Home  Getting Started Free Pre Approval |
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If you are getting ready or have already started to look for that perfect property you should consider getting a pre approval in place.
Just taking this simple step now can have a huge effect on the
end result and the experience you have of purchasing a property.
A pre approval in most cases is FREE to obtain and
does not carry any obligation to take the end loan. Most pre approvals will last 60 to 90 days with the
exceptions being longer. If you do not find a property in this time, yet
still would like to keep looking, it is much easier to have the pre
approval extended than to get the process started from the beginning.
There are a few main reasons why
every potential buyer should have a pre approval in place.
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1. |
Time
Saving - You may find your perfect property, however
most contracts will only have a certain time to settle. If you do not
settle on time it is common for contracts to have penalties. Even worse,
you find your dream home only to waste time arranging a pre
approval, then someone else who was prepared comes in and makes a
confident offer straight away. Goodbye dream home!
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Confirms Borrowing
Capacity - You do not want to exchange on a contract
only to find out you are not able to obtain the funding. Many people
believe they are a great lending candidate as they are earning well
etc., then find out some other aspect of their current situation has
ruled them out from the funds they need. Finding yourself stuck in a
contract you can not settle can be a very costly mistake.
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Motivated Real Estate
Agents - Most Australian property agents prefer to deal
with pre approved clients. This makes complete business sense for them
as they only then need to deal with clients that have the capacity to
borrow and who show they are serious buyers. The number one fear of any
sales agent and vendor is wasting time on a potential purchaser while
the real buyers go by. A pre approval shows you are not there to waste
time if the right property and right deal is found. You may even find a
pre approval will give you some competitive advantage in negotiating the
best price. A pre approved buyer is a quicker sale for both agent and
vendor so it is not hard to see why they would be attracted
to these buyers. |
If you are thinking of buying,
however you do not have a pre approval in place, please complete the
form below. We will then email you a quick and easy form to
gather some basic information. From this we can determine the best
options available to you from our extensive panel of lenders. We will
help you get started so you can look for a property with confidence.
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