Hi guys,
I'm attempting to take the plunge of buying my first IP.
I have a preapproval for a loan of 200k with a deposit of 20%.
However, the property I am thinking of purchasing is going to be held as a mortgagee auction - I have been told that if the bidders will have to make an unconditional offer when they bid as it is an auction.
As a result I called up my mortgage broker and he was told that it should be fine as long as the bank approves the property... should I listen to him? (I don't want to get shafted)
I am aware at this stage (2 weeks before the auction) that I should find a solicitor or surveyor. What is the difference between a solicitor and surveyor?
Please help somersoftians
Cheers
I'm attempting to take the plunge of buying my first IP.
I have a preapproval for a loan of 200k with a deposit of 20%.
However, the property I am thinking of purchasing is going to be held as a mortgagee auction - I have been told that if the bidders will have to make an unconditional offer when they bid as it is an auction.
As a result I called up my mortgage broker and he was told that it should be fine as long as the bank approves the property... should I listen to him? (I don't want to get shafted)
I am aware at this stage (2 weeks before the auction) that I should find a solicitor or surveyor. What is the difference between a solicitor and surveyor?
Please help somersoftians
Cheers