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 loan with an LVR of 80% due to some defaults. I do have the additional 10% to settle this.
My issue now is, that i have found out that the builder is now clearing out the remaining few units for $42,000 less than what i initially paid for mine.
With buiding expected to finish in 8 weeks and a valuation to take place then, im very concerned because i do not have any further funds to cover this.
What are my options?
What can I do?
Your thoughts on this would be greatly appreciated.
Thanks.
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 loan with an LVR of 80% due to some defaults. I do have the additional 10% to settle this.
My issue now is, that i have found out that the builder is now clearing out the remaining few units for $42,000 less than what i initially paid for mine.
With buiding expected to finish in 8 weeks and a valuation to take place then, im very concerned because i do not have any further funds to cover this.
What are my options?
What can I do?
Your thoughts on this would be greatly appreciated.
Thanks.