Search results

Kim, When thinking about buying, put yourself in the seller's shoes. Suppose you are selling a property for $350k. You have been running some open for inspections. Remember, you have no tenants, you are paying the mortgage every month Every now and again, you need to go in and...

It's probably ok - what the vendor looks for is the magic "unconditional" word. Cheers, The Y-man

Another factor is your monthly saving capability. It's another reason for long settlements - because if you can save 5% of the deposit per month, a three month settlement can make all the difference if you fail to get a 95% lend but securing a 80%. Cheers, The Y-man

1 and 3 are for the same reason. There is a much higher possiblity of a 95% lend getting rejected compared to an 80% or 60% Your mortgage broker should be able to advise on your probability of getting the loan. Ask him/her - what are the chances of getting 95%, 80%, 70% etc Cheers...

I assume unit being "apartment" or "flat", not "villa", "townhouse" or "homette". Agree, but not for the reason you stated. Because it is: 1. relatively easy to check yourself (smaller) 2. chances are, the bits you can't check, the B+P inspector won't be able to either (eg roof top, under...

I usually cut a cheque for 10%. Cheers, The Y-man

No - again, generally the same as buying at auction, then failing to settle - the actual cost would most likely be loss of the deposit (?). We bought our PPOR after it sold at Auction, but the buyer failed to settle. Cheers, The Y-man

Good point - whenever we made offers, we had access to enough (emergency) funds to allow a 80% LVR (or better) if required. Cheers, The Y-man

I think every property we have bought (except the very first one) has been on unconditional offers :eek: - or at least finance unconditional (conditional only on building inspeciton). Yes, you have to have a good idea that the loan will be approved. We usually do the buidling inspection prior...