Words can barely Describe the last few days!

Where do I start....... yes Grey hair, that's a good 1.

The last few day's has been mentally tough, and some very tough decisions have been made, with the possibility of some tough decisions to pass after this week.

Firstly the Valuation still has not come back from the External party, due to being swamped with work.
On Monday morning we were advised that certain documents had not been passed to the Valuation company, however this was sent to them Last Thursday night.

Was then informed that it would be an internal valuation with-out needing to go on site. This changed as of today where they needed to send someone onsite to take photo's of our dirt.

So a 48HR turnaround on valuation has now turned into 4 Days with a possible 48HRS more to go. Let's Not forget my deadline was for Tomorrow Morning. (the part where this was URGENT, and a top priority to look into, clearly got that attention.....NOT)

So the tough decision was to take a massive gamble on the land coming in on target for the valuation, before the price increase could be actioned by the vendor (10k-40k increase based on the new release of land). So we paid the 10% deposit for the land, and commenced Exchange.

I am praying everything comes in fine with the valuation, and for the Land I am very comfortable with this, however the construction is the 1 that has my concerns.

We have 2 loans, 1 each for the Land and Construction, so the safest bet is the land with-out a doubt, so we took the risk to place the deposit, knowing that the equity in that block will secure a Loan from another Lender without much issue if the current valuation fails for the entire borrow amount for both loans. (I pray this is not the case).

So at worst we have to re-submit the loan for the land with good equity in that block now, and also knowing our borrow capacity has been totally approved gives a little comfort.

So tomorrow is another day and hopefully we get a call to say it's all good. Otherwise it's off to find another loan.

My advise, if you have a put and call option on your block, make sure everyone is transparent with the expiry date and what extensions you can honestly get added to this to enable the full finance process to run it's course.

I will hold my tongue on who to point the finger at here, but the common feedback from everyone involved is pointing to 1 company for sure, and that's added more fuel to the fire of the opinion I had already had with them during this process.