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    Do you often spend your weekends attending auctions for buying residential property in Auckland and nearby areas such as Pukekohe, Huntly or even Hamilton? If yes, you must have been witness to the competition amongst home buyers and how real estate agents are making the best of it.

    Even after winning an auction, often home buyers are given just 5 days to meet the finance condition by real estate agents or property owners. If they are able to get a better offer in within the next 5 days, while you do not meet the finance condition, imagine the disadvantage you are at!

    Banks themselves take anything from 3 to 7 working days to provide the approval but AFTER ALL, documents are submitted to them. And to think of it that you will need some time to get your documents in order for the complete application form. Most customers usually take 5 to 7 working days just arranging all the necessary documents – after all, they have their day jobs to do as well.

    Best way to overcome this problem is to get a thorough pre-approval before you attend the auction. Make sure that you submitted all your documents such as income, ID, existing property valuations, etc. – except, of course, documents related to the property you are planning to buy. If you are planning to switch your banks, get it from the bank of your choice – and even more necessary that you submit all docs for it.

    This way the property owners and real estate agents will also be much more confident of dealing with you rather than those without a complete and thorough pre-approval.