It’s almost as if the major banks have hollered “head for the hills”, lock up your daughters.
Last week I had a client who had pre-approval to buy, but the bank would not give final finance approval until they could value the property and they would not value it unless she had exchanged contracts.
Whoa! Welcome to the world of over-reaction.
We exchanged with a 5 day cooling off and got the deal over the line- so what’s the lesson here? Be careful, as if you as an agent, know that they are not financed, you cannot exchange unconditionally.