Finalise Finances

Finalise your Money Now
By now you will have sent your application into your bank or lending institution and received approval of the loan for the property you are considering. Because the deal has now been negotiated and completed, the only thing left is settlement.

You will need to finalise your finances now and move the cash over to your lawyer for the final payment on the settlement date. The amount of money you have borrowed, plus the cash you have available, should meet the cost of the purchase, as well as the borrowing costs, plus selling costs.

The selling costs include the real estate agent's costs, your lawyer's costs, any renovation or repair costs necessary, the costs involving the mortgage, any interest payments needed up front and any promotion costs.

Using Mortgage Brokers
A mortgage broker is like any other broker, except that they deal in mortgage finance. Their job is to find the best finance deal for you, as a client. A broker usually deals with a number of finance companies that provide this type of financing and it is his/her j...

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