$800,000
committed without a GRV valuation
The client could not wait weeks for a hypothetical development assessment. A fully evidenced package secured indicative terms with the valuation following rather than blocking.
A client with an approved development site in the CBD of Moama, New South Wales — a regional centre of about 25,000 people across the river from Echuca, roughly three hours from Melbourne — needed $800,000 for six months to move quickly on the opportunity.
The site was worth far more as a development than as raw land: valued as-is at about $1.15M, against a proposed gross realisation of about $11M. But the GRV valuation supporting that number had not been instructed yet, and the client could not afford to wait weeks for a hypothetical development assessment before securing his position.
We approached the funder with a fully built case in the absence of the formal valuation — a funding table modelling the full six-month term month by month, local agent evidence and rental-income analysis supporting the GRV assumption, the approved planning permit, and a clear exit. Then we asked the direct question most brokers avoid: "Would you be willing to consider a first mortgage with the above supporting items, but without the GRV valuation?" — while committing to a hypothetical development assessment being instructed in the following months.
Indicative terms were issued on the strength of the package. The client's instruction was that he "would like to move quickly on this, so if you have appetite, he will commit immediately" — and the structure allowed exactly that, with the formal GRV valuation following rather than blocking.
Deals are won and lost on sequencing. Presenting a credible, evidenced case early — and being explicit with the funder about what is missing and when it will arrive — keeps a deal alive that a wait-for-the-valuation approach would have killed.
This case study is a representative example. Full details and figures are available on request — get in touch to discuss a comparable structure for your project.