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?
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03-03-2012 22:05 #11Senior Member
- Join Date
- Oct 2011
03-03-2012 22:08 #12
03-03-2012 23:36 #13Senior Member
- Join Date
- Oct 2007
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.
04-03-2012 03:12 #14
04-03-2012 06:51 #15
04-03-2012 07:01 #16
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.
04-03-2012 07:18 #17Senior Member
- Join Date
- Jan 2008
What state do you live in?
04-03-2012 09:03 #18
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
05-03-2012 12:53 #19
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!
05-03-2012 13:09 #20
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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