Finance Negotiators, 1/64 Ferny Avenue, Surfers Paradise (2026)

Offices in Melbourne and Gold Coast- serving customers countrywide. Fast and easy fully online process, with phone or video chat discussions. We have 25 years experience, guide you every step of the way, do all the hard work for you and keep you updated throughout the process. We compare hundreds of mortgages from over 40 lenders to ensure you get the best deal and most suitable mortgage for your

circumstances. For our business customers we offer a FREE full review of all existing business banking facilities and relationships and advise you where we think you can get a better deal or more suitable lending structure. This may mean a better facility type or term, cheaper pricing, less conditions and covenants or even alternatives to using bank debt for your funding requirements. This does not always mean moving banks. We are often able to re-negotiate your existing facilities with your current bank.

16/10/2022

Why do banks and agents value your home differently?

Have you ever wondered why your lender will give you one value for a house while the real estate agent has said something completely different?

How do you know the real value of a property when everyone is giving different quotes?

The difference in the two valuations is due to the lender and the agent assessing different aspects of the property’s value – the lender is looking at how much to comfortably lend you in relation to the cost of the property, while the agent is looking for a sale price.

Bank valuations vs market valuation
The property’s market value is the estimated amount for which the property should fetch on the date of valuation, assuming a buyer and seller were to enter willingly into a sales transaction. The bank valuation is the amount that the lender is prepared to lend against the property.

How is the bank valuation made?
The bank or lender appoints a valuer to independently verify the value of the property. As the property is the asset providing security for the loan, the bank valuation generally tends to be more subjective and conservative, to protect the lender financially in case you cannot pay your mortgage and the property must be sold to cover your debt. While the bank valuation is based on extensive research into comparable properties, it will be lowered when the buyer is borrowing more – this is a way for the bank to balance its risk. The bank’s valuer can potentially be held liable if the bank suffers financial loss, so they prefer to make a safer more conservative estimate. The valuer can also advise the bank to refuse the finance application if they believe the buyer has paid too much for the property.

Not happy with the bank valuation?
If you are dissatisfied with the bank valuation of your chosen property, you have two options – request a reassessment of the valuation; or cancel your finance application and start again with another lender. The bank will only do a reassessment if you can provide evidence that comparable properties reflect a higher value than their valuation.

You should also check that the market valuation reflects the true market price of a comparable property, as you may find that the seller has overpriced the property. You can hire an independent valuation company to make a market valuation of the property.

How is the market appraisal made?
The market opinion is assessed by a real estate agent, and establishes the asking price for the home. The agent has a different agenda than the bank’s representative – they want to value the property to achieve the highest possible price in the sale. However, they do need to work realistically within the parameters of recent sales and real estate activity in the area. The vendor can receive valuations from several agents when deciding which agent to appoint to sell the property.

Whether you are buying or selling, contact us today if you want independent advice about your property.

12/10/2022

🚫 Top Property Investment Mistakes

1. Emotional investment
When you are choosing an investment property, there is no such thing as “love at first sight.” If you make an emotional investment before you have done your research into the location and the rental potential, you are at risk of making an extremely expensive mistake. Investors who let emotion rule their decision-making are far more likely to over-capitalise from the beginning, making it even more challenging to ensure your long term investment will be profitable.
Your investment purchase decision should be based on thorough research into the long term profitability of the location and the specific property.

2. Lack of planning
Any long term investment strategy requires specific goals and a realistic strategy in order to be successful. Without a clear plan, you will not have any sense of direction, and this could leave you struggling to maintain your financial commitments and missing profitable opportunities.

3. Get rich quick attitude
If you are looking for a quick turn-around or a fast profit, the real estate is not the investment strategy for you. Shares and other asset classes can have an unpredictable value, property is a long term investment.

Real estate is a long term investment because it takes time for a property to increase in value and there are numerous additional costs involved in buying and selling a property. The value of property lies in its long term security and lack of volatility.

4. Poor cashflow management
Your property may not generate enough income to cover the cost of maintenance, rates, taxes and management fees, particularly in the beginning so you will need a comprehensive budgeting plan and a long term strategy to ensure you always have the cash flow to maintain the property.

When you are planning to purchase an investment property, a good rule of thumb is to budget an additional 10% of the property’s value to cover costs until the property becomes more self-sufficient.

5. Misinterpreting the market
Many inexperienced property investors fail to ask the most essential question of all – is this property an appealing rental prospect? Do some research into the local area and find out what types of properties are in demand for tenants, and what types of tenants you will attract.

Check out the property at different times of the day to see if there are any glaring issues that may drive tenants to leave as soon as their lease expires – noisy neighbours, heavy traffic, or just an inconvenient commute to the local shops could make it difficult to rent out the property in the long term. You should also calculate the average rent in the area to see how it will cover your costs.

6. Lack of delegation
You might think a DIY approach to property management will save you money, but remember your time is valuable as well. Consider all the jobs a property manager handles – finding new tenants, conducting regular inspections, collecting rent, and managing any emergency maintenance issues. A property manager also deals with any legal issues relating to the rental property and will represent you at a tribunal if necessary. This person is an invaluable asset, and gives you the opportunity to expand your property investment portfolio with more properties, knowing you can delegate all property management issues to a full time expert.

09/10/2022

First Home Buyer Cheat Sheet: 10 Tips To Buying Your First Home

So you’re going to take the plunge into real estate ownership. Congratulations!

You’ve just made a smart decision in securing your financial future.

Let me help you with my top 10 tips for buying your first home.

1. Decide what you can afford
Take a look at your salary, debt levels, cost of living and the repayments you’d face on your ideal property. Be honest with yourself about lifestyle costs so you don’t over-stretch yourself.

