Browse Forums Home Finance 1 Jun 30, 2017 11:07 pm I've received a PM from an anonymous poster (so I cant reply to it) regards a partially build Henley home (assuming its in VIC?). The question asks if a valuation can be done prior to completion - the specific comment was did the house need to be complete and have an occupancy certificate issued before the valuation could be done. Without knowing all of the details, the answer is its not impossible to get a valuation done as what we call "as if complete" if you have the build details, detailed plans and specifications - build contract even better but I doubt you would have this. I'd like to know more about why you are being told it cant be done - perhaps the land is unregistered but even so if builders are accessing it it must be identifiable. If you are in Melbourne I would love to point you to PLC I've spoken with Tom and he is a good guy. Best of luck with your build and apologies I couldn't reply directly - system won't allow a response to anonymous poster Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Henley home, partially built- not Advice - Anjan 3Jun 30, 2017 11:50 pm Then I cant see any issues to having it valued now, unless - and this is really extraordinary - the builder won't let anyone in. What documents do you have for the build? Plans? Specifications? Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Henley home, partially built- not Advice - Anjan 4Jun 30, 2017 11:51 pm Yeah. I have got plans and inclusions. I think contract will have everything related to land.. I think builder will allow bank for valuation. It's my broker said he can't valuate until fully finished. Re: Henley home, partially built- not Advice - Anjan 5Jun 30, 2017 11:53 pm Yep, agree. Cant see any reason you cant have a valuation done now so you can go unconditional. The one thing, your approval may still expire if the build doesn't finish on time, but, your broker can also work around this. If you need help I'm happy to but again PLC is in your state. Feel free to shout out for help! Best of luck Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Henley home, partially built- not Advice - Anjan 6Jun 30, 2017 11:56 pm If I get an unconditional loan with around contract sale price, I would bother less about finance clause. Hopefully it goes well. Thanks for help Bec. Will shout to Plc if needed. Re: Henley home, partially built- not Advice 7Jul 03, 2017 10:22 am Hi Anjan, Bec mentions a partially built home? Was it started by one builder and now you are looking to finish it off with a different one? Anyhow, she is right, the valuation can be done before it is finished, especially since you have all the relevant documents handy so I don't know what your broker is on about? Maybe they don't do many construction loans? What you really want to do is try and get the valuation done for the land and construct before any loan is applied for. That way you know if it stacks up before applying and you don't get a hit on your credit file for no reason if it doesn't. If you need any help, then by all means let me know. Cheers, Tom Thanks for your reply! All valid points and I agree with you on many of them. I am in QLD, any recommendations on a construction lawyer would be helpful 3 2996 DIY, Home Maintenance & Repair We purchased a 1960s property that is on timber stumps mostly, and a newer section is on concrete stumps. We had a building inspection initially and they reported some… 0 13645 Hi All, we are starting to think of building with Masterpiece Builders in Victoria, has anyone had any feedback or experience with them 0 14614 |