Case Study: Urgent Settlement Solution for a Property Purchase

Background

A client in Brisbane was preparing to settle a property initially intended to be completed under another name. However, unforeseen circumstances led to a sudden shift in responsibility, creating both financial and emotional stress. With settlement approaching quickly, securing urgent financing became the top priority to ensure the purchase could proceed without delays.

Finance Required

With just five days until settlement, the client urgently needed a short-term property loan to finalise the purchase of an apartment in Brisbane City. After months of waiting on the original lender with no approval in sight, the risk of losing the deposit and forfeiting the contract was high. A fast and flexible lending solution was crucial to ensuring a smooth transaction.

Key Loan Metrics:

Loan Type: Purchase of a Property
Loan Amount: $415,000
Loan-to-Value Ratio (LVR) Against Purchase Price: 65%
Loan-to-Value Ratio (LVR) Against Valuation: 65%

The Challenge

The urgency of the loan, combined with legal complexities, required a lender who could act quickly and efficiently to secure settlement in time. The client faced multiple obstacles, including:

Tight Settlement Timeline: With only five days left, every step needed to be executed flawlessly.
Risk of Financial Loss: Any delay would result in losing the deposit and forfeiting the contract.
Lender Delays: The original lender failed to provide approval after months of waiting, forcing the client to find an alternative finance solution at the last minute.
Legal Issues: Errors in the Contract of Sale were identified, which could have impacted mortgage registration and title transfer.

Given these challenges, the client needed a lender offering private lending solutions with a streamlined process and proactive support.

Dash Money’s Strategic Solution

To meet the client’s urgent financing needs, Dash Money implemented a structured and efficient solution:

Expedited Valuation & Loan Processing: Arranged an urgent valuation and prepared loan documents simultaneously to prevent delays.
Proactive Issue Resolution: Identified and swiftly corrected errors in the Contract of Sale to ensure a seamless transaction.
Direct Coordination with Key Stakeholders:
- Liaised with the property’s building manager to arrange timely valuation access.
- Worked closely with the client’s lawyer to ensure all legal requirements were met.
- Communicated directly with the valuer to facilitate an efficient inspection.
Continuous Support & Communication: Dash Money remained attentive throughout the process, addressing any concerns immediately and ensuring transparency at every stage.

Results & Benefits

Thanks to Dash Money’s fast and proactive approach, the client successfully secured the loan within the five-day deadline. The key benefits included:

Settlement Completed in Just 5 Days: Dash Money received the application on Monday and had everything ready for settlement by Friday.
Deposit Protection: The client successfully settled on time, avoiding the loss of the deposit and preventing contract forfeiture.
Legal Issue Resolved: Dash Money’s attention to detail uncovered a major issue in the Contract of Sale that the client’s solicitor had overlooked. By identifying and correcting this error, potential legal complications were avoided.
Peace of Mind: With Dash Money managing every step, the client was able to navigate a stressful and urgent property settlement with confidence.

Client Testimonial

“Fast and simple. The team was attentive at all times, even after hours. I would absolutely recommend Dash Money to others.”

Conclusion & Advice

Choosing a lender that prioritises urgency is crucial, as delays can be costly in time-sensitive situations. Ensuring legal documents are accurate helps prevent settlement issues, and working with lenders offering fast property settlement finance can make all the difference.This case highlights the importance of selecting a finance partner that is responsive, proactive, and solution-oriented. Dash Money’s ability to provide non-bank finance solutions under pressure made all the difference in securing this urgent settlement.