Do I need finance approval?

The simple answer is yes, or that you are certainly in the process of doing so. The reason being is that agents and also the sellers of the property that you are trying to purchase want to know that you’re in a position to be able to move forward with purchasing that particular property.

This is because, if they do say yes to your offer, the property is removed from the market for up to 14 to 21 days while you’re going through the process with the banks to receive your finance approval.  Already having finance pre-approval provides reassurance to the sellers and puts you in a much stronger position for the sellers to accept your offer.  

A great way to obtain finance pre-approval is through your bank, or a trusted mortgage broker can also help you find the best loan to suit your needs.