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Bond Pre-Approval for Home Buyers

bond pre approvalGetting a bond pre-approval before you go shopping for your home is the the very best way to negotiate from a position of strength and when making what is likely to be the biggest investment of your life, the position you want to be in right from the outset.

With a bond pre-approval by the banks you are effectively walking in to a negotiation with fist full of cash. You know exactly how much the bank is willing to lend you for your bond and the seller has no idea how far to push you. He also knows, or at least his agent will know that as the holder of a bond pre-approval certificate you are a very serious buyer and not just a tyre kicker.

So to set you off on the right path, use bond originators to collect the documentation required by the banks. The originators will then prepare the documents for submission to the various banks, follow up on the progress, negotiate the best possible rate for you and then come to you with the bond pre-approval criteria from the various banks.

Always read the offers presented by the banks, not all of them will be the same rate and some may even offer reduced conveyancing fees or other benefits to get your business. One thing that is always a good one to check and is very simple to get pricing on is the Bond Insurance. You will know within minutes if the cost of the bond insurance is better or you can save a bit every month on your bond.

Either way, when you are armed with a bond pre-approval, you will receive the very best service from any of the estate agents you use as there will be no doubt about your ability to have your bond approved. As I stated above, a bond pre-approval is as good as a fist full of cash when you are buying a home, so use the high ground to negotiate a great deal for yourself.

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