Biggest Settlement Day of the Year

[RPI]

Today is the busiest settlement day of the year. There will be thousands in Brisbane CBD alone.

It's amazing how many people plan their purchase/sale so that they can settle just before Christmas, very organised. I have 2 grads plus 3 solicitors on top of my settlements clerks going around to settlements today.

We don't close over the Christmas New Year period as we have way too many settlements in that time. It suits the younger solicitors who don't have kids yet as they don't lose the 7 days from their leave and can holiday when all the families are not around and accommodation is cheaper.

So if you are in the Brisbane CBD between the banks head offices, the settlement rooms in Edward St or titles in Albert st and see (mostly) girls running around madly between 1 and 5pm with arms full of documents you know why.

 

[Perp]

Today is the busiest settlement day of the year. There will be thousands in Brisbane CBD alone.

That's why we settled yesterday - avoiding the busy time.

Thanks to your staff for a friendly and professional service.

 

[Peter_Tersteeg]

One of the industry articles I read last week indicated that today was anticipated to have the highest number of settlements ever recorded. We've got several settlements happening today.

I get why owner occupiers want to settle prior to Christmas, they can move house during the holidays.

Not really a good outcome for investors purchasing though. It almost guarantees a 3 week vacancy if there isn't an existing tenant. In some states it also makes the new purchaser liable for land tax.

All that said, we've also got a lot booked in for January and February as well. It's been a busy year.

 

[Jamie M]

All that said, we've also got a lot booked in for January and February as well. It's been a busy year.

Tell me about it. Still submitting purchase applications as we speak. Won't complain though

Cheers

Jamie

 

[INVSTOR]

That's insane! My settlement was suppose to be today but thankfully moved forward a week and a half earlier. Only vaguely know where Xmas gifts are stored - may have to last minute replace some, ordered everything on kids book lists as I have no idea what I already have, think I should give up on getting son's helicopter fixed for Xmas, no idea where that is. Stupid time to move

 

[VaSSagO]

I spoke to my settlement agent last week, was looking like she would have ~35 settlements to do on Christmas Eve

 

[Terry_w]

Why does everyone want to settle at Christmas when it is busy?

 

[EN710]

Why does everyone want to settle at Christmas when it is busy?

One big tick box out of the way, per this year resolution?
Imagine going for holiday and say "Yeas, all sorted, we just bought a house before Christmas and now just need to relax" no "I can't spend now, property settling in January and we have a lot of outgoings for that
"

 

[INVSTOR]

Why does everyone want to settle at Christmas when it is busy?

My property was on the market 4 months ago. By the time interested buyers did three inspections and we received an offer we'd accept almost 3 weeks had past. Buyer was advised to make a long settlement of three months since he was fifo and not around often. I jumped on opportunity as hadn't found next house. Then I experienced the joys of bad finance structuring decisions, slack service from lending manager (took about a month to get answered what forms to fill in for security swap, etc) crossed properties, ridiculously low valuations so moved to plan B with another bank. Plan b also quickly went bad due to a long vacancy in IP. Buyer realised he didn't need the three months after all and wanted to settle after 6 weeks from offer. In the end was held up by banks and banks solicitor. In hindsight it would have been much better to sort finances way in advance!

 

[Heinz57]

Who is inspecting at this time of year? I have one tomorrow and one Tuesday

 

[jrc]

We listed on 28th nov, inspection appointment made on 1st Dec, inspected 3rd Dec, offer made 3rd Dec that they would pay our asking price if they could get possession before Christmas. Removalists coming tomorrow. Average days on market this town are 213. You have to take it when it is available.

 

[Angel]

We are looking at a house this afternoon. It has been on the market at least three months so far. Hubby and I decided yesterday to consider it. Good to know Daryl's office will be open next week.

 

[RPI]

Busy day today so far, contracts flying in with weekend contract dates, haven't spoken to any agents yet but looks like it was a good weekend from what I have.

 

[danwatto]

Got the girlfriends purchase settling today, existing tenant so no vacancy issues

Wish mine was settling today too but trying to negotiate an extension instead. I don't think we will buy this time of year again, too stressful trying to squeeze everything in before Christmas.

 

[INVSTOR]

Looking at a property today. Considering another property I looked at months ago, price has been dropping on it.

 

[skater]

I've got a settlement happening today. It was supposed to settle last Wednesday, but due to the hostage situation in Sydney last Monday, all the Monday settlements were done on Wednesday, which meant there was a problem with getting some of the Wednesday ones done. It better settle today, or I won't be a happy camper.

 

[antistar]

Settled two weeks ago knowing I will cop land tax and no tenants for at least a month. Tried to push vendor for jan settlement with no luck but deal was too good so it is worth it in my books