Buying from a family member under market value? You could be making a ‘Favourable Purchase’

When you’re buying property from a family member, there are times when you might be getting it for a lower than market price. Ahh”¦ family! This can be really helpful for you if you deal with a broker who gives you the rundown on what a “favourable purchase” means and which banks will consider this. Let’s take my clients from a few years ago – let’s call them […]

We want to buy a property – how do we get a valuation done BEFORE we sign a contract?

Well – what is the property worth! That’s the big questions isn’t it. Here’s the ways you can go about this: 1. If you can agree on a price and you sign a contract, then the bank will (typically) pay for a valuation as part of the approval process. (Please note that we can’t provide a copy of this valuation for you – we’re not allowed to give […]