In one line valuation approach query

Hi everyone. There is something I am keen to get a clear answer for once and for all.

Scenarios:

1. If I have DA Approval for Construction and Subdivision only for an attached Duplex, will the bank use in one line valuation (2 homes on one title valuation approach) to value this? i.e. I haven't subdivided with LRS yet , I only have DA approval. I think the answer to this is as long as they share a common wall i.e. attached in some form, it will always be valued as in one line leading to an haircut.

2. If I have DA Approval for Construction and Subdivision only for detached Duplex, will the bank use in one line valuation (2 homes on one title valuation approach) to value this? i.e. I haven't subdivided with LRS yet , I only have DA approval.

I got of the phone with CBA credit team, they are not too sure either... which is really scary.
Anyone have experience with other banks?

The goal here is to get a land get DA Approval for Construction and Subdivision for 2 free standing homes i.e. detached duplex without coping a haircut in value. Then post construction , I will formally register it with LRS and have 2 different addresses.

Thank you

 

Until you get separate titles, you'll take a haircut - if you can subdivide before construction, then your numbers will look better.

Bank will need to consent to the release of the current security to get new titles.

 

its funny how CBA believes that having DA for subdivision, 2 different building contracts, 2 free standing homes plans will be enough not to get in one line valuation even if they are not registered with LRS yet.

 

It's possible to get it valued on an 'as if complete' basis rather than 'in one line' if you have the subdivision approval yes
*depends on the lender*

 

thank you so much

which banks allow me to get them valued as 2 seperate valuations if I’m doing detached duplex ?


the goal is to get DA approval for construction and subdivison for 2 free standing homes without the in one line valuation method .


When you say it’s possible to get it valued as if complete , does the bank decide that or the valuer ?