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Hi alcudi, Thanks for that. Certainly i will check them out. The accountant in Melton is a lot closer to me, so i will look him up and maybe have a chat to him and see how that goes. I appreciate you taking the time in responding. Thank you

Hi everyone, I hope I'm posting this in the right area, if not please kindly tell me so. I'm currently looking at getting involved in another franchised business and am looking for a new Solicitor who understands Franchising, and Trusts. Wondering if you guys could throw up some...

Well spoke to the builder's contract coordinator today and she asked me to email her so she can have a meeting with her manager in regards to my situation. She also confirmed receiving my email and will get back to me as soon as a decision has been made. I can only wait and see now.

Interesting enough, it could have been a friend of our family. The couple purchased an OTP property in a new suburb adjoined to Melton West. They had a valuation done and it came in $30k or so lower. They panicked, contacted their solicitor, who in turn contacted the builder and the matter was...

The lender is not willing to get a valuation done until the property is completed. (There are valuation firms that rubber stamp such purchases and you may be ok) If i told you who the builder and lender is, would you know if they use a valuation firm that rubber stamp purchases like mine? I...

Being a 16 unit development, and having sold some recently at a discounted price would be the way the valuer would look at this. Im assuming this would be part of their procedure in obtaining a value.

Hi there Rightvalue, I remember meeting you at property investment gathering many years ago with members from this site. You have a wealth of experience and knowledge in this area. The area is Tarneit. Thanks

I would be able to refinance in 12 months and get a much better deal. Again hoping things dont get really bad.

I wish i had other assets. I prefer losing $42,000 as i feel i can recover this quicker and with less sweat. So im liable to be sued after all of this? Its unfortunate that the builder has built most of the suburb and thus control pricing. But i guess at the end of the day its what people are...

Edmond, Have thought of all of those. Family struggle day by day so no. Credit card, not going to happen with credit defaults to my name. Personal Loan, I guess same as above. Not comfortable borrowing from friends as 5k loan may take a while to repay considering my loan repayments will be...

Hey Tone, I will certainly be bringing that up. I just hope that "if" they do accept their interest rate is not so much higher than what i already have to. Thanks

Terry. Using your example. If i payed $320,000 and the valuation comes in $42,000 less = $278,000 80% LVR on this would be $222,400 and this is my maximum, they will not lend me more than 80% $320,000 - $32,000 = $288,000 $288,000 - $222,400 = $65,600 I have a further $35,000 = $30,600 is my...

I will be throwing all/any ideas at them to see if they can assist. Your suggestion is surely worthwhile giving a go. It may just work. Thank you, it is what i need.

Terry, The only clause is the 18 months completion date. But with an expected 8 weeks to complete this does not look good in my favour.

Hi Rixter, I will most definitely be speaking to the builder and see if i can negotiate something but coming up with the required funds of $42k in 8 weeks will be very difficult. This is based on their current clearance sale price. Not likely im going to get anywhere near it.

Hi Aaron, The loan pre-approval is with a non conforming lender and 80% is it. I have tried another non confoming lender and the LVR was the same for my situation. I dont have a credit card and dont see how i would get a personal loan considering the loan is already at a higher rate plus...

Hi guys, I need help/advice. I purchased a property off the plan 13 months ago. It is a townhouse development of 16 in the western suburbs of Melbourne, through a well known builder. I payed 10% deposit then (32k). Now. I have been able to obtain pre approval (subject to valuation) for a...

Hey Rolf, Most Legal Pracs I know have said, it cant be done. I only know two of them by the way lol. Maybe its time for a new Solicitor.

I thought only the person who created a default against you could have it removed and not Veda? From everything I have read, Veda will not remove any default unless instructed to do so from the entity who reported the default. Do you think you would have any luck with having paid defaults...

The costs and timing sound about right. They charge per default. I have yet to see any Company that offers a no result - no fee service. They usually want some money upfront, then after looking at your defaults in more depth and feeling confident of success they will want more. This is the...