Nobody goes to the supermarket without their wallet but many sign a property contract without arranging finance first.
It’s true, we see it regularly. Nobody would (deliberately) embarrass themselves by arriving at a check-out with no money, put it’s common to see contracts signed worth 100′s of thousands of $’s without having arranged finance in advance. And don’t me started on pre-approvals….(see my previous blog).
Sometimes it’s the person offering the contract and sometimes it’s the lure and dream of home ownership that get’s in the way, but it happens. Often.
So what to do ?
- talk to a professional – FIRST.
A solicitor or conveyancer for contracts, a mortgage broker for finance options.
“One lender or bank does not an option make.” Yoda. Jedi Master.