PropertyInvesting.com | Delamar | Activity https://www.propertyinvesting.com/members/delamar/activity/ Activity feed for Delamar. Mon, 13 Apr 2026 09:07:34 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 978e18d530ae64f955fc0c6af4415950 Delamar replied to the topic Do i have enough equity? is there a 20% buffer? in the forum Perhaps its time to ask my https://www.propertyinvesting.com/topic/4398154-do-i-have-enough-equity-is-there-a-20-buffer/#post-4613388 Sat, 26 Dec 2009 23:02:30 +0000 Perhaps its time to ask my dad for a family pledge to avoid LMI? It will only be needed while we finish off selling our current house.

]]> 3f00025fc72a2eae5fb363f2050bd14f Delamar replied to the topic Do i have enough equity? is there a 20% buffer? in the forum Ah, thats what i thought, https://www.propertyinvesting.com/topic/4398154-do-i-have-enough-equity-is-there-a-20-buffer/#post-4613386 Sat, 26 Dec 2009 12:01:09 +0000 Ah, thats what i thought, thanks for clearing that up. So that means a LMI of about $5k :(

All because the ppl who have a contract on PPOR have failed for finance :( 5K in the toilet.

]]> 2f0178698e920f3002796d743ad208f1 Delamar replied to the topic Do i have enough equity? is there a 20% buffer? in the forum Valued by the bank. I think https://www.propertyinvesting.com/topic/4398154-do-i-have-enough-equity-is-there-a-20-buffer/#post-4613384 Sat, 26 Dec 2009 11:17:22 +0000 Valued by the bank.

I think my terminology is what wrong. There is an 20% buffer, its the fact that the bank will only lend 80% of the value.

Can someone do the math for me please correctly.

PPOR is valued at 425K
We owe 293K

We wish to buy a block of land for $309 + stamp duty. The block of land has been valued by the bank at 309K.

Please…[Read more]

]]> 34f5270b4e9eedf576d6218f6281ae86 Delamar replied to the topic Help needed. Sold house but purchasers have gone past finance date in the forum Finance https://www.propertyinvesting.com/topic/help-needed-sold-house-but-purchasers-have-gone-past-finance-date/#post-4613360 Thu, 24 Dec 2009 22:03:13 +0000 Its in SA. And no they have not terminated the contract they didnt even notify anybody until i asked. They are trying to sell one of their houses and obtain bridging finance. Isnt bridging finance even harder to get than a normal loan?

]]> 6c7405ffa33d207b7ae2235d6141b3f3 Delamar replied to the topic Help needed. Sold house but purchasers have gone past finance date in the forum Finance https://www.propertyinvesting.com/topic/help-needed-sold-house-but-purchasers-have-gone-past-finance-date/#post-4613356 Thu, 24 Dec 2009 21:37:05 +0000 Special conditions
(clause 14)

SC1 Finance
SC1.1 This contract is conditional upon the Purchaser obtaining, on or before the date specified below, approval in writing for a loan in the amount specified below (or such lesser amount as the Purchaser may accept) at the interest rate specified below and otherwise on such terms and conditions that the…[Read more]

]]> 185992d9e3cbef438d526643401082e9 Delamar replied to the topic Help needed. Sold house but purchasers have gone past finance date in the forum Finance https://www.propertyinvesting.com/topic/help-needed-sold-house-but-purchasers-have-gone-past-finance-date/#post-4613351 Thu, 24 Dec 2009 10:49:11 +0000 You should seek legal advise asap. Usually finance clauses have an expiry date well before settlement. If you haven’t notified them that finance was not approved then you may be locked in to the purchase. Depending on which state you are in you may have just 14 days to settle if they issue a notice to complete. If you don’t settle in the time they…[Read more]

]]> 5c901b6b42acff569027ae5136cd8737 Delamar replied to the topic Help needed. Sold house but purchasers have gone past finance date in the forum Finance https://www.propertyinvesting.com/topic/help-needed-sold-house-but-purchasers-have-gone-past-finance-date/#post-4613350 Thu, 24 Dec 2009 10:46:39 +0000 why would i need legal advice on a standard contract? Subject to finance is pretty standard. But the events that have followed, such as not notifying us that there is a problem with finance before the due date, and signing the memo of transfer before finance is arranged is not standard, and i would have thought a breach in contract to the point…[Read more]

]]> b91536de0c68460807b7f97c75e8a9cd Delamar replied to the topic Help needed. Sold house but purchasers have gone past finance date in the forum Finance https://www.propertyinvesting.com/topic/help-needed-sold-house-but-purchasers-have-gone-past-finance-date/#post-4613348 Thu, 24 Dec 2009 10:14:29 +0000 Ok, i just opened my mail. I have from my conveyancer a “memorandum of transfer” which has been signed and witnessed by the purchasers. Its just waiting for our signatures. Its a form T1 if that means anything. Surely this is a breach of contract?

I cant understand how i can loose so much, but they dont loose anything. I have no protection but…[Read more]

]]> 1df5b83cc7d1b594986fec1fc903d24c Delamar replied to the topic Help needed. Sold house but purchasers have gone past finance date in the forum Finance https://www.propertyinvesting.com/topic/help-needed-sold-house-but-purchasers-have-gone-past-finance-date/#post-4613346 Thu, 24 Dec 2009 09:08:23 +0000 what about the fact that they did not notify us that their finance is not approved by the cut off date? 22nd of dec? Is this a breach of contract meaning we keep their deposit and recover costs?

The also put “pre approved finance” on the offer form which was obviously false.

]]> 1c1426539499ece469e5af6a84dc0578 Delamar replied to the topic Help needed. Sold house but purchasers have gone past finance date in the forum Finance https://www.propertyinvesting.com/topic/help-needed-sold-house-but-purchasers-have-gone-past-finance-date/#post-4613344 Thu, 24 Dec 2009 08:15:38 +0000 ive probably lost all the other interested parties by now because its been a month since signing. When does their deposit become mine? I cant understand how these people can sign, pay a deposit, then when they can get finance they can just walk away no penalty. Mean while, i have lost other potential cashed up buyers, marketing, rent possibly my…[Read more]

]]> db1f0c3006532a1fc120f1d6b7ab8e98 Delamar replied to the topic Help needed. Sold house but purchasers have gone past finance date in the forum Finance https://www.propertyinvesting.com/topic/help-needed-sold-house-but-purchasers-have-gone-past-finance-date/#post-4613342 Thu, 24 Dec 2009 06:33:05 +0000 damn, mods move to help needed forum :(

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