Tuesday, 19 May 2015

We looked up too high!

Well.....things were looking up, but only briefly.

Received our bank valuation back today and they've undervalued the house and land by $34k!

My heart jumped in to my throat.....there is no way we can afford to make up that difference......$10 or $15k maybe, but $34k?? Not a chance.

So I'm doing what I do best today and that's panic.  Our contract said we had 45 days to get finance approval so now I'm starting to stress out, as we now have about a month left.  Our broker is talking to the bank (Westpac) today and putting together some options for us.  Hopefully he comes back with something helpful, but I'm not holding my breath.

I've been told by a few others who've built with Boutique to contact their finance company (Resolve Finance), as they were in similar situations and Resolve helped them out.  So this might be our next step, unless our broker can perform some magic.

When will the drama end?

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