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How does GRV work in terms of what they will lend? Let's say for example a 370k build contract and the property will rent for 500 a week. What is the rough calculation they will use?

Hey Stevechal, I think your friend may have missed some key things in his estimations. When he says subdivided for 7k that may mean plans and permits approved and maybe subdivision but he now needs engineering drawings and then connection of all utilities. Has he confirmed his storm water? No...

I am quite curious on this myself. Will the bank lend based on the finished value or based upon the build contract. An example with my block which I am soon to subdivide. Lot 1 has an existing house and valued at around 500k. Lot 2 has has plans and building quotes are around 380k. The...