Purchase-ready means that you are in a position to buy now.
Typically, you will have done your research, sorted out your finances, gathered the necessary documentation, and are all set to go ahead with the purchase.
When it comes to property, being purchase-ready is essential.
That’s because delays and disappointment happen when you can’t buy straight away. Ultimately, you could miss out on your dream home.
When you’re purchase ready, you’ve done what’s required to ensure you have the necessary financial resources to move quickly through the buying process.
Here are our top tips for getting yourself purchase-ready:
- Sort out your financial pre-approval
This means a lender has already approved you to borrow a certain amount of money, and you have an idea of your monthly payment requirements. This can help you set a budget for your property search. - Save up for a deposit and the expenses required to purchase a property
Most home purchases require a deposit of at least 10% of the property price, as well as additional costs associated with buying a property. - Have good credit
Your credit score can impact the interest rate you receive and your ability to be approved for a loan in the first place. - Work with a reputable property mentor
A good property mentor can help guide you through the property buying process, help you find a property that meets your criteria, and negotiate with sellers on your behalf.
Being prepared financially and emotionally can streamline the home-buying process and put you in the best position to complete the sale.
Talk with us about how the Bravo process can help you be purchase ready ahead of time so that all you have to worry about is choosing and moving into your new home.