?t=79203[/quote] That's fantastic news about your land value!! Hopefully it all works out for you when it comes time I just thought once you got the house and land valuation done it wouldn't need to be done again as we are going with that bank. But the broker is telling me it will so I'm very confused viewtopic.php?t=82377 Our Glendale 45 build[/quote] Our broker contacted us Wednesday and said we'll start the loan process April. 3 months prior to our land titling. Then we'll finalise it June/July. He told us all the shortfalls from bank valuations and told us he'll continue to look at all banks until he finds the right one. He's going to try to get maximum loan capacity and also look into ways where we can keep some of our deposit for the extra provisions. We don't mind either way as long as we're covered for everything We have the utmost confidence in our broker he always keeps us updated, always available and he'll be targeting many banks not just one until he finds the perfect one that benefits us. Even though they work for M his priority is us. So hope YOUR broker shops around and looks for a better bank. Their is definitely one out there "perfect" for you! viewtopic.php?t=79203[/quote] Wow your broker sounds fantastic! I think the reason our broker doesn't want to go to another bank (and us as well) is because we've already paid the mortgage insurance to our bank, as we have owned our land for 2 years now. And if we apply to a different bank we would be up for that cost again. If only M got the contract right the first time then we wouldn't be in this situation viewtopic.php?t=82377 Our Glendale 45 build Re: Land valuation 17Mar 13, 2016 10:30 pm becjarrettdalton Hi, Valuations typically last 90 days Thank you, I've heard so many different days that it lasts. But our broker is telling me it is only good for the one contract we take to the bank. If we take a different contract then we would need the valuation done again viewtopic.php?t=82377 Our Glendale 45 build Re: Land valuation 18Mar 13, 2016 10:43 pm Glendale45 Emmz70 Glendale45 [quote="Emmz70"][quote="Emmz70"][quote="Glendale45"][quote="Emmz70"][quote="Glendale45"]I'm wanting ask if anyone knows... Once you get your land valued does the valuation actually last a certain amount of time? Reason I'm asking is because we are building in western, Melbourne and had the bank come and valuate the land plus build (came back at an amazing price!) But there were things missing from our contract and our broker didn't know this. So he took the signed contract to the bank and so on. He has strongly advised us not to add these things to our contract now because then he would have to get the land reevaluated. Is this right? I don't really know much about it so hoping someone can clarify this for me. Hope I've made sense! TIA viewtopic.php?t=82377 Our Glendale 45 build Really Glendale. We are due for ours next 3 weeks, what things would we have to watch out for that we shouldn't be signing? If it's to personal that's ok? Just wanted a thumbs instead of going in blind viewtopic.php?t=79203 Its so hard! Just make sure everything that you want in your contract is in there before signing and the broker goes to the bank with it. As now he's advised us whatever we want to add we should pay cash, because he is worried that our land won't get the same valuation again (we were all very shocked at the first one) and be a lot less. This is stressing me out so much as they left our carpet out and a few other things, and the money we have saved is for our deposit. So we would have to be paying a mortgage, rent and saving for the things they left out! viewtopic.php?t=82377 Our Glendale 45 build Oh I see, yes I'm dreading our day with bank, we didn't want to go overboard on the upgrades for this very reason but then you don't want to skimp on upgrading because it would look unfinished We were thinking of getting provisions added to our loan as well, fencing, and landscaping but we'll see. (Depending on valuation) We've budgeted for all the above including our tiles, but if banks can cover these it would be a bonus It's hard for us as well because we are in newly established areas, but our lands gone up 40k since last June so we're hoping for a positive result viewtopic.php?t=79203[/quote] That sucks now I know what to look forward too viewtopic.php?t=79203[/quote] That's fantastic news about your land value!! Hopefully it all works out for you when it comes time I just thought once you got the house and land valuation done it wouldn't need to be done again as we are going with that bank. But the broker is telling me it will so I'm very confused viewtopic.php?t=82377 Our Glendale 45 build[/quote] Our broker contacted us Wednesday and said we'll start the loan process April. 