Always the solicitor

I do have to chuckle when I often hear advice about "must use a solicitor" for property settlements.

I use a conveyancer - with 40 years experience and seen every scenario known to man - and every time there is a settlement "stuff up", it's the other parties solicitor. Including today's.

I love my conveyancer :D ... he even know nitty gritty stuff like dashed line stratas, and caravan park purchases and subdivision legals ...
 
I do have to chuckle when I often hear advice about "must use a solicitor" for property settlements.

I use a conveyancer - with 40 years experience and seen every scenario known to man - and every time there is a settlement "stuff up", it's the other parties solicitor. Including today's.

I love my conveyancer :D ... he even know nitty gritty stuff like dashed line stratas, and caravan park purchases and subdivision legals ...

So, did your settlement go through? I'm still waiting to find out if mine did.
 
Was down for 11am ... now 2pm, car packed with reno items and still waiting. Solicitor messed up the settlement docs (statements and invoices) ... seriously ... how long does it take to type up up corrected docs?

What are you buying?
 
Was down for 11am ... now 2pm, car packed with reno items and still waiting. Solicitor messed up the settlement docs (statements and invoices) ... seriously ... how long does it take to type up up corrected docs?

What are you buying?

Not buying, selling. Mine had wrong docs too. It was supposed to settle last Monday, then rescheduled for Wednesday after they fixed the docs, but they were too busy with settlements that were postponed from Monday, due to the hostage situation.

Mine was supposed to settle at 12noon. Still no word! Grrrr!
 
I do have to chuckle when I often hear advice about "must use a solicitor" for property settlements.

I use a conveyancer - with 40 years experience and seen every scenario known to man - and every time there is a settlement "stuff up", it's the other parties solicitor. Including today's.

I love my conveyancer :D ... he even know nitty gritty stuff like dashed line stratas, and caravan park purchases and subdivision legals ...

fine if all you need is a straight forward transfer of titles.
 
I do have to chuckle when I often hear advice about "must use a solicitor" for property settlements.

I use a conveyancer - with 40 years experience and seen every scenario known to man - and every time there is a settlement "stuff up", it's the other parties solicitor. Including today's.

I love my conveyancer :D ... he even know nitty gritty stuff like dashed line stratas, and caravan park purchases and subdivision legals ...

I don't know about that one ,it's like walking past all those people in the shopping malls before and after the end of the fin year,they may do a good job then again for a few hundred dollars more you can employ a Accountant face to face,the same as conveyancers vs Solicitors iv'e had some real problems over the years long settlements with lost titles,vendors overseas ,so many that I just think for the extra money I rather use a Solicitor ,and just because it always goes ahead ok ,it only takes one time
to blow everything out of the water..
 
iv'e had some real problems over the years long settlements with lost titles,vendors overseas ,so many that I just think for the extra money I rather use a Solicitor ,and just because it always goes ahead ok ,it only takes one time
to blow everything out of the water..

We've had all that ... and considerably more ... during my investing career, and he's handled each and every situation perfectly to conclusion.

Bit like my SMSF accountant ... that's all he does, knows it inside out and upside down and, because that's all he does, he's brilliant at every facet ... however ... because he doesn't have all the other "hanging on" stuff, he's also cheaper
 
Grrrr! Just heard the purchasers don't have the funds to settle in their account. Pushed back to late this afternoon to see if they can sort themselves out.
 
Grrrr! Just heard the purchasers don't have the funds to settle in their account. Pushed back to late this afternoon to see if they can sort themselves out.

I hate it when people do this, not like it is a surprise they need the money, they did know it was coming :mad:
 
I hate it when people do this, not like it is a surprise they need the money, they did know it was coming :mad:

The buyers account or the solicitors account? Could be their dodgy solicitor gave them the wrong amount to transfer to the trust AC :eek: If they are typing up settlement docs again.. possible.
 
