Fact 3 – Vendors prefer approved investors
Vendors prefer to minimise their settlement risk by selling to Assquire investors who have already been credit approved by HRL, if they are buying their property “subject to being able to use the Assquire system to earn high yields”.
With the assistance of our active and increasing distribution channels, investor demand is projected to easily outstrip current Assquire approved property supply.
Say that 3 or more investors apply to a builder or real estate agent to purchase a particular property to use as an Assquire property. Only one of these 3 investors has yet been credit assessed by HRL in advance and received her or his lender’s consent in writing to the MA contract and related Assquire system covenants. What will the vendor do? For savvy vendors, the other two buyers may well miss out. Supply and demand. Investors simply must pre-apply for HRL credit assessment, and keep their lenders fully informed, and ensure they have all of their relevant independent advice lined up, if they want to beat their investor competitors to the line.
If the investor buyer is purchasing “subject to Assquire” from the vendor and has not yet been credit approved, the vendor has more certainty if another already credit approved Assquire investor is lining up as their purchaser.
So for a number of reasons, it makes sense to apply early to avoid disappointment.
Read more at http://assquire.com.au/aap