Hi there,
I am in a bit of a dilemma. My offer on a new IP was accepted and I put down subject to finance 14 days on the contract as I did not have the approval from my bank at that stage.
My 14 days will be up on Friday and tomorrow I still need to organise for a valuer to get access to my investment property and then get the info to the bank via my mortgage broker. I am worried that the bank approval may drag on past the 14 days.
What happens if I do not have the bank approval by the set time? Can I get an extension or is the property straight back on the market?
Bronwyn.
I am in a bit of a dilemma. My offer on a new IP was accepted and I put down subject to finance 14 days on the contract as I did not have the approval from my bank at that stage.
My 14 days will be up on Friday and tomorrow I still need to organise for a valuer to get access to my investment property and then get the info to the bank via my mortgage broker. I am worried that the bank approval may drag on past the 14 days.
What happens if I do not have the bank approval by the set time? Can I get an extension or is the property straight back on the market?
Bronwyn.