The Power of Pre-Approvals: How to Dramatically Increase Your Negotiating Power and Save $Thousands When You Purchase a Home
The secret to successful real estate investing (your owner occupied property is an investment) is to purchase below market value. Many people think that they can buy at market value and sell above market value. Wrong! You need to buy wholesale and sell retail!
We are currently in a full blown Buyers Market and even better, interest rates are plunging and the First Home Owners Grant (FHOG) has been increased to $14000 and $21000 for construction. This is the best news we have had in a long time for people wanting to purchase a home.
In this market I suggest that buyers pick out about 10 properties that they like and then proceed to make ridiculous offers on each of them. You're bound to have one seller more desperate than the others. Your ridiculous offer is even more likely to be accepted if you have a pre approval in place, especially in this tight credit market. You have every thing to gain and nothing to lose with a pre approval!
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Advantages of Pre-Approvals
- Free of charge.
- You are not obliged to accept the finance.
- Finance is subject only to the valuation of the property being purchased.
- Valid for around 3 months (easily extended)
- Enables you to negotiate a much lower price than someone without finance approval.
- Or gives you a much greater chance of having your offer accepted.
- Enables you to go shopping for a home with confidence.
- Final unconditional finance approval is much faster as the only thing that needs to be done is to value your property.
- Allows you to swoop quickly if you come across a bargain.
How to Get a Pre-Approval
This is simple. Just fill in the form below and one of our mortgage consultants will be in touch with you to get the ball rolling. Once your paperwork is in place, a pre-approval takes around 4-5 working days, and then you can go shopping for a home!
We cater especially for first home buyers. Go to our First Home Buyers page to see all the benefits ABC Mortgages can provide for first home buyers.