Thursday, August 16, 2012

Day 60 - Half Way There

We are up to 60 days since we paid our tender fee, so halfway through our pre-build process.  Do I feel any closer than we did 60 days ago?  I guess so seeing we have our DA plans.  To throw a spanner in the works our lovely CSO Simone is off sick at the moment.

To keep the build process moving, I have sent off our signed tender, signed variations (to date) plus the DA plans to the bank so that a valuation can be ordered.

I am quite concerned about the valuation. When we had a valuation done on our last house last time it came back $35,000 less than we sold if for only a few months later, plus it was only valued at $30,000 more than when it had been previously valued 18 months prior and we had spent nearly $60,000 on it between valuations.  We were told at the time that banks are very cautious at the moment and valuations are low.  Not good for us when we want the bank to contribute as much as they will without charging us LMI.  My mortgage person is confident that we wont have any trouble, but until they come back with an unconditional YES, I wont be celebrating

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