Rapid · Rapid
Rapid, vendor finance settlement shortfall
$420k, 3 days · Sydney, NSW
Quick answer
Vendor finance arrangement falling through on the day of settlement on a Sydney metro residential acquisition. Buyer had equity in a separate unencumbered property but no time for a standard process.
Representative deal shape · Not a specific transaction · For information only
Structure
- Caveat over the separate unencumbered property pending registered mortgage
- Three-month term, sized to a documented refinance exit at a major bank
- Conservative LVR against the security property
- Capitalised interest, paid at exit
Outcome
Settlement saved. Approved and funded within 3 business days. Refinanced to a major-bank facility 11 weeks later.
Why this shape clears
Files like this clear because the exit is documented, the security supports the position, and the timing fits a private credit file rather than a bank file. Speed is the tradeoff against rate, and on short-dated files the speed call usually wins. See the Rapid product page for full envelope.
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