Why Is A Preapproval Necessary?
With spring just around the corner, Australia’s property market is gearing up for its busiest selling season. CoreLogic data shows that Sydney sees over 20% more homes on the market and over 10% more sales compared to winter.
Applying for a preapproval is essential for several reasons:
Set Realistic ExpectationsPreapproval helps you understand your borrowing capacity, ensuring you focus on properties within your budget. This saves you time and avoids the disappointment of falling in love with homes that are out of reach.
Streamline Your SearchBy narrowing down your options to properties that fit your financial parameters, you can make your house hunting process more efficient.
Act Quickly when you find the right property, having preapproval means you’re ready to make an offer or bid with confidence. Most of the bank’s requirements are already met, reducing the risk of last-minute complications.
Strengthen Your PositionPreapproval gives you an edge in negotiations or auctions, demonstrating to sellers that you have the financial backing to follow through on your offer.
Contact us at Artemis Finance to arrange your preapproval. We’ll compare a range of lenders and loan options to ensure you can bid or negotiate your property purchase with confidence and peace of mind.