Browse Forums Home Finance Re: Understanding the KDR finance process 2Mar 11, 2015 3:51 pm M Y C U S T O M C O R A L B R O N T E 43 ...............Kitchen! 16 Nov 2016 https://forum.homeone.com.au/viewtopic.php?f=31&t=79581 Re: Understanding the KDR finance process 3Mar 11, 2015 5:15 pm Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Understanding the KDR finance process 5Mar 11, 2015 8:53 pm Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Understanding the KDR finance process 7Mar 11, 2015 9:08 pm Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Understanding the KDR finance process 8Mar 11, 2015 9:17 pm So much to work through! Thanks again becjarrettdalton... We'll need to have a more detailed chat to the builder as we get a bit closer... Re: Understanding the KDR finance process 9Mar 11, 2015 9:24 pm But it's so much fun!! Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Understanding the KDR finance process 10Mar 17, 2015 9:20 pm I can let you know the process we went through with our builder and bank. * got pre approval with bank so we knew rough budget * had tender with builder * signed contract and paid initial deposit - funded ourselves * went through selections process, council approval etc * demolished house - funded ourselves * got final contract price including all selections variations and got mortgage sorted with bank. * we also included some additional amounts into the mortgage for landscaping. These were seperate to the builders contract and we needed to provide quotes for the additional work we wanted paid for out of loan. This included our driveway. Re: Understanding the KDR finance process 11Mar 18, 2015 5:42 am kim_kdr thanks for sharing that info... exactly what I needed. Were any "exit" clauses available to you in your contract? I'm all about worse case scenario and "what if"... thanks again. Re: Understanding the KDR finance process 12Mar 18, 2015 6:18 am Our Bank cautioned us not to sign a building contract until we had the post build valuation done by them and had loan pre approval. Once we had that we went ahead. Re: Understanding the KDR finance process 13Mar 18, 2015 6:33 am Thanks again... So when you say you signed your contract (at step 3) you had a rough guide on what your building alterations would cost you... More or less. Re: Understanding the KDR finance process 14Mar 18, 2015 7:13 am Sorry TheBigHouse, I thought kim_kdr had replied!! Re: Understanding the KDR finance process 15Apr 14, 2015 3:01 pm TheBigHouse Our Bank cautioned us not to sign a building contract until we had the post build valuation done by them and had loan pre approval. Once we had that we went ahead. The contract is not 'subject to finance' as is a loan for the purchase of an existing residential property? Re: Understanding the KDR finance process 16Apr 14, 2015 7:22 pm No it wasn't but even if it was I think the advice would have been the same. Sent from an elegant mobile device using Tapatalk. The Blog for my new house build is http://customaussie.blogspot.com.au and my forum thread is at viewtopic.php?t=74944 Re: Understanding the KDR finance process 17Apr 15, 2015 1:47 pm TheBigHouse No it wasn't but even if it was I think the advice would have been the same. Sent from an elegant mobile device using Tapatalk. The Blog for my new house build is http://customaussie.blogspot.com.au and my forum thread is at viewtopic.php?t=74944 yeah, fair enough... Re: Understanding the KDR finance process 18May 07, 2015 9:20 am So the BigHouse or anyone else, you were able to get enough info from the bank with unsigned contract, plans etc (all our plans are DA approvdd already) to know the loan would be approvdd before signing the contract? And you got that info then signed the contract? Re: Understanding the KDR finance process 19May 07, 2015 11:50 pm Yes. Give the bank plans, contract, specifications you will build to, how much you want to borrow, and let them do a valuation. Post that they can give you (or not) pre approval on the amount you want to borrow. Then sign. Call the bank you want and ask them about their individual process. Re: Understanding the KDR finance process 20May 08, 2015 6:39 am We also allowed a dollar amount in our contract for selection upgrades. We tried to include as much detailed pricing in the contract as possible. The builder had us do selecrions after the contract and finance is based on the contract amount so we had an allowance included. BLOG: http://www.ourphoenix38.blogspot.com.au H1 THREAD: viewtopic.php?f=31&t=70454 ask the surveyor for clarification would be the logical approach 1 20339 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 61492 We were lucky in that our old house was so small (86 square metres) compared to the new house, they were able to take enough readings around the old backyard house before… 8 38117 |