Hello everyone. I'm a first homebuyer looking into buying an apartment before this year ends. I have requested a section 32 and contract of sale from the vendors of 2 apartments. I'm more interested with the 2-BR unit and would like to put an offer (although it is below the selling price). Do I need a conveyancer to review both contracts for the 2 apartments, or is it OK to put an informal offer for the first one, and if the vendor agrees, I'd have a conveyancer review the contract before I formally sign it?
I would start with your bank, check whether the postcode or building type and size have any lending restrictions. Then when you know their maximum Loan to Valuation ratio (LVR) check that you meet their serviceability criteria.
I would suggest that if you think that there is any doubt or uncertainty that you write any offer “subject to finance with xyz bank”
Best of luck with the property search