I’ve been looking to buy my first property for the past few months, and found a place on new years eve. I put in an offer, and it was accepted. I’d been raising funds to make up for the difference at settlement as I needed an extra $5,500 to cover the purchase price. I had $5,300 today, and came home to my unit to find that it had been broken into I lost my savings AND some other personal belongings. The settlement day for the property is this Friday.. I don’t know what I’m going to do Does anyone here know if it would be possible to re-finance the loan on time for Friday? The loan is through the CBA/Colonial.
Thanking in advance for any help/advice.
Brandonkay henryMember@kay-henryJoin Date: 2003Post Count: 2,737
The $5300 was in cash and was stolen from your unit?
If you are able to make rearrangements with your bank, you would have to have a police report to back up your claim. Actually, i have no idea if you could refinance, but i know the police report would have to be involved.
Were you insured? If so, you might be able to get an emergency payment, but I don’t think insurance coy’s insure for large amounts of cash- otherwise we might all be remembering we had a few thou that got lost during break-ins
Perhaps it is that you may kjust have to pay a daily penalty to the vendor until you get the money together again. I am sure if you have some kind of r’ship with the vendor of RE agent, they won’t mind if it’s a few days late, and if you pay the penalty for lateness, it’s not as if the vendor loses out anyway (unless they’re using your money to settle another place at the same time of your settlement.
Best to call your solicitor urgently and get that police report happening- noone is gonna believe you lost the cash unless you have the report number.
kay henryannaw2Participant@annaw2Join Date: 2003Post Count: 178
I’m really sorry that this has happened to you when you have almost achieved a goal. I know credit cards are hard to pay off, but maybe this would be a short term option, to get a cash advance on your credit card if you have one. A personal loan for $5/6000 may be another. You seem to be able to save well so could pay either off quickly. Any family you could borrow from short term?
AnnaMortgage HunterParticipant@mortgage-hunterJoin Date: 2003Post Count: 3,781
Thats terrible news.
Let us know how you get on with the bank today.
Call me if I can help in any way – I really mean it. Please don’t think I am just touting for business here.
0425 228 985
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Thanks so much for the replies everybody. Yes, the $5,300 was stolen from my unit.. I had it inside my sunglass case in my bedside draw. Unfortunately I don’t have home/contents insurance, the funny thing is I had pamphlets from the CBA and was ready to sign up for their home and contents insurance plan this week (I have my mortgage and every bank account I have with them too).
I’m not too familiar with how home loans work etc so it got the better of me this time I found out on Tuesday from my land broker that I had to pay just under a thousand dollars in interest on the deposit  So that made things a bit worse. I spoke to my mortage broker to arrange the finance and was going to defer settlement til the 20th but then I found out that I’d be charged another $1200 or so in interest on the deposit which would put me into more debt and more strife. I’ve done what I didn’t want to do and asked my parents for help  I wanted this to be something I did on my own to show them that I was getting somewhere and that I was responsible.. oh well  I’ve decided to sell my car to re-pay the loan and use public transport more often now! I’ve gone through so many emotions in the past two months, ranging from happy and excited, to stressed and depressed.. but I’m happy to say that with the loan I got from my parents the property will be settling tomorrow! [^] Thanks guys!RiskyMember@riskyJoin Date: 2003Post Count: 146
Thanks so much for the replies everybody. Yes, the $5,300 was stolen from my unit.. I had it inside my sunglass case in my bedside draw.
I too put stuff that i want to hide in my bedside drawer thinking i wont get robbed but if i do itll be safe there, they wont think of looking there lol. [V]I mean lets face it the thief will probably look there first when you really think about it. Thanks for making me realize how stupid ive been and ill find a better hiding spot now. [^]
I thought I was wrong once, but I was mistaken !
hehe I know what you mean.. my place is full of electronics gear so I thought that’s what the thieves would go for first.. I was wrong I have a feeling it was one of the people who came to look @ a computer I advertised in the paper.. [!] Ahh well, the place settled today!! I got the same agent to manage the property too and they’ve already found a tenant  I guess there was a bright side to this after all. [^]FibejebeMember@fibejebeJoin Date: 2003Post Count: 152
Congrats on the successful purchase of your investment property, even with the added stress of the burlary.
Years ago I had a cash business and often had large sums of money in the house. I had a dog food can where I had cut the bottom off it, fed the dog, washed the tin out and put a jam jar with the cash in it inside the can. In a cupboard with a dozen other cans of dog food, you would never know. Heres hoping buglars don’t have dogs they want to feed. 
Those days are over now and if you robbed me you would be lucky to get enough for lunch money for the week. No longer have the pooch either.
[:X]RiskyMember@riskyJoin Date: 2003Post Count: 146
While we are on the subject of thieves, i heard that thieves stole a womens handbag at the big day out show and when she got home they had robbed her house using the keys that were in her bag. So just beware that it may not stop with just your purse and cash . The law really has got to get harder on these @##[email protected]## people.CornelBassonParticipant@cornelbassonJoin Date: 2003Post Count: 62
Stories like this makes me sick and we don’t need low life scum bags…….well you have done well in securing your first place. The hard work and stressed paid off and you will see that things can only go better from now on. Keep up the good work