2. Get your finance pre-approved
Do this before you start looking. Don’t risk missing out on a great property because you haven’t got your finance organised. Shop around too as the banks are offering some very competitive rates right now!

3. How to buy where you want for less
Take a look at the neighbouring suburb. It might be a five-minute walk away but often so much cheaper. If you can’t afford your favourite area, consider what you like about it and seek the same in another region.

4. Top features to look for
Major items to look for include a quiet suburban location away from major roads and traffic noise, lots of natural light, close proximity to shops and transport, a good floor plan, good internal size (apartments)/land size (houses) and ideally, off-street parking. Your first property purchase will not be your last, so be willing to compromise on the smaller things but not the headline items above.

5. Properties to avoid
Company title apartments often have by-laws restricting owners’ rights to rent their apartments. This might not matter right now, but if you ever want to rent it out or sell it later, company title could be problematic. Stick with strata apartments – there’s plenty around. Also avoid new apartments in inferior locations. They’re often keenly priced because the developer bought the site cheaply.

6. Recognising potential
It’s really off-putting to walk into a dirty, untidy property. But stop yourself and try to see past the mess. How would it look with new paint and carpet and a professional clean? A poorly presented property in a good location is a gift for budget-conscious buyers as you’ll face less competition.

7. Buying at auction
You can make an offer prior but you risk paying more than you need to. Pre-sales usually occur when there is lacking interest or when one buyer is offering a lot more. Plan your walk-away price and attend some auctions to experience the atmosphere and observe a few bidding strategies. Organise contract amendments beforehand in writing. If you really don’t want to bid yourself, you can authorise someone else to act on your behalf.

8. Bidding at auction
If you’re going to start the bidding, start low. Project confidence and make the other bidders think you have no limit. Make your bids fast and assertive. Agonising over your next bid is a sign of weakness. Call out your offer in full (that is, say “$ 350,000” instead of the increments, such as “$ 5000”). If it’s going to pass in, make sure you’re the highest bidder as you’ll usually be given first right to negotiate afterwards. Stick to your walk-away price. Short-term disappointment beats long-term remorse!

9. Buying via private treaty
Don’t offer the most you can first-up, as vendors will always assume you can do better. Put the offer in writing and mention your pre-approved finance. To make it more seductive, sign a contract and attach a deposit cheque. If it’s rejected, look for ways to help the vendor. Offer a shorter settlement or early release of the deposit if they accept the price. After one or two rejected offers, try offering an odd number such as $ 337,500 instead of $ 340,000, as it implies you’re stretched to your financial limit.

10. Get a pest and building report
I strongly recommend this but there are also ways to identify major defects yourself. These include checking the power board in the electricity box to see how old it is; checking for sagging floors; and looking for water stains on the ceilings or dark stains around the skirting boards, which could indicate leaks or rising damp. Also, turn on a tap to check the water pressure.

Good luck!

Source: John McGrath – Switzer Published: Wednesday, November 16, 2011

Great advice from a leading real estate agent. It is really important to understand the cost involved in buying a home. We are offering you a free assessment which will provide you with a finance recommendation (comparing all the major banks and other leading lenders) and a total cost analysis to ensure you know all the ins and outs when buying.

Click on the 'Message' button above and request a chat today!

05/10/2022

Top Six Reasons why your home loan might be declined

You’re ready to buy a home, but you can’t find a lender who will approve your home loan. While this might seem discouraging and frustrating, it is not necessarily the end of your dream to become a home owner. Once you know the reason that you are considered a bad risk, you can improve your eligibility. Usually, it just takes a little more time and to improve your eligibility.

Here are the top six reasons lenders might decline your loan application:

1. Low deposit
If you can only place a small down payment on the property of your dreams, the lender might conclude that you are not financially prepared to take on the long term responsibility of a home loan. The lower the deposit, the more you need to borrow, creating a higher risk for the lender. A larger deposit not only lowers your repayments, it also demonstrates your long-term financial commitment.

2. Bad credit
Again, if you have a poor history of paying bills or repaying credit card loans for frivolous items, a lender is not going to trust you to pay off a home loan. Clean up your act by settling your debts and paying off credit card bills promptly, so you come across as a more realistic prospect for lenders.

3. Employment history
Lenders will be looking closely at your employment history to confirm whether you have steady employment and a regular income. If you have only been employed in your current role for short time or if you have been self-employed for less than two years, you will be perceived as a higher risk and your loan application may be declined on these grounds. If you are currently unemployed, your chances of being approved are extremely low, as you cannot repay a home loan if you do not have a viable income – and do you want that additional financial stress while you are out of work? Once you have a steadier employment history, lenders will look at you more favourably!

4. Your age
It might seem unfair, but your age can count against you when you are applying for a home loan. If you are extremely young, lenders might be concerned that you won’t commit to the long term responsibility of paying off a home loan. If you are older and close to retirement age, they might assume you won’t have the income to manage home loan repayments. You can counteract this impression by demonstrating to the lender that you have a solid plan in place and that you are committed to repaying the loan.

5. You want a unique property
When you want to purchase a unique or unusual property, your potential lender will be looking ahead to when you want to sell it. When a property falls outside the mainstream, there is a limited market of potential buyers, so your lender will be wary of investing in a property that may not sell easily.

6. Already applied to a lot of lenders
If a lender can see you have already sent out a lot of applications and been knocked back every time, they might save themselves the effort of further research and decide that you are a bad risk. When you are knocked back by a lender, ask them why they turned down your application, then fix the issue before trying again.

For more information about how you can secure a home loan, contact us today, so we can help you follow the right path towards owning your home.

Address

1/64 Ferny Avenue
Surfers Paradise, QLD
421

Website

https://www.financenegotiators.com.au/

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