Browse Forums Building A New House Re: [SA] Building in Field River Estate, Trott Park 58Sep 22, 2010 4:26 pm miss_m Hi all, Unfortunately my partner and I were the ones's who lost the block on Tischendorf Street from stage 1 in July. Finance was approved, house colours and tiles all picked out, landscaping organized, but last minute the council wouldn't approve our plans either. As our finance required the plans to be approved, we quickly lodged more with split levels and all retaining walls less than a meter and denied again! Even after all of the sellers delays, we were a bit disheartened when they wouldn't give us even a few more weeks back in July to fix the plans or change our finance to just a land loan, and to hear that some peoples settlement is in December...ouch! Not sure I understand.. how did not having a house plan approved mean you lost the finance and the land? Who was the Bank? We bought our land entirely seperate to building the house, that's another painful mortgage all of it's own Re: [SA] Building in Field River Estate, Trott Park 59Sep 22, 2010 4:37 pm Hi Miss_M Our block was a fallen over finance scoup. But not from Stage 1. Ours was a block on Tischendorf from Stage 2. The block from stage one was the 719sqm block? Thats very unfortunate for you. The banks are being a pain in the butt at the moment. We have felt it, having to take drastically less for our house (we had to sell) so we could get approval for the build. The bank wouldn't loan purely on our house equity. Which wasnt fun either. Re: [SA] Building in Field River Estate, Trott Park 60Sep 22, 2010 7:31 pm Hey. Yeah, it was the 719sqm block. We paid a broker who said to go with Homestart...and it was a construction loan, not a land loan so without the approved house plans, we couldn't get the land. We hadn't bought or built a house before so we made sure we had alot of people involved to make sure things worked out...which they didn't. Knowing what we do now, if we went for a straight land loan, everything would have gone through. A lot of those Covenants are put in place at the time the Developers are still involved and marketing a certain look and they get ignored or expire after a time. If the… 1 3086 |