If you want to be successful buying property you need to get organised.


Because sellers, and their selling agents, like the confidence of knowing that buyers have their ducks in a row and that the offer they are accepting is likely to be successful.

When a seller accepts an offer on a property it means that the buyers and sellers are in a legally binding contract and the property is off the market and unable to be purchased by other buyers. The most common reason for an accepted offer not proceeding and the contract coming to an end is the buyer failing to obtain finance. No agent wants their seller’s property to be off the market for several weeks, particularly if there was strong interest in it, only for the offer to fall over and to have to re-market the property after the peak interest has passed.

Whilst we don’t expect all buyers to have finance pre-approval, and indeed some mortgage brokers actively advise clients not to seek pre-approval, we do want to know that buyers have spoken to a bank or broker and confirmed what they can confidently borrow. And if we can confirm the same with the bank or broker directly prior to presenting your offer (without them revealing too much information obviously!) the likelihood of it being considered seriously increases also.

Buyers who aren’t organised when it comes to finance will typically find themselves pipped at the post by buyers who are, or having your offer rejected in favour of continuing to market the property.

So if you’re looking to buy, speak to a mortgage broker or your bank and clarify what you can borrow. Not only will it give you a great guide as to what property price range you can confidently look at (and it might be that you don’t want to borrow as much as the bank will lend!), but you’ll also be able to give the selling agent and sellers confidence in your offer too.

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And when it comes to banks and lending, they often have different rules, which is why we find dealing with an experienced broker can be better than dealing direct with the bank – they’ll know which one is likely to give you the best rates and have the most flexibility with lending depending upon your circumstances.

Don’t have a broker? Give me a call or send me a message, we’ve got contacts with a number of experienced brokers that would be happy to help.

Happy house hunting!

Photo by Lindz Marsh on Unsplash

Natalie Hoye is the Founder and Licensee of Red Fox Property Group – a boutique agency doing things differently in the suburbs surrounding Beaufort Street. We call it ‘real estate alchemy’: a genuine blend of science and intuition, marketing and magic, head and heart. The Red Fox Way. And we’d love to chat with you about your local real estate needs. Call us now on 0405 812 273.