Is The 'Pay Later' Option Tied To Settlement Or Any ‘Pay Later’ Providers?
The pay-later option SearchX provides is handled through Property Credit (this will then fall within Property’s terms) - https://property.credit/
Agents can include the cost in their VPA/Marketing Packages, use their current Pay Now/Pay Later provider and place the order, or vendors can place the order directly.
How Property Credit Can Help
Property Credit gives vendors access to funds during the sales process, helping them maximise their property's potential while preserving cash flow.
Key Features
• Access up to 80% of available equity
• No income testing required
• No credit file enquiry or lodgement
• Simple one-time application
• Approvals on the spot as a SearchX client
• No repayments until settlement
• No establishment fees on advertising loans
Common Uses
• Marketing, styling and staging
• Pre-sale renovations and improvements
• Auction and campaign costs
• Deposit for a new property purchase
• General cash flow during the sales campaign
Helpful Resources
Rate Calculator:
https://go.property.credit/rate-calculator
Seller's Guide:
https://property.credit/lp/sellers-guide/
Eligibility
• Applicants must be actively selling a property
• Maximum loan term of 180 days (6 months)
All loans are subject to responsible lending obligations, lending criteria, terms and conditions.
For more information, please visit property.credit or contact the team directly:
Phone: 1300 829 536
Email: enquiries@property.credit
Funding with Property Credit – Frequently Asked Questions
What are the minimum and maximum loan terms?
There is no minimum loan term. The maximum loan term is 6 months.
Do sellers have to pay anything upfront or along the way?
No. There is nothing to pay until settlement of the property.*
Can I apply for additional funds afterwards?
Yes. While you are still committed to selling your property, additional funds may be approved, subject to standard assessment processes.
What happens if my property doesn't sell within six months?
The loan will need to be repaid, or a rollover application can be submitted prior to expiry. Additional fees may apply.
How long does it take to get funding?
Once all required information is received, funding can be approved in as little as 24 hours.
What is pre-sale improvement funding?
Property Credit provides an "improve now, pay later" solution, enabling property owners to invest in upgrades that enhance sale price and buyer appeal, with repayment taken from settlement funds.
What can funding be used for?
Property Credit funding can be applied to a wide range of campaign and compliance costs, including:
• Form 2 Seller Disclosure Statements
• Advertising and marketing
• Moving costs
• Pre-sale improvements and renovations
• Building and pest repairs
• Deposits
• Legal costs
Does Property Credit do a credit check?
No. Property Credit does not perform credit checks when assessing applications.
Who can apply for funding?
Any property owner who is actively selling and is signed under an exclusive agency agreement.
Can I use Property Credit if my property is connected to my SMSF?
No. Unfortunately, Property Credit is unable to provide funding for properties held within Self-Managed Superannuation Funds (SMSFs).
What happens at settlement?
At settlement, simply provide your solicitor or conveyancer's details. Property Credit will liaise directly with them to finalise the account and arrange repayment from settlement proceeds.