• The place to find the right expertise and make better decisions
  • Find the right expertise
nerka k.
nerka k.
Craigieburn, VIC

Hi, the vendor of a property that i purchased has a mortgage of $480,000. The purchase price was $720,000. is this a problem for the purchaser? please give reasons why. thank you

5 years ago


Dear Nerka,
The normal practice is that when a property is purchased, the mortgage is paid out by the purchaser's solicitors, from part of the purchase funds BEFORE the balance of funds are forwarded to the vendor.

So, as long as normal processes were followed, there should be no issues for the purchaser.

I hope this is helpful.



Yes it was thank you

Your Answer

If you wish to include a video or audio response, you can do this by including links to Youtube, Vimeo or SoundCloud (https://www.youtube.com/watch?v=xxxxxxxxxx OR https://vimeo.com/xxxxxxxxx)

<% error.message %>