3 Reasons Your House Offer Could Be Rejected

Last blog I shared our adventures in house hunting.  We saw three properties and liked one of them enough to make an offer.  Unfortunately, after a few days deliberation we received news from the estate agent that the vendors had moved forward with somebody else’s offer.

Having reflected on it, I’m not too surprised at this outcome and there are definitely a few things we’re going to do differently next time.

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What is an Agreement in Principle (AIP) and why do I need one when buying a property?

The more I learn about the home buying process, the more I think it’s all about the acronyms.  In most of the research I’ve done, the first step of the home buying process, before you even begin to view properties, is proving that your lender MIGHT lend you the money to buy a house.  This is called an Agreement in Principle (AIP), but also can be called a Decision in Principle (DIP), Mortgage Promise or Lending Certificate.

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