05/12/2020
Hello Fam, so I thought I should share this with you.
I understand that we all wish to be home owners one day but most of us do not understand what is required on that Journey to Property ownership, I have had people come up to me wanting to make an offer to purchase and I have come to realize that people are not aware and thus they should be...Good people:
1.You don't only need to clear your Debts you strongly NEED TO BUILD A GOOD CREDIT SCORE. A Credit score is what creditors use to determine whether you are worthy of a BOND Approval or not. Things that affect your credit score are, well as you all know,
Bad payment history,
If you don't pay your accounts on time, on the date you had agreed to pay upon,
If you have got judgements on you and
NB: If you use CASH LOANS, PLEASE REFRAIN FROM USING CASH LOANS IF YOU WANT TO PERSUE YOUR DREAM OF OWNING A HOME BECAUSE ITS ALMOST IMPOSSIBLE, IF NOT IMPOSSIBLE AT ALL, TO GET A BOND IF YOU’VE GOT CASH LOANS ON YOUR NAME DOESN’T MATTER IF YOU PAY THEM EVERY MONTH, IT JUST Might NOT HAPPEN…
2. SAVE FOR A DOWN PAYMENT.
A down payment is that once off payment you have to pay when purchasing a home, your Transfer, your Bond Costs and and, it is imperative that you must have this, you must save for this, I say you must save because I dont want you have to borrow money for this as this will hurt when you have to pay it back because your monthly Bond repayments will also kick in and the 2 loans might overwhelm you.
3. GET PREQUALIFIED
You need to be Pre qualified for many reasons, I will touch on a few I think you need to know.
Here are some of the other perks that come with your pre-approval:
Getting a Pre Approval shows an Estate Agent that you are serious about buying a house.
Getting a Pre Approval gives you an idea of what you might qualify for, the amount that you are likely to qualify for so that you know what you should shop for, i know we all want beautiful luxurious homes but in actual fact you need to be true to yourself when you want to own a property you need to know what you qualify for and start looking at that.
In addition to making you a more attractive buyer, a Bond pre-approval also lends you some flexibility in terms of bargaining and negotiations. That's because sellers who know that a buyer is already for the offer amount may be more likely to make some compromises and ease up on that negotiation table if it means the sale is a sure thing.
A pre-approval allows you to shop with confidence, because you already know that you are pre approved for a Bond you then shop with your head up high knowing that you are getting that dream home.
THEN...
YOU CAN MAKE THAT OFFER🤣 TO PURCHASE
Then you can finally make that offer, cant just Jump🤣
I hope you had an Educational Read.
Next up we will talk to Sellers my Faves😜
