||Last Updated: Jun 28, 2008 - 12:29:23 AM
After the promissory contract: what the buyer needs to do if using a mortgage
- Jul 1, 2007 - 5:39:27 PM
As oft happens a buyer succeeds in getting his or her loan approved for a mortgage by a lending institution for a property but then gets surprised at how much hassle they still have to go through to get the process moving - that is, to get the property after all.
The lending institutions or banks forget to tell their customers that they (the customer - not the bank) have still to do all the leg work in getting much of the paperwork done. Those banks that do provide this service can sometimes charge a hefty charge a fee for to do this for the buyer.
This article provides a summary of the items the buyer (or their legal representative) needs to do.
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