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We put an offer on a property yesterday and the agent wants us to exchange on Monday or Tuesday. Is it wise to exchange without the full finance approval?
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Hi Georgie,
Good luck with the purchase.
Did you sign the offer "subject to finance approval with XYZ Bank"?
Also was your offer placed within 3 days of a scheduled Auction?
There are a numbers of factors at play here. I would not execute contracts if you don't have full approval.
Please feel free to add further information here and I will be happy to guide you
Regards
Scott
Hi Scott,
Our application is with CBA but we weren't expecting to find a property so quickly. We really like this house and don't want to lose it but are concerned about exchanging contracts without the approval.We have asked for a 5-day finance clause but not sure the agent will agree. Should we insist on the finance clause ... is there any way the property can be taken off the market? Thanks, Georgie.
Hi Georgie,
If the Vendor accepted your offer it should be considered "Under Contract" and the agents shouldn't be taking offers from anyone else.
Would you like me to call you?