If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Final stage mortgage drawdown how complete is "complete"

DesperateDan · 2024-04-18 19:14:59

We're on our last stage of drawdown and builders want money. We're missing a staircase which we have paid a deposit on and should be installed within the next 3 weeks. And some skirting in a hallway :D The valuation report had the figure of 390k for the complete building. Our final drawdown will be 46k. Without the…

Options

18-04-2024 8:14pm

#1

DesperateDan

Registered Users Posts: 1,582 ✭✭✭

Join Date: August 2010

Posts: 1497

We're on our last stage of drawdown and builders want money.

We're missing a staircase which we have paid a deposit on and should be installed within the next 3 weeks. And some skirting in a hallway :D

The valuation report had the figure of 390k for the complete building. Our final drawdown will be 46k. Without the staircase, what happens when the valuer comes around again? Staircase had 3k allowed for it on the initial costings form for AIB.

Is there a risk that the property could be undervalued because it has no stairs, and therefore that 46k could be reduced?

0