Be an informed seller. If you’re in the market to sell your property, you may believe that it’s a buyers’ market and that you are currently at a disadvantage. That may well be the case but nevertheless the good news is that people are still actually selling and demand is quite good.
The three key criteria with any property are condition, location and price.
It is true that buyers may have a larger selection of properties to choose from currently and now with interest rates creeping up, they have become even more choosy.
However, homes correctly priced are selling quite quickly, but overpriced ones are discouraging buyers and can remain on the market for a protracted period. Homes that are in a good condition, in a favourable location and priced well are selling within a few weeks.
Essentially, serious buyers are still active in the market and they are buying but, again, only well-priced properties.
Why use a bond originator when buying a property?
A bond originator’s job is to secure the best possible home loan for a buyer.
First of all, they help obtain the necessary application documents from the buyer. They then submit the application to the major banks. They have specialist knowledge and connections which allows them to obtain the best possible home loan deal at the most favourable interest rate. They also show buyers the different financial products which are currently available.
More broadly, Bond originators create increased competition between the banks which is obviously to the benefit of buyers.
Bond originators are also aware of how the various financial institutions operate. They understand the criteria for lending. For example, Nedbank is one of the few banks which offer finance for share-block deals.
Another common product is a revolving credit facility. This enables the property owner to borrow against the amount already paid into the loan.
The bottom line is that bond originators have simplified the process. They source the most suitable finance for prospective property buyers.
The bank which grants a loan pays a fee to the bond originator, so this is a free service to the applicant.