Changing Settlement Agents

[zeffy]

Thinking of changing settlement agents as I have a feeling the one I went with is a few levels below incompetent - recommended by REA

Here's the situation:

Offer got accepted last week on Tuesday, and as to my knowledge the settlement agent has not done much yet except forward me a few emails and replied to some queries. I have the paperwork with me, but have yet to sign anything. Not trying to sneak my way out, rather want a clean cut.

So the main question is:

1. Will it cost me the full fees to terminate the services or am I able to just get her to bill me for what has been done so far?

2. What other sticky situations can/will crop up?

Thanks!

 

[westminster]

Is it in Perth?
They pretty much do nothing until xx days before settlement and then do everything according to a timeline.
I don't necessarily agree with it as then there is little time to deal with situations that crop up but it does seem to be the way things are often done.

How long is your settlement and what are you expected to have happened by now?

 

[Rolf Latham]

Its JIT

standard management technique these days

ta

rolf

 

[zeffy]

Is it in Perth?
They pretty much do nothing until xx days before settlement and then do everything according to a timeline.
I don't necessarily agree with it as then there is little time to deal with situations that crop up but it does seem to be the way things are often done.

How long is your settlement and what are you expected to have happened by now?

Yes, this is in Perth.

Settlement is expected in 7 weeks, so I do not expect anything to happen yet. However, I am rather disappointed by the level of service shown so far:

1. Did not go through my offer in detail: When I asked if there was anything to highlight from the Building Inspection Report, was told everything that was good, no problems with the structure. I then highlighted the fact that one of the clauses in my offer states that if there are any defect rectification costs exceeding $10k, I have the option to discuss with vendor on price / rectification, and there are rectification needs highlighted in the building inspection report that trigger that clause. The reply I got was, "Oh, sorry for the oversight, your offer is not standard".

2. Not providing proper advice on what to do: In every email, I am reminded that they do not provide legal advice. In fact, they do not provide any advice at all, not even the process of how I would go about discussing with the vendor on my concerns (i.e. matters above). When asked, I get excerpts of what to do, which I then need to ask more questions to actually get a whole picture.

If this is what I am getting before things get rough, I am not confident I will be happy when things start heading south with these guys.






Or am I just being unreasonable?