7-day finance

7-Day Finance Terms: How to Make a Stronger Offer

A 7-day finance clause gives you one week after signing the contract to get formal loan approval. It makes your offer more attractive to sellers than the usual 14 or 21 days.

It only works if your pre-approval, documents and valuation are ready before you sign.

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Why sellers prefer short finance terms

During the finance period the seller doesn't know whether your loan will be approved. A shorter period gives them confidence the sale will go ahead, which can make your offer stand out when there are several buyers, without having to offer more money.

How we help you hit a 7-day deadline

We do as much of the paperwork as possible before you sign. Once the contract is signed, we move quickly to submit your application and arrange the valuation. Whether 7-day terms are achievable depends on your circumstances and the lender, so we assess your situation before you make an offer.

Where 7-day terms can help

First home buyers
Auction purchases (finance must be ready before you bid)
Construction and renovation finance
Investment property
Refinancing

Frequently asked questions

Is 7-day finance realistic?

It can be when you already have a current pre-approval, your documents are up to date and the lender can order a valuation quickly. Complex incomes, construction or unusual properties usually need longer, so check with your broker before writing 7 days into an offer.

What happens if my loan isn't approved within the finance period?

Before the deadline, ask the seller in writing for an extension or end the contract under the finance clause. If you let the date pass without doing either, the contract may become unconditional and your deposit could be at risk. Your solicitor or conveyancer will guide the exact steps.

How can I speed up formal approval?

Have a current pre-approval, keep your payslips and statements up to date and ask for the valuation to be ordered as soon as you sign. Some lenders also turn applications around faster than others. We'll tell you before you make an offer whether a short finance period is realistic for your situation. Read about home loan pre-approval.

Want to make a stronger offer?

We'll get your finance ready so you can offer shorter terms with confidence.

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Or call us on (07) 3194 0888