3 months prior to our land titling. Then we'll finalise it June/July. He told us all the shortfalls from bank valuations and told us he'll continue to look at all banks until he finds the right one. He's going to try to get maximum loan capacity and also look into ways where we can keep some of our deposit for the extra provisions. We don't mind either way as long as we're covered for everything We have the utmost confidence in our broker he always keeps us updated, always available and he'll be targeting many banks not just one until he finds the perfect one that benefits us. Even though they work for M his priority is us. So hope YOUR broker shops around and looks for a better bank. Their is definitely one out there "perfect" for you! viewtopic.php?t=79203[/quote] Wow your broker sounds fantastic! I think the reason our broker doesn't want to go to another bank (and us as well) is because we've already paid the mortgage insurance to our bank, as we have owned our land for 2 years now. And if we apply to a different bank we would be up for that cost again. If only M got the contract right the first time then we wouldn't be in this situation viewtopic.php?t=82377 Our Glendale 45 build[/quote] Yes yours is a completely different situation. Hoping someone gives you the right advice on this and wish you all the best Glendale. Hoping if you do have 2nd valuation it would be much higher viewtopic.php?t=79203 Re: Land valuation 19Mar 13, 2016 10:45 pm Emmz70 Glendale45 Emmz70 [quote="Glendale45"][quote="Emmz70"][quote="Emmz70"][quote="Glendale45"][quote="Emmz70"][quote="Glendale45"]I'm wanting ask if anyone knows... Once you get your land valued does the valuation actually last a certain amount of time? Reason I'm asking is because we are building in western, Melbourne and had the bank come and valuate the land plus build (came back at an amazing price!) But there were things missing from our contract and our broker didn't know this. So he took the signed contract to the bank and so on. He has strongly advised us not to add these things to our contract now because then he would have to get the land reevaluated. Is this right? I don't really know much about it so hoping someone can clarify this for me. Hope I've made sense! TIA viewtopic.php?t=82377 Our Glendale 45 build Really Glendale. We are due for ours next 3 weeks, what things would we have to watch out for that we shouldn't be signing? If it's to personal that's ok? Just wanted a thumbs instead of going in blind viewtopic.php?t=79203 Its so hard! Just make sure everything that you want in your contract is in there before signing and the broker goes to the bank with it. As now he's advised us whatever we want to add we should pay cash, because he is worried that our land won't get the same valuation again (we were all very shocked at the first one) and be a lot less. This is stressing me out so much as they left our carpet out and a few other things, and the money we have saved is for our deposit. So we would have to be paying a mortgage, rent and saving for the things they left out! viewtopic.php?t=82377 Our Glendale 45 build Oh I see, yes I'm dreading our day with bank, we didn't want to go overboard on the upgrades for this very reason but then you don't want to skimp on upgrading because it would look unfinished We were thinking of getting provisions added to our loan as well, fencing, and landscaping but we'll see. (Depending on valuation) We've budgeted for all the above including our tiles, but if banks can cover these it would be a bonus It's hard for us as well because we are in newly established areas, but our lands gone up 40k since last June so we're hoping for a positive result viewtopic.php?t=79203[/quote] That sucks now I know what to look forward too viewtopic.php?t=79203[/quote] That's fantastic news about your land value!! Hopefully it all works out for you when it comes time I just thought once you got the house and land valuation done it wouldn't need to be done again as we are going with that bank. But the broker is telling me it will so I'm very confused viewtopic.php?t=82377 Our Glendale 45 build[/quote] Our broker contacted us Wednesday and said we'll start the loan process April. 3 months prior to our land titling. Then we'll finalise it June/July. He told us all the shortfalls from bank valuations and told us he'll continue to look at all banks until he finds the right one. He's going to try to get maximum loan capacity and also look into ways where we can keep some of our deposit for the extra provisions. We don't mind either way as long as we're covered for everything We have the utmost confidence in our broker he always keeps us updated, always available and he'll be targeting many banks not just one until he finds the perfect one that benefits us. Even though they work for M his priority is us. So hope YOUR broker shops around and looks for a better bank. Their is definitely one out there "perfect" for you! viewtopic.php?t=79203[/quote] Wow your broker sounds fantastic! I think the reason our broker doesn't want to go to another bank (and us as well) is because we've already paid the mortgage insurance to our bank, as we have owned our land for 2 years now. And if we apply to a different bank we would be up for that cost again. If only M got the contract right the first time then we wouldn't be in this situation viewtopic.php?t=82377 Our Glendale 45 build[/quote] Yes yours is a completely different situation. Hoping someone gives you the right advice on this and wish you all the best Glendale. Hoping if you do have 2nd valuation it would be much higher viewtopic.php?t=79203[/quote] Thank you unfortunately I doubt that very much as the first price was unheard of for our area. So we need to just take what we have now and hope for the best! viewtopic.php?t=82377 Our Glendale 45 build Yeah I don't know why I came to a forum. Place is full of wierdos/pedos thought internet may help but I suppose I'll try my luck with someone in person. Cheers. I tried… 0 6419 Need advice on the backyard plan above. Should I excavate and cut all of the dirt to level with the house slab or semi-excavate as per photo above? Both left and right… 0 24832 13 6607 |