Browse Forums Home Finance Re: CBA valuation on land came in 5k short 102May 22, 2009 1:38 am Sumit Beware of the bank valuations these days, when we bought the land last year value of the land came exaclty as the purchase price. 6 month later, when we applied for the contruction loan, They value of the land was reduces by $25K....and we end up paying more mortgage insurance. The value of land being reduced by $25,000 in 6 months? That's odd. Usually value goes up with demand not down. Where is the land? Re: CBA valuation on land came in 5k short 103May 29, 2009 12:09 pm This sounds really odd.. Your land value went down ?? Which estate is it? Re: CBA valuation on land came in 5k short 104Jun 23, 2009 10:34 pm We are about to go through the process with Westpac for a block in Williams Landing. 779sqm for $236,000. I am starting to get nervous hearing about some of the Valuations that have come back in other areas close by. Re: CBA valuation on land came in 5k short 105Jun 23, 2009 11:37 pm Tornado_ALIVE We are about to go through the process with Westpac for a block in Williams Landing. 779sqm for $236,000. I am starting to get nervous hearing about some of the Valuations that have come back in other areas close by. Let us all know how you go, it is a new area I wonder what the valuers will give you for it. Fingers Crossed. Re: CBA valuation on land came in 5k short 106Aug 15, 2009 9:40 am i bought a land in reserve tarneit for 160000 it got approved by bank and got full valuation. so i introduced my freind and he went and bought land 4 lots next to me and the land size is bigger than mine and it was 10k more than mine. the valuation came in at 30k short when we told the bank that how come my land got right valuation and the land 4 lots away and bigger area has 30k short, the dude didnt have any answer. any suggestions to what to do and whats also funny is that its the same bank and same valuer used for me. Re: CBA valuation on land came in 5k short 107Aug 15, 2009 10:34 am Zerosignal Tornado_ALIVE We are about to go through the process with Westpac for a block in Williams Landing. 779sqm for $236,000. I am starting to get nervous hearing about some of the Valuations that have come back in other areas close by. Let us all know how you go, it is a new area I wonder what the valuers will give you for it. Fingers Crossed. No issue. Bank valued it at asking price. Will know more again when they value the house and land together. I see other blocks around the area in the 600s selling for 250k Re: CBA valuation on land came in 5k short 108Aug 15, 2009 11:53 am Tornado when we got our house and land valued in williams landing they valued it at $100 less then the acutally build price. We had a bit of a laugh at the time and I asked our lender why they didn't just make it the same. He couldn't answer it. They always value on the conservitive side thou. We got a 592m2 block for 206k their selling for well above that now. We brought in may last year. So I'm pretty sure the land would be worth at leat 230k now looking at prices around the area. Total Breeze Air Conditioning and Electrical - Based in Melbourne http://www.totalbreeze.com.au Re: CBA valuation on land came in 5k short 109Aug 15, 2009 2:24 pm We were told to expect to pay 240 to 250k for 16 x 32 blocks (512sqm) in the next release when we were looking at buying from the next release. Look at the resale blocks coming up on realestate.com and it only makes you smile. We were VERY lucky picking up our block the way we did (nomination contract) paying the same price the previous owner did in August 08. They were desperate to sell ASAP and were only concerned with offloading the block without a loss and avoiding stamp duty. Re: CBA valuation on land came in 5k short 110Aug 15, 2009 11:56 pm Hi Williams Landing neighbours! I have a question regarding your soil tests and slab types. I'm in De Havilland (Stage 1) and getting ready to build, and I'm told I need an H class slab, which means a cost increase of $6,600 over an M class. I chased up the compaction report as the top fill is not deep and thought I might be able to have an M class, but the engineers are not being at all helpful. What types are others nearby needing please? Thanks, Posnow PS Who's hosting the first neighbourhood barby?? Shall we say first one with their house ready?? 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 7003 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 25755 |