Spring time is when more properties hit the market for sale.
So if you’re looking to buy, are you ready make an offer? Here are our Top 3 Tips for buying property in spring time….
Tip 1 – How much can you borrow?
This seems obvious but some people don’t know their maximum borrowing capacity before they start looking for new property.
When you know how much you can borrow, you should also set your maximum purchase price. This will help you at auctions so you don’t overbid during the stressful auction process.
Tip 2 – Get it in writing
When you know how much you can borrow, a verbal assurance from a broker or lender is not enough.
Borrowers should get their Pre-Approval in writing from the lender. If you’re using a mortgage broker, make sure you get the lender’s pre-approval letter.
Tip 3 – Conditional approval
A conditional approval is even better. This means the lender has checked your documents, like pay slips, bank statements, monthly expenses and proof of genuine savings. Conditional approval are essential before bidding at auction.
How we can help you
At Craig Tracey Lending we make sure you have your pre-approval or conditional approval in writing before you make any offer.
In fact, we go a few steps further than other brokers – we work with you to set your maximum purchase price so you don’t overbid at auction or when you make an offer.
Why don’t you contact us now to discuss this further…..