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Caring for the people of the South Burnett since 1931

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Finance

Finance Approval will be due on the date specified in the Contract.  If a Buyer does not confirm finance approval by 5pm on the due date, the Seller can terminate the Contract and then sell the Property to another Party.  Any deposit paid will be refunded to the Buyer.

If you have made your Contract subject to finance you must take immediate and reasonable steps to get a finance approval.

A verbal approval IS NOT approval for the purpose of the Contract.  Approval is the written letter to you stating that your application for the loan has been approved.  You should provide a copy of this letter to us immediately.

It is important that Buyers immediately make sure that when their financier has approved their loan in writing, that they advise their solicitor immeidately.  Buyers should check that their finance approval is not subject to any major conditions such as valuation or mortgage insurer’s approval.

A lot of times when Buyers do not have approximately 20% of the value of the property in cash or other security, a bank will require the loan to be approved by a mortgage insurer.  The mortgage insurer will have a number of requirements, the most common of which is a valuation.


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J A Carroll & Son Solicitors

Established in 1931 the firm has over 80 years experience delivering quality legal services to the South Burnett community.

Services

  • Conveyancing
  • Wills
  • Power of Attorney
  • Estate Administration
  • Leases
  • Personal Injury
  • Commercial Law
  • Litigation

Contact Us

  • PO Box 17
    KINGAROY Q 4610
  • 10 – 12 King Street
    KINGAROY Q 4610
  • (07) 4162 1533
  • (07) 4162 1787

Liability limited by a scheme approved under professional standards legislation

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