A mortgage broker is an important ally as the banks change lending criteria. Banks have a limited set of loan products and you either fit their criteria or you don’t. But with a mortgage broker, you’re increasing your scope ten fold. Ours has access to over 60 lenders and he gets remunerated by finding you a competitive loan to suit your needs and your time frame. My own personal recommendation is Paul Hixon, based in New Farm. He and his team often turn around a mortgage approval in 48 hours and are enormously skilled at taking the stress out of buying. He guides our buyers through the mortgage application process.
The next member of your team is a conveyancer; a licensed professional who knows real estate law. They give you advice and information, prepare and clarify documentation and guide you through the settlement process in terms of legal requirements. They’ll also research property and certificate title, check for easements, handle your deposit, and conduct the settlement.
And, in this market, I absolutely recommend using a buyer’s agent. The biggest advantage of having a buyer’s agent, especially at the moment, is getting access to stock. Buyer’s agents have access to every agent and all properties whether on market or off market so if you’re not talking to every agent in town you’re missing listings because they’re not being advertised publicly.
Even if you are bidding on publicly marketed properties, the buyer competition is fierce. Every weekend Brisbane plays out the now common practice of reserves being surpassed. Partnering with a buyer’s agent who is absolutely up to date with current values and has access to all the local market research is worth their weight in gold. Buyer’s agents, like agents, have access to land values, days on market analysis, buying and selling history, suburb trends and all the preliminary information you will need to develop a realistic price point. But they also know how to bid strategically, plus they have relationships with agents that allow them to negotiate more effectively.
So, if you’re buying next year, connect with us, find a buyer’s agent, mortgage broker and conveyancer and assemble your crew so you can be the best prepared buyer at any sale you enter into next year.
I hope you enjoy the read.