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