So no surprises there.. the 'apparent' 2nd and 3rd valuation came back at the same price as the 1st valuation which is of course cheaper than our actual house & land cost.
LMI will be built in to our loan. It would have been nice to have avoided this one but for now we have to deal with it. On a positive note we hadn't allowed for the State Revenue Office's "Principal Place of Residence" rebate so that helps ease the pain!
Monday, 24 March 2014
Tuesday, 18 March 2014
Land is Settled - The Ball is Rolling!
Everything went through smoothly for land settlement, and we received notification by 3pm that day.
Now for our finance company to order another property valuation as the first came back $40k less than what it's costing us. If it comes in too low again.. we'll have no choice other than to pay Lender's Mortgage Insurance which we were really hoping to avoid. Somehow I don't think the odds are in our favour with Cranbourne East typically being a budget suburb. If only the suburb had been renamed to Casey Fields already, we would have had a better chance!
Now for our finance company to order another property valuation as the first came back $40k less than what it's costing us. If it comes in too low again.. we'll have no choice other than to pay Lender's Mortgage Insurance which we were really hoping to avoid. Somehow I don't think the odds are in our favour with Cranbourne East typically being a budget suburb. If only the suburb had been renamed to Casey Fields already, we would have had a better chance!
Monday, 10 March 2014
Monday, 3 March 2014
Land Title
March 4, 2014 - Land is Titled
I stumbled across a few emails today between our solicitor and bank advising that settlement is to occur on March 17, so less than 2 weeks until we're land owners! Now the ball can really start rolling!
I stumbled across a few emails today between our solicitor and bank advising that settlement is to occur on March 17, so less than 2 weeks until we're land owners! Now the ball can really start rolling!
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