All Topics / Help Needed! / Guys and Gals I need your help!!!!
I have just had my IP valued at 40K less than I had valued it against a list of 23 hourses sold in the same suburb over past 4 months. This is mainly because our IP is underging renovation and the reno’s werent quite finished when we found this great deal for the next IP….With the reno not being finished the valuation was lower than expected…..Silly really considering the brand new kitchen and carport are due for installation next monday!!!!!!!buts its too late…we had to get the valuation done to purchase IP No2……ITS A CATCH 222222222222222
THis hurts as we needed the equity to do a reno on a new IP. THis means that we now just have enough equity to cover the purchase costs and the reno $$$ will have to come form elsewhere! THIS IS WHERE I NEED YOUR HELP….
Has anyone been in this situation before…..The only way I can think to get the money for the reno now is to:
A. credit card,
B. Personal loan
C. ?????????revaluate once the renos on IP 1 are finished ( in a fortnights time can you believe it!!!) TIMING REALLY SUCKS O.KPROBLEM IS: my mind is now blocking the positive thought and replacing them with negative thoughts about having to get personal loand for reno’s etc… IS my mind right? Should I be worried…? Jsut because our figures have changed… the deal still remains good.. almost CF+ in Melb….once reno’s are done……..
HMMMMPH%#%#)%)I*[grrr]
Snowflake
Option C.
revaluate once the renos on IP 1 are finished in a fortnights time.
It’s only Two weeks.Cheers
Steven
Mortgage BrokerMobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.auPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Hi Steve,
OUr offer on IP2 has been accepted (good deal).. We sign stuff next couple of days…….We have 60 days settlement, is this enougth time for bank to revalue in fortnights time???Will they be approachable to this????
P.S THANKS FOR YOUR REPLY!!!!!! My ARGHMM^#$^%($ is turning to[inlove]
Snowflake
plenty of time, just ask your bank.
Terryw
Discover Home Loans
Parramatta
[email protected]
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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