ways to get quick loan?

G

Georges

Does anyone know where can i get a quick loan for $20,000?

I need it for a property deposit. I have the funds, but it is in the mail as a bankdraft from overseas. Then, after it arrives it will still take a few days to clear.

I signed contract for the land, but the developer is rushing me for the 10% deposit. Even though the settlement is next year March! Dunno what the rush is!

Anyway, they want me to have the funds cleared into their solicitor's bank account by Thursday, which is very tight....
 
I've had a personal loan with westpac approved and in my bank within 24hrs (i had existing accounts of other types), I assume whichever you bank with would be similar. Grab one of those, pay your deposit, receive your overseas coin and use it to close out the facility.

But check your documentation on when money is actually due, and pay it then and not when the sales guy wants it.
 
dtraeger2k said:
I've had a personal loan with westpac approved and in my bank within 24hrs (i had existing accounts of other types), I assume whichever you bank with would be similar. Grab one of those, pay your deposit, receive your overseas coin and use it to close out the facility.

But check your documentation on when money is actually due, and pay it then and not when the sales guy wants it.
Click to expand...

If it's with ANZ, don't say that it's for a property deposit as they won't give you the loan. Found out the hard way that it's against their policy
 
well, i signed the contract but the developer hasnt signed it yet.

They say wanna give to their solicitor, and when the deposit clears they will stat the conveyancing.

I feel this developer is very pushy for the deposit. They cannot even guarantee that the land will be ready by their promised Feb/March 2011 date, yet they must have the 10% deposit this week no matter what.

I already told them my $ is in transit, just takes a few more days to clear.
 
Also, this developer never give me the section 32 to read before I sign it. They say you must come on xzy date, bring 10% deposit cheque. And when I come, they just tell me roughly what Im signing, then say the cheque must be cleared immediately.

No chance for me to even let my solicitor review the contract??
 
hi
tell me the following
1 when you give this developer this 10% where is it being held and I hope you have not allowed it to be released to the developer(if this is the case don't go thru get legal advice)
2 what did you sign and who checked it before you sign it
there is a saying by someone in the real estate industry that says don't sign anything ????
3 if some one is in a hurry does not automatically mean you are in a hurry you are in a hurry if you need to get something done not because someone else wants something done
work at your pace and get it done right
4 why is this deal so good for you
get a quick loan no such thing
get a loan quick to lose it thats fast
 
Georges said:
I signed contract for the land, but the developer is rushing me for the 10% deposit. Even though the settlement is next year March! Dunno what the rush is!
Click to expand...
You're buying land that isn't even titled yet? Might want to do some DD as to how far down the track they actually are with this subdivision. That's a long time off.

And tell them to hold their horses and let your solicitor read the contract. Last thing you need is for there to be a clause in there that if they can't get your new block of land through for some reason, they keep your $20k not give it back.
 
I don't like the sound of things so far Georges :(

You still haven't told us what is stated in the contract regarding the deposit.
If you'd like some free DD courtesy of somersoft, share some more information about this deal as possible, such as where & what is it, how big, how much, etc.
 
Georges said:
Does anyone know where can i get a quick loan for $20,000?

I need it for a property deposit. I have the funds, but it is in the mail as a bankdraft from overseas. Then, after it arrives it will still take a few days to clear.

I signed contract for the land, but the developer is rushing me for the 10% deposit. Even though the settlement is next year March! Dunno what the rush is!

Anyway, they want me to have the funds cleared into their solicitor's bank account by Thursday, which is very tight....
Click to expand...

Yep , that titles a long time off , should have just told them no can do until then on signing. Bet they wait , or the property is still there when funds are clear. They'd be well aware market could turn and they'll try to bluff those puppies out the door asap !

Cheers
 
luckyone said:
If it's with ANZ, don't say that it's for a property deposit as they won't give you the loan. Found out the hard way that it's against their policy
Click to expand...

The trouble is , what do you say it's for then ? If you say a car or boat won't they want to see some paperwork or something ?

Cheers
 
random said:
The trouble is , what do you say it's for then ? If you say a car or boat won't they want to see some paperwork or something ?

Cheers
Click to expand...

For a car they might ask for paperwork. Might be best just to say it's for a holiday or something. They're not going to care about paperwork then.
 
its getting to be pretty standard to be asked to sign an unconditional contract, and provide 10% at contract signing.
You still have the 3 day cooling off period.
the fact the land is not yet titled doesnt make any diference.
No developer can give you a guarantee of when the land is titled, until its titled. I have seen some released early, and people then have 14 days to raise the funds. Bit hard as they were told by the sales person its 6 months away and were busily saving...
I suggest cancelling your contract and requesting your initial holding deposit back unless they can meet your timeframes.
 
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