Some obvious stuff but a decent read that some might find useful http://news.domain.com.au/domain/real-estate-news/peace-of-mind-before-you-sign-20110923-1knrc.html
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: info@passgo.com.au
Hi Jamie,
I notice the article didn't really touch on finance issues.
To me OTP finance is one of the greatest 'worries' with OTP and the longer the OTP the more complex it becomes.
Totally agree – I flagged that on another forum.
A lot of people go into OTP purchases without knowing the risks involved in terms of financing the deal.
The first thing those buying OTP should do is speak with a broker/bank about their situation so they can be reasonably confident that they can secure finance upon completion.
That said though, nothing's ever guaranteed. By the time settlement comes around, the borrowers circumstances may change (employment, etc), bank policies could change and the property might be undervalued…..
Things to ponder.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: info@passgo.com.au
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