So I've been lazy over Christmas and the New Year, like everyone. So I'm sorry about that.
I'm also currently organising my loan documentation through my broker. The plan is to get my loan application approved prior to the unit being completed and then the two week settlement period won't be stressful because I'll be ready to go as soon as they are.
Just a tip for all those people who are planning on buying a place. Once you sign that contract the only person who is going to drag their feet is the bank. The only person who can afford to drag their feet is the incoming mortgagee. So make sure - and by that I mean have something in WRITING - that your lender has unconditionally approved your loan and that you are READY to go. It is what will delay you. It is what will delay settlement - unless a lawyer screws up or the outgoing mortgagee throws a hissy fit (which they shouldn't because they should get a payout).
And NEVER sign a contract without talking to your lawyer. There are some nasty things hidden in contracts of sale. Don't ever assume that people are good or that they wont screw you over. They will and they won't care. Look out for yourself. Get the right people in your corner and it will matter.
I'm also currently organising my loan documentation through my broker. The plan is to get my loan application approved prior to the unit being completed and then the two week settlement period won't be stressful because I'll be ready to go as soon as they are.
Just a tip for all those people who are planning on buying a place. Once you sign that contract the only person who is going to drag their feet is the bank. The only person who can afford to drag their feet is the incoming mortgagee. So make sure - and by that I mean have something in WRITING - that your lender has unconditionally approved your loan and that you are READY to go. It is what will delay you. It is what will delay settlement - unless a lawyer screws up or the outgoing mortgagee throws a hissy fit (which they shouldn't because they should get a payout).
And NEVER sign a contract without talking to your lawyer. There are some nasty things hidden in contracts of sale. Don't ever assume that people are good or that they wont screw you over. They will and they won't care. Look out for yourself. Get the right people in your corner and it will matter.
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