Offer to purchase subject to sale of property
The offer to purchase is a binding document between the home buyer and home seller.
It lists the conditions required for the deal to go ahead. The conditions are subject to the sale of the property, but need to be fulfilled beforehand.
If either side pulls out of the deal there will be penalties, unless they do so because a condition listed by the offer to purchase has not been fulfilled, or a clause allowing for withdrawal has been activated.
Once the offer to purchase is signed, the home buyer can apply for a home loan. ooba Home Loans can assist in this by submitting your home loan application to multiple banks, allowing you to compare the packages they offer in response and choose the one best suited to you.
We also offer a range of tools that can make the home buying process easier. Start with our Bond Calculator, then use our Bond Indicator to determine what you can afford. Finally, when you’re ready, you can apply for a home loan.
Related questions
- How do you remove settled accounts from your credit report?
- What credit score is needed to buy a house in South Africa?
- When can I apply for a home loan after being declined?
- Does pre-approval affect your credit score?
- Would I qualify for a home loan if I have a poor credit score?
- Will my bad credit score affect my husband buying a house?