How about having your finance in place? However you plan to finance the acquisition, you have to ensure your financier is aware of your plans so that he or she can move quickly when asked. As a rule, you will need to putdown five to ten per cent of the purchase price as a deposit on the exchange of contracts. The balance is paid upon completion. It is possible, although rare, to exchange within hours of seeing the property. If you require a mortgage or financing, it is essential that this be agreed in principle before you start looking for a property and that you have a broker who can organise swift approval of the mortgage when it is required.
Posted on: Thu, 22 Aug 2013 18:15:06 +0000