Sign Contract
Sign Land Contract, subject to finance, usually 14 or 21 days to obtain formal approval. Settlement will usually be 30 or 45 days from date of signing.
Pre-Approval
A commitment from your chosen lender to lend the required funds, subject usually just to valuation.
Preliminary Agreement
Your new home, price and start date are secured. Your New Home Consultant will also complete and lodge your new home application.
Valuation
A copy of your contract is sent to your lender to arrange for a valuation to be completed.
Valuations Ordered
Newbridge Financial will arrange for a copy of your New Home Proposal and land contract to be sent to your bank, so that a valuation can be ordered on your new home.
New Home Proposal
Your new home, price and start date are secured. Your New Home Consultant will also complete and lodge your new home application.
Formal Approval
Once your solicitor receives confirmation of formal approval, they will inform the vendor/developer. Your land contract is now unconditional.
Formal Approval Formal Approval Issued
Newbridge Financial will liaise with your lender to ensure all conditions of your finance approval have been satisfied. A copy of your formal approval will be sent to your builder and solicitor.
Contract & Interior
Your New Home Presenter will deliver your New Home Proposal, a fixed price for your new home. This is used in conjunction with your land contract to complete the valuation.
Mortgage Documents
Your lender will send out mortgage documents once you have received formal approval. You may need a JP to verify your signature.
Pre-Approval
A commitment from your chosen lender to lend the required funds, subject usually just to valuation.
Application Lodgement
Your builder submits your Building Application to your relevant Council and developer for covenant approval.
Authority to Commence Construction sent to builder
Before construction begins on your new home there are two final requirements:
1. Your bank requires a copy of Council approved plans.
2. Your builder requires an Authority to Commence Construction from your bank. Newbridge Financial will arrange for both these conditions to be met.
Construction
Your Building Supervisor programmes and oversees the construction of your new home.