Browse Forums Buying Land Re: Elements Estate, Truganina 39May 13, 2016 5:24 pm Quote: Ha-ha amen to that. However I did hear that the banks undervalue the land when you get a mortgage by 20-30k. Has anyone experienced this? I was speaking to a real estate agent who said that land in truganina jumped by 20-25k between Nov 2015 & Jan 2016. If you secured your lot before then you'll be fine. But yeah apparently it's quite common for the bank to undervalue by around that much. I'm keen to hear how the people from the section 1 release have gone. Re: Elements Estate, Truganina 40May 16, 2016 1:43 pm I'm in stage 6 and put my deposit on in about August. My initial bank valuation came back 25k less than I had paid for it. I'm hoping with the recent growth, by the time it titles and is revalued, it will come back about spot on, if not a little higher I was super worried about it at the time as the low valuation really hurt our LVR, but fingers crossed it'll be ok by the time it titles. |