All Topics / Finance / refinancing??

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  • Profile photo of kosmicgirlkosmicgirl
    Member
    @kosmicgirl
    Join Date: 2004
    Post Count: 8
    November 17, 2005 - 4:35 am

    I bought a house in country WA last January with a fantastic idea to subdivide and build another house.
    I should’ve checked the zoning because I’ve just found out I can’t do that.
    There hasn’t been much capital gain in this town for years but this year there has so I’m thinking the property should be worth more. Now I’m thinking I’ll spend a little bit on the house and sell it… I don’t have the money to spend though.
    Can I refinance and use the capital gain to improve the property and then sell?
    How do I do that? I am behind on a few financial things so I’m scared I wont be able to borrow more.
    What’s involved in getting the property valued?

    Any tips are greatly appreciated!!!

    Kosmicgirl… feeling clueless [blink]

    GKD

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913
    November 17, 2005 - 4:48 am

    Hi K.G,
    In order to release further equity in the property your lender will carry out a valuation on the property, check with your lender on the fees and charges associated with this, as they will vary between lenders.

    You mentioned you are behind on few things, if thats the case then it may be best to wait until you have caught up on these issues before applying for further finance/debt, cheers.

    Regards
    Steven
    Mortgage Broker

    Mobile Mortgage Market
    Ph: 0402 483 216
    [email protected]
    http://www.mobilemortgagemarket.com.au

    PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.

Viewing 2 posts - 1 through 2 (of 2 total)

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