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  1. M

    What happens if vendor makes a mistake on the amount to be paid on day of settlement?

    Vendor realised mistake couple days after settlement. Buyer paid the difference, but there was a legal process involved - documents had to be drawn up etc, not just a matter of paying it.
  2. M

    What happens if vendor makes a mistake on the amount to be paid on day of settlement?

    Yes, buyer's solicitors realised it. Vendor 's conveyancer would not accept the buyer's solicitors advice their calcs were wrong and insisted on settlement at the incorrect (greatly reduced) balance.
  3. M

    What happens if vendor makes a mistake on the amount to be paid on day of settlement?

    Few tens of thousands. More than 20k? No particular reason why. Just a stuff up on the side of the vendor's conveyancer.
  4. M

    What happens if vendor makes a mistake on the amount to be paid on day of settlement?

    Terry- but it did, without the vendor (or their solicitors) realising their mistake.
  5. M

    What happens if vendor makes a mistake on the amount to be paid on day of settlement?

    Interesting, interesting....thank you everyone.
  6. M

    What happens if vendor makes a mistake on the amount to be paid on day of settlement?

    Scott - the question is, if the vendor realises after the property has settled and legal title passes, does the vendor have recourse? Depends if the law favours the contracted price, or what the vendor erroneously requested as final settlement.
  7. M

    What happens if vendor makes a mistake on the amount to be paid on day of settlement?

    Just wondering....... On the day of settlement, the buyer pays the vendor the balance of the amount to settle the contract. For example, if the property was worth $500k, and the buyer has paid $50k as a deposit, the buyer has to pay 450k on the day of settlement (more or less, given...
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