Sat, 2008-04-05 02:56

Weeks or months may have passed and a property you are very interested in owning available to buy. Usually you will have carefully inspected the property yourself on more than one occasion and the asking price is within your borrowing capacity. It is a good idea to make a call to your finance broker to check that nothing has changed. For example, if your home loan near the maximum you are able to afford, and interest rates have increased there my be a need to reduce your loan amount due to reduced affordability. Many potential purchasers will have already obtained a copy of the contract for sale prior to making an offer and had the contract of sale checked by their legal expert. Some careful property purchasers even engage a bank valuer at their own cost to ensure the purchase price they are thinking of offering is within range. This is section is not to be used as advice!! It is a general guide only and your legal advisor such as a solicitior or conveyancer should be consulted at this stage if not done so already. Rules, regulations and procedures vary from state to state in Australia and a legal property conveyancing representative who specialises in your geographic location must be consulted. Assuming the property is available for sale by private treaty and not up for auction. Make an offer to purchase for the amount you are able to afford and are prepared to pay to either the vendor or the vendors agent. Buying at auction for first home buyers should be approached with extreme care and planning. If the offer is within range the vendor or vendors agent should respond and indicate if the offer might be accepted, rejected or further negotiated. Assuming that an offer to purchase has been accepted by the vendor we move along to the lenders valuation.