Eligibility Letters
Before a Land agent will allow you to sign on a block of land they will request a letter of eligibility from a finance broker (unless you can produce a pre-approval letter)
This letter states that a broker has had a basic look at your situation and deemed you eligible for finance.
Be aware of any additional conditions that brokers add to these letters to get a developer to accept.
Sometimes a Building company Sales rep will send this letter directly to the land agent without you seeing it.
Always request to see a copy of the documents being sent on your behalf. Be aware of the conditions you are being held to prior to signing your offer and acceptance.
