How a finance approval letter could cost thousands in penalty interest

How a finance approval letter could cost thousands in penalty interest

A recent call from an agent has highlighted the risks to buyers when they fail to notify the seller that their finance has been approved. In this instance, the buyer had told the agent they had received finance approval. But, in an attempt to delay settlement, they refused to provide the written notice required by …

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How smart buyers deal with settlement delays

How smart buyers deal with settlement delays

You’ve signed the contract. Finance is approved. The sold sticker is up. You’re just days away from settlement and moving in to your new home. And then the news you weren’t expecting – the seller won’t settle! They tell you they’re involved in an interstate purchase that needs to fall over before this one can …

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Moving House - It's a Case of Having a Plan B

Moving House – It’s a Case of Having a Plan B

As they say “failing to plan, is planning to fail” however we find that when it comes time for clients to co-ordinate their house move with their settlement date, it’s wise to maintain some flexibility with the planning. This includes the all-important booking date for removalists because a scheduled settlement date is not always guaranteed …

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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 contract conditions and the settlement process. However, a current case literally had us “seeing double” when an unfortunate error made by …

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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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