We have had a finance broker from Country Wide finance broker ring us suggesting that if we get a buyer for our units we may be able to offer them finance to approved purchasers? How does this work?
Thanks can anyone shed some light!!
He is suggesting that he will get them finance as their broker. So if they wish to buy, he then tries to find them a loan.
I guess it is something you can add to your advertising but nothing really unusual or special in what he is offering. Any lender or broker can do that for you.
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Sampson, this can be handy! If you’re selling through an agent, the agent can use it as leverage to potential buyers, by stating that if they ring “Bill” and are elegible for finance, he will present their offer to the vendor (yourself) in the best possible light. They dont necessarily have to proceed with Bill’s finance.
Helps weed out the tyre kickers and keep you close to the transaction.
I make it a condition on when I sell a property that they must be qualified prior to offers being presented. I being a LFB in WA cannot qualify them myselves due to obvious conflicts of interest, but I have a colleague test their elegibility and integrity before we entertain negotiating the offer.
If selling privately, it may be a negative as you must eyeball the potential buyers directly and this can be an intimidating condition that they may not like, whereas through an agent you have that intermediary who is seen as “independant” by the purchasers.
Overall I think it’s a smart move, provided your broker complies with disclosure laws in your state and adheres to privacy regulations.
Hope this helps,
RobRob Whyte
Certified Mortgage Consultant MIAAPrincipal & Licensee
The Mortgage Gallery
e [email protected]Winner 2004 National Office of the Year!
Accredited with over 27 lenders nationally. 15 years experience in commercial and residential lending, ask me anything, if I dont know, I’ll find out!
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