The first basic step that potential buyers sometimes forget is to test your creditworthiness. It is important to find a good credit advisor, then we achieve half the success. We know from our experience that if our client finds a good mortgage specialist, the procedure for arranging funds for the purchase of an apartment can be reduced to a minimum.
It is worth remembering when choosing an advisor that he should have several banks in his offer. Then our ability will be tested in several sources.
After verifying our purchasing power in banks
We have a full picture of our capabilities. Then our illusions are dispelled and we know what real estate we can afford, or how much own resources we should have.
It is important to check that we are not on the Credit Information Bureau list, because if so, our ability may deteriorate.
After verifying our credit options, we begin the stage of looking for a suitable property. Some people search on their own, through the press and the Internet, while others rely on a professional real estate agency.
Regardless of the source through which we found our property, we should determine the conditions on which we want to make the purchase. It is worth remembering that the bank will credit us the property itself, and not what remains in addition, e.g. kitchen or garage buildings.
The next step is the initial verification of the property in terms of its parameters. Then the bank will tell you whether it is able to cover the purchase costs. After a positive response, the preliminary contract is signed and the property documentation is forwarded. In most cases, the time needed to complete the transaction is over 2 months. If we find a dynamic advisor, we can count on speed in action.
We expect the appraiser to visit soon
Each bank requires similar documentation, but not always. It may turn out that the procedures are different and one certificate is recognized by one bank and the other requires a different form.
Our adviser should inform us about the stage of the banking procedure related to our loan. Part of the action depends on him if he obtains the full documentation he needs from us, while part depends on the work of a bank analyst. It is important for the adviser to know what is happening in our case and to keep his finger on the pulse.
In our experience, we can safely say that thanks to a thriving credit advisor, many transactions went smoothly and ended ahead of schedule.