How it’s worked for others

How Vendor Finance has helped others…

Many Australians have benefited from the small number of people who offer their homes for sale on Vendor Finance. In most cases the people that enter into Vendor Finance contracts end up buying their house within 3 to 5 years. Other times people just choose to sell their house as it has gone up in value, they take their profit and go and do whatever it is they wish to do with the money.

There are others who have major circumstances change in their life that makes it impossible for them to get a bank loan to purchase their Vendor Finance property. These people have two choices, one is to on sell the property through a real estate agent and the other is to discuss the situation with the Vendor Financier about cancelling the contract.

Below are some examples of the way that these home buyers have dealt with these situations in the past with OPM Properties.

Sam and Kylie

Sam and Kylie bought a house from OPM in Cranbourne on Vendor Finance. The only reason Sam and Kylie could not buy a house on their own was due to a business that went wrong five years before. This meant that their credit history was not satisfactory for the bank even though both Sam and Kylie and well paying jobs and had been in them for some time. So Vendor Finance was the only solution for them.

Because they did not believe they would be able to buy a house they had not been saving for a deposit. Like many others that are left out in the cold by the banks they had spent their money elsewhere on things like cars and nice furniture.

They had a small amount of money to put toward buying a home and made extra payments over the coming months. Approximately 9 months later I got a phone call from Sam saying they had got themselves a loan and needed a payout figure so that they could pay us out.

Hi David and Julie,

Thank you for sending me that information.  It is very much appreciated.  Once again Sam and I would like to Thank you for everything, we are very grateful that you both gave us the second chance that others wouldn’t.  What you have done for us has changed our lives.

All the best to your family


Sam and Kylie Minto


Damian and Belinda

Damian and Belinda had recently moved from Queensland and did not have sufficient job history to satisfy the Banks so were unable to purchase a home. The other problem was that they did not have enough money to pay the deposit, as well as the stamp duty if they had bought in the property outright.

Damian and Belinda needed time; time for the property to go up in value, as well as time to save the extra bit of money they needed for the stamp duty to settle the property. When Damian and Belinda purchased this property from OPM they paid $252,000. When they went and got their bank loan three years later the property was worth over $300,000. On top of this they had made payments that had reduced what they owed on the property to below $230,000.

This meant that when they went for their bank loan they had no trouble as they had plenty of equity in the house with the combination of payments and natural growth of the area.


Ryan and Ashley

Ryan and Ashley were newlyweds and had just spent most of their money on their wedding just a few months before they saw this house for sale by OPM. The bank would not lend them money to purchase the property due to the fact that they did not have sufficient money for the deposit and the fees like stamp duty.

They were with OPM for two years in which time they improved the property. This house was not in an area where they were looking to live for a long period of time so rather than get a bank loan and buying a house, they chose to just sell the property. With the proceeds of the profit they made they had enough money to purchase a property in a suburb closer to work.


Fabrice and Marie

Fabrice and Marie lived just around the corner from this property, so when the sign went up they gave us a call to see if they were able to buy with Vendor Finance from OPM. They were both employed but as usual had insufficient funds for the deposit.

During the two years that Fabrice and Marie were in the property they improved it to look like the picture you see in the picture below from a standard low set brick veneer home.

I got a phone call from their bank one day out of the blue asking for a payout figure and the property settled within the month. They were able to get a loan mainly based on the improved value of the property due to their own hard work in improving the property.


Danielle and Grant

Danielle and Grant lived in a suburb where the rents were much higher; so when they saw this property advertised at less than $100 more than what they were paying in rent they decided it was time for them to buy. They did not have enough money for stamp duty and deposit as seems to be the case with most people which means Vendor Finance was the only way they were going to get a home. They were in the property for about four years and decided to have more children which meant that one of them had to stay home to look after the kids.

On one wage they were unable to support buying the house so they came to us to see what choices they had. Since the house had risen substantially in value we told them to put it on the market with a real estate agent and just sell it so that they could move forward with their future without the additional stress of loan payments they could not afford.

The property sold relatively quickly and they were able to put over $30,000 in the pocket after paying OPM what they owed. Very positive outcome in a relatively short period of time for all involved.


Michael Murphy

Michael came to OPM in 2009 when he saw this house advertised in Melton. He maintained his payments until the unthinkable happened a few years later and Michael was unable to hold down full time employment. Rather than fall into arrears Michael came to us to see what we could do to help him out. We offered the suggestion that he could put the property with an agent and just sell it on the open market or we could cancel the contract. As Michael was starting to struggle he asked about us cancelling the contract. Due to not being able to work Michael asked us to cancel the contract


We had a couple of local agents give their opinion on the properties value; we came to an arrangement where we paid Michael the equity he had created, OPM did some upgrades to the property and resold it. Michael waled away with a nice sum of money. A good outcome in a timely fashion





 These are just a few of the people that have benefited from Vendor Finance and No Bank Home Loans.