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  1. #11
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    You have already confirmed finance by signing the contract not subject to finance.

    You hand your cheques over at settlement, in exchange for transfer documents & release of any mortgages etc on the property.

    Do you have a solicitor or conveyancer?

  2. #12
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    Thanks guys.!

  3. #13
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    It is to late now but you should always include 'subject to finance' even if you have the cash to protect yourself should something unexpected happen.

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    Quote Originally Posted by louellyn View Post
    It is to late now but you should always include 'subject to finance' even if you have the cash to protect yourself should something unexpected happen.
    Definately.

    If you NEED to get out of a contract though - form 1s are almost never completed correctly and with legal advice you could use that to get out.

  5. #15
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    Quote Originally Posted by louellyn View Post
    It is to late now but you should always include 'subject to finance' even if you have the cash to protect yourself should something unexpected happen.
    This - just because you have a pre-approval on the loan there is always the possibility the bank valuation doesn't add up which could effect your finance.

  6. #16
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    So true about preapproval.
    I would say though if you need to extend your settlement date you usually can. Just have your solicitor put a request in writing to the vendor. We increased out settlement date twice last year due to the bank losing our paperwork!!!!!! So our vendor agreed to extend settlement by just over a fortnight in the end. So it can be done.

  7. #17
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    What state do you live in?

  8. #18
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    We will find out tomoro of loan approved. And we have enough ad back up if we cant borrow as much as we need. Will let u know

  9. #19
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    Just wanted to let everyone know that our finance has come through for the loan on our house. Phew.I think its a good idea is people are warned about this having no subject to finance clause. The real estate did not tell us that it had no subject to finance when we signed the contract.Some over the other posts from people may explain it a bit better than me. Were we supposed to write it on the conditions wehen we first put in offer? Thanks guys for all your support. And thank god it all worked out ok in the end!

  10. #20
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    When you put an offer in, you include it in your conditions... ie. we would like to put an offer in for $699,000 with 60 day settlement, subject to finance, pest and building inspections.

    Then it will be included in your contract.

    Always say subject to finance even if you have pre-approval or even approval.


 

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