CBA comes through for quick handover!

I received a call not long ago and was told by the Mortgage Officer that because the original home loan was for the house with floors that the remaining funds can't be released.

The good news is that the valuer recommended that because of what has gone on with the contract and that I have already sent through the invoices for the carpet and tiles, blinds and screens, and the solar electricity, that those funds and the final payment to Allworth be issued and that a final valuation inspection be completed after the floors go in. THANK YOU MR VALUER!!!

I am so grateful and lucky because potentially had the invoice for the floors not already been submitted the final payment would have been postponed until I had done so. But this means the final payment will be made by direct deposit and because Allworth holds their account with the CBA the funds will be through within 24 hours and at the earliest 9am tomorrow morning!

All round I am learning that anything essential not included in the contract be organised and locked in as early as possible particularly if it involves anything to do with your Council or the issuing of the occupation certificate.

The driveway and entertainment area need council approval before they can go ahead. This can take up to two weeks at Camden Council. But I rang and asked and I can have a 5.5m wide driveway so it will accommodate two cars in the drive, so this is good news.

The interim occupation certificate requires the landscaping done within 60 days.

I'm thinking there is nothing else, but this remains to be seen.

So I have sent an email to Allworth, as it is after business hours, and asked for arrangements to be made so handover happens by the end of this week and the fencing to be unlocked ASAP thereafter and removed by Monday. Fingers crossed!

PCI set for Monday 18 October!

The practical completion inspection has been set for Monday lunchtime. The specific time is in flux as my independent inspector arranges a convenient appointment with the SS.

Conversation with BM yesterday revealed that SS was asked to make contact at least once at the end of last week and then again this week, so I hope Allworth does something to establish a better culture of communication amongst its team.

Good news however is that this is the home stretch and pending CBA completing an inspection as soon as is humanly possible, i.e. this week, and the payment goes through on or by Monday, the house keys may be handed over at Monday's inspection. Allworth would remedy any defects in the coming week but this would allow the floors to be laid as soon as possible. Otherwise handover is likely to be Wednesday afternoon.

Still waiting on the Commencement Letter 3

I received a phone call from Allworth yesterday asking where we are at getting the letter of commencement when usually it should have been available within a few days. Read earlier posts if you do not know the answer to this. The problem however is that a price rise is scheduled for 15 June, being next Tuesday, which will affect the price by approx $2,000. Don't you love it! They've mucked us around a number of times to date, but when things happen outside our control we get penalized.

I let the Mortgage Broker know that the letter needs to be issued this week as Monday is a public holiday and then Tuesday is the first day for the price rise. He called me last night to let me know that CBA has prioritised my file for today and that the letter should be issued by close of business. He also asked would I be able to collect the letter from the HO in Parramatta and take it to the HO of Allworth, which is also in Parramatta, as the builder's copy will probably go in the mail and will probably not be actioned until Tuesday. So I've agreed to do this and currently I am waiting for a phone call to head off, but I am guessing it might not be until tomorrow.

Back on track

Despite a few obstacles we are back on track. Almost 2 weeks ago now my MB advised that CBA had withdrawn the loan for building the house, which left us with a block of land, lands on foot, a contract requiring us to have moved in by late September and NO MONEY.
So after feeling like the earth had fallen out from beneath me I collected all the paperwork and shot of an email to the MB with what I thought were good reasons to suggest that CBA were being unconscionable. Once I calmed down I realised that my over-reaction may ultimately lead me to cutting my nose of to spite my face and sent another one simply asking for the reasons and retracting my demand that an appeal be lodged immediately.
Well the good news is that one week later the MB emailed to say he had spoken with CBA and it was all worked out, so the loan was back on track and a new application was no longer necessary. But the CBA continues to have some concerns about the delay in commencement and want what documents are available now to be lodged as a sign of good faith from Allworth.

I called Allworth and spoke to our CSO and asked if she would be able to comply with this. She explained that typically the stamped plans, copies of insurances, construction certificate and fixed price contract are not provided to the mortgagor until the contract was signed and all documents provided as one lot. I suggested that because this was a bit to a back to front effort in any event that maybe something could be worked out to satisfy CBA. She is going to look into it.
Whilst I was on the phone I asked where everything was up to as the geo-tech report was provided 2 weeks ago and previously she had told me the engineer's report took 2 weeks, and the construction certificate then takes 1 week. She advised that the engineer's report has not yet been received but she would follow this up.
Since I had this conversation yesterday and I didnt hear back from her today, I will call tomorrow to get an update. But fingers crossed we will be in next Saturday week to sign off which will start the 20 day countdown and hopefully have a start date no later than the week of 7 June 2010.