Sunday, April 1, 2012

Site start date set!

It's been a roller coaster level of stress this past month.... and I thought after contract signing we will just sit back and wait for the next stage.. I was wrong! It didn't went well, with our mortgage broker informing us about low valuation of our land (VERY huge amount below its price, hello?!?) and us forking out 6-digits to go ahead with the build with big LMI! We almost gave in to 95% LVR. I had to go directly to our bank to get another opinion (different bank from what the mortgage broker recommended) and requested for valuation... I got some vital info from the bank which I was surprised our mortgage broker did not inform us about. To make the long story short, we dropped the mortgage broker and dealt directly with our bank.. We are very pleased that the valuation returned on our favor with our land and house valuated at the same price as they are! We were given a loan amount that is manageable for us to proceed with the build... In this process, we almost changed house and end the contract! Perhaps it is meant after all for us to build Baltimore 40. Our unconditional approval from the bank was given last week and we're just waiting for some documents for signing. We are also waiting for the construction drawings from Carlisle Homes. Our CLE also informed us that our site start date is set on 13 April 2012! Excited much!

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