4 reasons why it’s beneficial to pre-qualify for a bond with Bond Gallery
The start of a new year always brings with it a certain amount of excitement and tons of possibilities. The same can be said for when you make the big decision to buy a new home. One way to make homeownership a reality is to get financial assistance in the form of a bond, and pre-qualifying for one has many benefits.
If you’re unfamiliar with the term, a bond is basically a loan against the house you will be buying. It’s the security your financial institution needs should you renege on payment and they have to recover the loss. In this instance, the house will act as collateral.
“A pre-qualification is a no-obligation free service we offer which simply gives a client better negotiating power. Many South Africans do not know what they qualify for and this simple process allows any buyer to know what they are in for.”Elmar Pittendrigh, Bond Gallery Managing Director
Bond Gallery shares with us four reasons why it’s beneficial to pre-qualify for a bond.
1. Know what you qualify for
First and foremost, knowing what you can afford when it comes to buying your dream home is essential. Falling in love with a house then realising that you can’t afford it once you apply for a bond can be heartbreaking. Pre-qualifying will prevent this from happening and increase your chances of finding the perfect place within your budget.
2. It speeds the process along
When you are pre-approved, real estate agents and seller will know that you mean business. Your financial security tells them that you are serious about wanting to buy, and it will make the process that much easier and quicker since the approval is already in place. Pre-qualifying removes oftentimes stressful negotiations as well and ensures that the entire experience is well worth the effort.
3. Avoid the disappointment of losing your dream home
Imagine finding a fantastic house then losing it to another buyer because you had to wait for your bond to be approved. With bond pre-qualification, you’ll be ready to submit your offer for the house before another buyer snaps it up. It’s worth noting that a pre-qualification has an expiry date, after which buyers will have to reapply.
4. Understand what’s involved in the bond qualification process
Using bond specialists like Bond Gallery will ensure that all your bases are covered and that you don’t lose out on the house of your heart due to incomplete information. The ins and outs of property purchasing and ownership aren’t common knowledge, which is why consulting an expert is crucial. It’s their job to ensure that you receive the best options, and they have the skill and knowledge to make that happen. Insider knowledge plays a big part in getting it right the first time around.
If bond pre-qualification is on your to-do list, click or tap here to have a look at the required documents. Bond Gallery has an excellent list of calculators available on their website as well, including an affordability calculator, repayment calculator, and costs calculator.
Who is Bond Gallery and why should you choose them for your bond pre-qualification?
An expert in the art of home finance, Bond Gallery strives to offer their clients the best home loan deal possible. Knowledgeable, committed, passionate, and meticulous specialists will assist you in acquiring pre-qualification quickly and seamlessly.
Bond Gallery’s passion for home finance, business, credibility, and commitment to every person they deal with reflect in the quality of their work. These factors guarantee that you will receive the best possible service from these dedicated professionals.
Visit the Bond Gallery website to find out what they can offer you or connect with them on Facebook. If you want to learn more about buying a home and what it entails, have a look at these useful documents, which include information for first-time buyers and a handy moving checklist.
Click here to get in touch with Bond Gallery today.