..Rather put the bubbly on ice and get started with your home loan application!

If the property is sought after and well priced the agent will most probably continue marketing – just in case. Most offers have a continuous marketing clause.

Until you have accepted and signed a final quotation from the Bank your deal is not secure. Should the Banks decline you are not held to the contract because it did not come into existence. A double-bladed sword indeed but still in your hands to control. Your Bond broker will advise what documents are needed and from then on you are in a partnership to obtain the correct info through to the bond expert as soon as possible.

Delays can be eliminated if the Purchaser responds with the correct and legible documents as soon as possible.
The quality of the application will determine your rate and conditions and there is no option of submitting the information in dribs and drabs.
If you drag your feet with the bond approval process, a competing offer could be accepted and you could be given 72-hour notice to either waive the Bond clause or get a final grant in place.

Depending on the contract the competing offer will have to be a better offer ie: a cash offer or all the suspensive conditions of the competing offer will have to be met.
Deal or no deal… pop the champagne when your bond has been approved and you are sure you have the best possible deal!

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