Finance clause in QLD

Discussion in 'Legal Issues' started by TILT, 1st Apr, 2015.

  1. TILT

    TILT Member

    Joined:
    28th Jul, 2009
    Messages:
    35
    Location:
    gold coast Qld
    Does a subject to 14 days finance clause in Qld include weekends and public holidays? Or is it just working days?
     
  2. Peter_Tersteeg

    Peter_Tersteeg Finance broker/strategist

    Joined:
    29th May, 2001
    Messages:
    8,506
    Media:
    1
    Location:
    Melbourne
    Does it say "Fourteen days" or "Fourteen business days"?
     
  3. Terry_w

    Terry_w Member

    Joined:
    19th Mar, 2012
    Messages:
    9,610
    Location:
    Sydney, NSW
    it will depend on the wording

    "10 days" would be 10 calender days
    "10 Business days" would exclude holidays.

    Just be clear when entering the contract
     
  4. TILT

    TILT Member

    Joined:
    28th Jul, 2009
    Messages:
    35
    Location:
    gold coast Qld
    I put14 days. Forgot about public holidays. Can i add them on?
     
  5. scha9799

    scha9799 Member

    Joined:
    15th Jan, 2012
    Messages:
    316
    Location:
    Sydney,NSW
    Just ask the agent to change it and you sign the new contract.
     
  6. Terry_w

    Terry_w Member

    Joined:
    19th Mar, 2012
    Messages:
    9,610
    Location:
    Sydney, NSW
    It depends on what stage it is up to. If you have both signed then the contract would be binding, but you could change the terms with consent.
     
  7. Darlogus

    Darlogus Member

    Joined:
    6th Aug, 2013
    Messages:
    86
    Location:
    Brisbane North
    May be easier to just ask the agent to speak to the vendor and organise a few days extension due to public holidays. They will know its a genuine request and if the agent is half decent will work to get it done. This will save new contracts being done.
     
  8. GreyGhost

    GreyGhost Member

    Joined:
    17th Feb, 2015
    Messages:
    207
    Location:
    Melbourne
    Need to stipulate "business days"....
     
  9. RPI

    RPI Member

    Joined:
    17th Apr, 2003
    Messages:
    2,090
    Location:
    Brisbane
    If already signed then your solicitor to do it.

    Tactically you should wait till 4pm on the last day of the due date. It is not a deeming clause in qld so you can still terminate the next day. The seller has put more time into the transaction at that stage and less likely to say no.