If you are an investor and you are looking for a completed property approaching settlement within 90 days, one of the most important things you have to do before putting your name down on the contract is to go to a mortgage broker and obtain ‘Conditional Finance Approval’.

It’s at NO cost to the purchaser and it makes it easier for the purchaser to take over any
potential ‘fall-overs’ in a development approaching settlement.

Note: the ‘conditional approval’ last for 90 days but if you cannot find a property that meets your expectation within this period, you can always go to the broker and all you have to do is to resubmit a few docs and you will get another extension. No dramas at all!

But please do not do this for a off-the-plan purchase. It’s of no relevance at all.