sales fall over in brisbane property market.., page-2

I must admit that one of the most frustrating things in the last 3 years has been dealing with inexperienced buyers. Most people only go through the buying or selling process 2, 3 times in their life and as such do not know how it works. At various times had cheaper properties up for sale in Perth. Common problem is the buyers do not do their homework as regards finance. One sale fell over when the buyers used a real estate agents valuation on what their house was worth $400,000 then went out and made an offer on investment property, six months later. When mortgage broker did sums, the bank valuation was around $360,000 they also had $30,000 woth of credit card debt, which is taken into account. No loan and blame everybody else. The way to do it is go to bank first and be honest and upfront, find out the maximum they will lend you at that time. Then find property within your price range. The banks are not at fault they have rules and policies, you must find out that before you make offers not after.