Browse Forums Home Finance Re: Construction Loan......Help 2Oct 19, 2010 10:29 pm Jason Building a modified Platinum MKII with Blueprint Homes. House Plan Contracts Signed: 18/10/2010 Prestart 21/10/2010 Sandpad: 14/1/2011 Slabbed: 27/1/2011 Brickwork: 15/2/2011 Roof: 18/3/2011 Re: Construction Loan......Help 3Oct 19, 2010 10:39 pm Building the Ascent 3000 with Burbank http://www.burbank.com.au/HouseDetails.aspx?houseId=82 viewtopic.php?f=31&t=39638 Re: Construction Loan......Help 8Oct 20, 2010 7:19 pm Builder: Dennis Family Homes House: Hartley Facade: Provincial Suburb: Lyndhurst Moved in! http://cynash.blogspot.com Re: Construction Loan......Help 9Oct 22, 2010 8:15 pm Our Acreage Build The Lakeview Lodge - Beechwood Homes 01/04/10 YES 2010 - Deposit paid 23/09 - PCI CANCELLED 28/09 - PCI - will it happen.-18 months later 07/10/11 - ITS OURS..WOOHOO Re: Construction Loan......Help 11Nov 16, 2010 12:53 pm It's often the case that builders add a 'prestart selections allowance' to the building contract and credit that later directly to the client upon completion if the money isn't used. The banks don't have any issues with this either, so long as you can afford the contract value. The only exception may be someone like Keystart - but they want everything completed anyway. Re: Construction Loan......Help 12Nov 19, 2010 9:06 pm Just incase anyone wanted to know what happened in our case - commbank came through with the goods, we refinanced our investment property and land and drew on some of the equity of the investment place to give us 82k in the bank for all the things we needed (and hubbys new work car -which was 30k) so we are all very happy - inc the builder who can now get on with building the house. Our Acreage Build The Lakeview Lodge - Beechwood Homes 01/04/10 YES 2010 - Deposit paid 23/09 - PCI CANCELLED 28/09 - PCI - will it happen.-18 months later 07/10/11 - ITS OURS..WOOHOO The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.… 2 19096 Hi, you've probably already resolved this, however, Commbank will probably pay the funds to you after you send evidence the work is done regardless the change in the quotes. 1 35321 How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 11916 |