Aaron WhybrowGeneral Manager, Strategic Mortgage Broker

Buying a Home - Next Steps

Name: Buying a Home - Next Steps
Uploaded: 2019-10-03T01:13:04Z
Channel: Aaron Whybrow
Description: Aaron Whybrow walks through what happens after you find a property: contract checks, pest and building inspections, and getting financial approval. In…

3 Oct 2019

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Aaron Whybrow walks through what happens after you find a property: contract checks, pest and building inspections, and getting financial approval. In Sydney, you typically pay 0.25% to hold the property while you do due diligence. Financial approval usually takes the longest.

Questions this video answers

Aaron Whybrow (Diagnostics and Finance).

0.25%.

Contract checks, pest and building inspections, and financial approval.

So you found a property. Congratulations, it's Aaron from Diagnostics and Finance. What's the next steps? Most of the time as a broker, I get asked the question, can I get my approval done and everything done before I enter into a contract. And there are some places in Australia that you would be able to do that. A lot of areas in the regional areas will enter into a contract, accept an offer, and then you have to get everything approved before you enter into the contract. There are areas in Sydney where you would need normally enter into a 0.25% holding deposit to be able to reserve that property for you to do the due diligence on it, whether it's contract checks, financial approval, pest and buildings inspections. So congratulations, if you found a property that's awesome. Make sure you do your due diligence with the contract, the pest and buildings and the financial approval. Out of all of those three, the main one that takes the time is the financial approval. Hey, it's Aaron from Diagnostics and Finance. Have a great day.