Brief outline of property Advertised property was residential and shop/dwelling Property valued at purchase price and now lender will not lend ANYTHING for said property. Agent and conveyancer both adamant that property is residential. Valuer did have issues at first as they kept saying it was a commercial building etc. We have now discovered that the ESL and water rates have not been charged as residential but commercial. It is only stated on invoice as property number. We have been in contact with legal professionals (find out more next week)but wondering if a contract could be made void due to this reason??? If a contract is void due to this issue how much of deposit may we see back?? (We paid 10%) Thanks
Have you been in touch with a mortgage broker about getting finance with another bank? Regards, Jason
Property in SA Zoning does say residential and council has been charging previous owners commercial rates on bills related to property Mortgage broker is looking into someone else as well now but we could be back at square 1 it seems. I did make some of my own enquiries with a bank and they did say they would have question marks over lending as well due to the info we found. We had been looking at borrowing 70%
