Hi just curious to know is anyone else has had this
issue.
My partner and I are in a sticky situation where we
are buying a home and land package.
Everything has been a disaster and error upon error
and there is no one apologising for mistakes made.
Anyway issue we have presently is the fact the
developer changed minds and now won’t
settle land until the bank approves the construction
loan. We were firstly asked that the land to be settled
by mid last year before moving into construction loan.
This was a split contract for land first then construction.
The contract stated this factually as well.
There was nothing that allowed for the developer
to change the process but they did. Now they won’t sertle
And our Bank has already approved land loan. Come
Mid November and our conveyancer investigates why
Nothing has come through for the land.
Titles are all ready to go but the developer was holding off.
Our bank won’t approve construction until we settle with land.
The developer won’t settle now until construction side has been approved
This has caused major upset with bank and the
decision madeBy the developer to hold off has
ensured our bank approval had expired. We now
Have to get another appraisal and valuation of our
block Again and Send through all the appropriate
application Papers again. This has held us up for
6 months and we hoped this would have been
smooth sailing considering we have been royally
screwed over by the land agent in the beginning
which only showed her out to be disloyal and
misleading liar as well!!!
We are worried the bank won’t approve the
construction due to all the delays.
What can we do???
issue.
My partner and I are in a sticky situation where we
are buying a home and land package.
Everything has been a disaster and error upon error
and there is no one apologising for mistakes made.
Anyway issue we have presently is the fact the
developer changed minds and now won’t
settle land until the bank approves the construction
loan. We were firstly asked that the land to be settled
by mid last year before moving into construction loan.
This was a split contract for land first then construction.
The contract stated this factually as well.
There was nothing that allowed for the developer
to change the process but they did. Now they won’t sertle
And our Bank has already approved land loan. Come
Mid November and our conveyancer investigates why
Nothing has come through for the land.
Titles are all ready to go but the developer was holding off.
Our bank won’t approve construction until we settle with land.
The developer won’t settle now until construction side has been approved
This has caused major upset with bank and the
decision madeBy the developer to hold off has
ensured our bank approval had expired. We now
Have to get another appraisal and valuation of our
block Again and Send through all the appropriate
application Papers again. This has held us up for
6 months and we hoped this would have been
smooth sailing considering we have been royally
screwed over by the land agent in the beginning
which only showed her out to be disloyal and
misleading liar as well!!!
We are worried the bank won’t approve the
construction due to all the delays.
What can we do???