Annie_H

How did things go?

I believe there is an application fee of 5,000 and if you dont purchase or your not approved they don't refund.

Hi Serena, I am a licenced real estate agent in Queensland and the rules are different from NSW. If buying at auction there are no conditions you have bought your seld a house once the hammer goes down on your bid and the auctioneer says sold! In queensland the agent does the contract unlike NSW. I always recommend that anyone looking to purchase should always get preapproval from the bank first, however I would recommend gowing through a mortgage broker. There is no point looking at property if you dont know how much you can borrow, as this can be waisting your time. As for a finance clause id recommed 14 days, which is pretty standard. Building and pest the same 14 day, always get your own. Remember there is a 5 day cooling off period from date of contract and remember you dont have a contravt until all parties have signed.when signing a contract. I'm happy to give you more tips as a buyer, so feel free to contact me. Regards, Anne Harris