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Hey Rolf, Do you have a quick example of a circumstance?

If you were not to get pre approval and made a successful bid at auction then what happens if you are unable to get finance? For example let us say the broker was not thorough and there was a credit problem? I understand this is where the purchaser would likely lose their deposit, what...

Thanks for clarifying! Just on point 2 so long as the contract is written correctly, such as "subject to finance" "If finance cannot be obtained the borrower must be returned all money paid"? If written something like this and finance falls through then the buyer would recieve all deposit and...

Hey finance gurus, I just had a couple of questions regarding the subject. 1- What are the pros and cons of pre approval? Also do you need to meet certain criteria before the banks will pre approve a loan? (Apart from the obvious lending criteria, my mate mentioned he did not have enough...