Damn! Fell over again!!!:mad:

I hate it when people do this, not like it is a surprise they need the money, they did know it was coming :mad:
:mad: Me too!
The buyers account or the solicitors account? Could be their dodgy solicitor gave them the wrong amount to transfer to the trust AC :eek: If they are typing up settlement docs again.. possible.

No, it was the purchaser! The first time it was the Solicitor. This time they just didn't have the money in the right account.

Apparently they got their act together, but it was too late. Cheques are now drawn for settlement tomorrow. If it doesn't go through tomorrow, we will have to wait until the 5th January.

NOT HAPPY! :mad:
 
Bugger! Feel for you ... after the vendors solicitor mucked up and now fixed the invoices, that would've cost us a bucket load in tax ... we've managed a "partial" settlement because - ta da - the vendors solicitor "forgot" to notify the vendors mortgage bank for release of title.

Doh :rolleyes:

So, the legal guys arranged for partial settlement - we release the banks cheque only - in exchange for access ... but ... :rolleyes: ... didn't happen until right on 5pm so the cheques can't be deposited and hence real estate can't release the keys ...

ferk ferk ferk!

At least I got my passionfruit plantation planted today :eek:
 
I feel for you too!

It seems incompetence is all around.:(

At least I got my (large) order off to my supplier. I hope they can organise this prior to Christmas so I can get it booked on the first ship available. Stock is really low at the moment.
 
Penalty interest?

I've made a similar mistake with funding once.... never again.
Who would have thought i needed to have a form signed saying that I wished to access the credit in my loan (when the loan had a status of $xxx available funds).

Top that up with there's a limit of $25k per day. Unlimited over the counter, but takes 5 days to process :(


On another note, what about land tax? Will you be up for it? Is there anyway to claim that against them?
 
Penalty interest?

I've made a similar mistake with funding once.... never again.
Who would have thought i needed to have a form signed saying that I wished to access the credit in my loan (when the loan had a status of $xxx available funds).

Top that up with there's a limit of $25k per day. Unlimited over the counter, but takes 5 days to process :(


On another note, what about land tax? Will you be up for it? Is there anyway to claim that against them?

If it drags onto 5th Jan, then yes, I'll be liable for Land Tax, but they've already signed an authority that it passes on to them with the property, so I'll only have to pay the equivalent of 5 days & they get slammed with the rest.
 
I do have to chuckle when I often hear advice about "must use a solicitor" for property settlements.

I use a conveyancer - with 40 years experience and seen every scenario known to man - and every time there is a settlement "stuff up", it's the other parties solicitor.
Buying in Victoria for the first time I was advised to hire a solicitor, so I hired one who came highly recommended by a number of people. My solicitor was useless and stuffed up my settlement and I had to pay penalty interest. I have a 100% failure rate with settlement solicitors:
first property: vendors bank's solicitor did not turn up to settlement
second property: my solicitor stuffed up the paperwork and delayed settlement
third property: my bank's solicitor stuffed up the loan doc special conditions then issued wrong cheque instructions. I actually stepped in on that one and got settlement a couple of days early :D
I have never had an issue with a conveyancer in any of my settlements. Funny that! :p
 
Buying in Victoria for the first time I was advised to hire a solicitor, so I hired one who came highly recommended by a number of people. My solicitor was useless and stuffed up my settlement and I had to pay penalty interest. I have a 100% failure rate with settlement solicitors:
first property: vendors bank's solicitor did not turn up to settlement
second property: my solicitor stuffed up the paperwork and delayed settlement
third property: my bank's solicitor stuffed up the loan doc special conditions then issued wrong cheque instructions. I actually stepped in on that one and got settlement a couple of days early :D
I have never had an issue with a conveyancer in any of my settlements. Funny that! :p

Yep! ... :D

Not only did the vendors solicitor draw up only one settlement invoice, when there are two entities buying the who property/business ... but they also "forgot" to advise the vendors' mortgage bank ... think it settled today ... hope so as hubby's ripped up two shower floors and I've replaced half the crappy furniture.
 
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