Land purchase... it's getting serious

topic land purchase: I want to buy a piece of land for €62,000 + additional costs. The additional costs amount to about ~€6,000, making a total of €68,000. I have a total of €70,000 equity (basically everything combined that is available as "cash"), of which I only want to put €50,000 directly into the financing and keep €20,000 as a reserve, for the kitchen, and in the end also to have some left over.

Can I still buy the land now before a financing commitment, let alone an application, has been made (application/signature bu in April/May 2015), and then take back €18,000 (68,000-50,000) again when the money for the house is released?! That way I save interest for a few months and have more time until the interest-free provision expires.

and when the money for the house then flows, should I take out 18,000 euros (68000-50000) again?!

You mean like in the past, when the builders also financed their Mercedes? No! No bank will probably go along with you taking out money for various things (whatever does not belong to a house financing).

Before our house purchase, I attended a real estate acquisition seminar (a few basics can’t hurt). They said clearly and unequivocally: first get the finalized financing contract in your pocket, THEN the notary contract. You can revoke a financing contract with a 14-day notice if the purchase doesn’t go through. You cannot revoke a purchase contract. Looking for financing for a property already bought but not yet paid for is always a risk. It’s less about creditworthiness, which will have been clarified in advance. Rather, it’s about the fact that banks can demand any interest rate if you urgently need the money. The motto is "take it or leave it." Whether they actually do that is another matter, but the bank then holds a much longer lever.

You mean, back then when the builders used to co-finance the Mercedes? No! No bank will go along with you taking out money for miscellaneous things (no matter what, that don't belong to a home financing).

so that should at least work if you apply before buying the land and include 18000 euros as the land price?!

You mean, like we used to, when the builders used to co-finance the Mercedes? No! No bank is going to go along with you withdrawing money for various things (no matter what, that don’t belong to a home financing).

Why? If the land is worth 62k and, say, a 180k house is built on it (i.e. total value 242k), and a 200k mortgage is taken out on it, then that is a little over 80% loan-to-value and should go through.

Thank you for your answers :). A clause will be included in the contract stating that the financing should be secured within 2 weeks. Otherwise, I can withdraw, but I must pay the notary fees. This is acceptable to me, as I intend to buy anyway.