Corrupt Builder (Subject to Finance)

Discussion in 'Legal Issues' started by albanga, 9th Aug, 2016.

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  1. Colin Rice

    Colin Rice Mortgage Broker Business Member

    Joined:
    9th Jul, 2015
    Posts:
    3,184
    Location:
    Perth
    This is the best approach but not possible with all lenders.

    Interestingly I got an upfront val done on a potential purchase this week. Property has been on the market with 2 different agents over a 12 month period and the are asking in the low 600s. We couldnt find any comarables that came close.Val came back at 550k so we will be using that as leverage in the negotiation process with the REA. The only time you are happy with a "low valuation".

    The rule is pretty hard and fast with inline vals being calculated as current property value plus building contract.
     
    Colin Rice, 7th Sep, 2016
    #21
    Perthguy likes this.
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