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YOUR MONEY | What to know before you make an offer to purchase

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(Photo: GALLO IMAGES/GETTY IMAGES)
(Photo: GALLO IMAGES/GETTY IMAGES)

Despite the pandemic, the property market is thriving, with the most ­important drivers being low inte­rest rates and banks keen to grant loans.

If you find a house you’d like to buy, you first have to make an offer on it, which is a contractual undertaking you give the seller.

It often happens, especially with first-time buyers, that you’re so ­excited about the property you don’t pay enough attention to the contract. But this could have a long-term impact on your finances.

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