Questions to ask your real estate agent or mortgage broker
Questions to ask your real estate agent
How long have you been a real estate agent and are you a fully licensed auctioneer?
How many properties have you recently sold in the area?
What selling price do you think I can achieve and what comparisons do you have?
How much will I need to spend on advertising and where will the adverting be done?
How long do you think it will take to sell my property, and why?
How do you handle buyers’ questions?
What are your fees for private sale or auction and are they negotiable?
How should I sell my property, and why?
Do you have references I can contact?
What makes you different to other real estate agents?
How many other properties are you currently marketing?
Questions to ask your mortgage broker
Why should I use a mortgage broker rather than going straight to the bank?
Are you a member of the Mortgage Finance Association of Australia (MFAA) or Finance Brokers Association of Australia (FBAA)?
Do you have your own credit licence or are you a credit representative?
How do you decide which loan is best suited to my situation?
Do you charge a brokerage fee for getting my finance approved?
What commissions do you receive for writing my loan?
Do you offer a range of different lenders?
How much of a deposit do I really need to obtain a loan?
What impact will my credit card limits have on my borrowing capacity?
What fees will I incur when taking out a home loan?
What is a comparison rate?
What features are included in my new loan?
What information do I need to provide to obtain my finance?
What procedures do I need to follow in order to obtain my finance and settle my loan?
Can I choose to fix my interest rate at a later stage?
If I choose to take out a fixed interest rate, can I choose to lock in my fixed interest rate prior to settlement?
How long will it take for you to obtain the appropriate finance for my needs?
Can you explain to me what lender’s mortgage insurance is for?
Will you process the First Home Owner’s Grant for me?
If I have a default on my credit report, will this impact on my ability to obtain a loan?