Anonymised property matter
Finance fell through after exchange
- Transaction
- Purchase
- Jurisdiction
- NSW
- Focus
- Finance condition and post-exchange risk
Situation
The client’s situation
A purchaser exchanged on a residential property believing finance was effectively approved. The lender then changed its serviceability assessment and would not issue unconditional approval. With the contract timetable already running, the purchaser risked losing the deposit or being pursued for loss if they simply refused to settle.
How Aquarius Lawyers helped
The legal response
We reviewed the cooling-off position, finance wording and negotiated special conditions, then mapped every notice deadline. Rather than treating the lender’s decision as an automatic right to walk away, we identified the contractual pathway available, prepared the required notice and communicated with the vendor’s solicitor before the right expired.
Documented outcome
The documented outcome
The transaction ended under the available contractual mechanism, avoiding an uncontrolled default and giving the purchaser a documented exit rather than a last-minute failure to settle.
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