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I think this is possible, he mentioned something similar. We are looking to get land ASAP though given we've just sold, we don't want the market to increase too much before we buy again. However, if we don't get the land in time for our settlement we will discuss the trust account idea...

They don't HAVE to. But the bank is willing to keep our current loan open and then 'top it up' with our new land/building loan. If we don't have settlement on the same day then our sale proceeds go into a bank trust account, the loan is closed and a new one open= LMI and opening fees charged.

Thanks for all your advice! I think you're right. 15k in the scheme of things is little. If we got one of the other blocks in the area, we would be looking at major cut and fill and/or bringing services up the driveway. Whilst we have 90 days to 'wait' for something else to pop up, we also don't...

pinkboy, We did that 2 weeks ago, response was '375k, not negotiable'. handyandy, a previous interested party asked about this possibility according to the realo and it was knocked back.

We are looking at 5 subdivided blocks in East Melb to build on for our PPOR. Two of the blocks are 400m2 the other three are 350m2 (and one has an inactive easement in it). We are interested in one of the larger ones however our builder has had a look and can give us a design for any of the...