Risky Business

Risky Business – Going Unconditional Without Finance Approval

We have been asked “Is it possible to go unconditional on an O & A contract, which is subject to finance, without finance approval being gained?” The short answer is “Yes”, however we don’t recommend this course of action We were reminded of this recently when a long term client shared an archive case story …

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Seeing Double: When 2 Contracts = Double the Stamp Duty

Seeing Double: When 2 Contracts = Double the Stamp Duty

Having completed thousands of settlements for our clients over the last 29 years, it’s easy to understand that the team at Residential Settlements have pretty much “seen it all” when it comes to handling O & A’s and the settlement process. However, a current case literally had us “seeing double” when an unfortunate error made …

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Avoid these 2 common issues which cause delays

Avoid these 2 common issues which cause settlement delays

Settlement delays… No one wants them, however we have found it can often be the most routine and run of the mill issues which can “slip through the net” and potentially result in stressful delays when it comes to completing a property settlement on time. A recent “close shave” case illustrates how a combination of …

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Company Directorship Changes

The Settlement Period Isn’t The Time To Make This Simple Mistake.

The period between finance and settlement isn’t the time to make changes to the directorship of a company buying a property. That’s the lesson a director learned the hard way recently. Having purchased a property in the name of his company – of which he was sole director – he signed the Transfer of Land …

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I want to buy property from a family member. Do I need a contract?

I want to buy property from a family member. Do I need a contract?

One question we hear from clients is “I want to buy property from a family member. Do I need a contract?” Here I’ll explain the answer. The short answer is that it’s your choice. Many people choose not to go to the trouble of writing up an Offer and Acceptance when buying property from a …

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Joint Tenants or Tenants in Common: why it's important to get it right

Joint Tenants or Tenants in Common: why it’s important to get it right

When more than one buyer is involved, choosing between Joint Tenants and Tenants in Common is an important part of the home buying process. Ideally, buyers should choose a tenancy when completing the Offer and Acceptance, rather than waiting until the settlement process begins. However, even if a tenancy is not specified in the Offer …

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