We recently helped a client who had already purchased a property before securing pre-approval. They were also not in the strongest position to buy at that stage, so the deal needed to be managed very carefully from the start.

When we received the contract, we had only eight days to arrange finance. 

After reviewing the file, it was clear there was no realistic way the loan would be fully approved within that initial finance period. However, after assessing the clients’ full financial position — including credit reports, bank statements, business financials, and all supporting documents — we were confident the deal was strong. 

The challenge was not the quality of the application, but the lender’s turnaround time.

Our first step was to contact the listing agent and explain the situation clearly. We let them know that the application was solid, but that approval would take longer than the original deadline. From there, we worked closely with the agent, providing regular updates and maintaining consistent communication throughout the process.

An initial one-week extension was granted, however due to the a few issues on the lenders side, we knew more time would likely be needed. Throughout the process, we kept both the client’s conveyancer and the real estate agent fully informed, so everyone understood exactly where things stood.

Naturally, the vendor was nervous. But because we were proactive, transparent, and realistic in our communication, the agent was able to give the vendor clear and reassuring updates. 

That helped reduce stress and avoid the panic that can often happen in situations like this.

In the end, the deal was approved, the finance went unconditional, and the vendor was extremely happy with the outcome. The agent even gave us feedback saying that our consistency and communication helped create a great experience for the vendor.