Finance Approval

Is it necessary to make a Contract subject to finance if a Buyer has pre-approved finance?

Yes! Pre-approval of finance does not mean that a Buyer will necessarily be able to obtain unconditional finance approval. Often when finance is approved it is subject to conditions such as satisfactory valuation. It is important that a Buyer is protected in the event that they cannot obtain unconditional finance approval and can terminate a Contract on that basis.

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(ALSO READ:)
Land Tax Under Contract
Buyers Guide
Sellers Guide

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To learn more about Foreign Buyer Approval today, contact OwnIt Conveyancing on 1300 553 750.

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Andrew Francey

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Andrew has over two decades experience in high growth fast moving consumer goods, agribusiness and professional services. Supporting the OWNit team to deliver on client expectations, and implementing processes to scale the organisation, is a key focus for Andrew.

Andrew is a C-Suite leader with Chairman and Board experience.  He has formal qualifications in Business, Applied Finance and AICD Company Directors Course.

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