Hi,
A friend of mine is purchasing a house off the plan for his PPOR. He said settlement is a few months away. however, he is getting told different things from lenders and I'm not sure what to advise him as I've never bought off the plan.
He is told by a few lenders they do a valuation off the contract and house inclusions and specifics for conditional finance approval and then do another val once complete in a few months for unconditional.
Then another lender is telling him they can't do a val off the contract and give conditional approval and only do a val once complete for unconditional.
What normally happens?
A friend of mine is purchasing a house off the plan for his PPOR. He said settlement is a few months away. however, he is getting told different things from lenders and I'm not sure what to advise him as I've never bought off the plan.
He is told by a few lenders they do a valuation off the contract and house inclusions and specifics for conditional finance approval and then do another val once complete in a few months for unconditional.
Then another lender is telling him they can't do a val off the contract and give conditional approval and only do a val once complete for unconditional.
What normally happens?