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From: Shelly R
G'day All,
Recently I was charged $845 penalty interest by the vendors on settlement for
going over the due settlement date.
The reason being both the lenders solicitors and mine were both slow and in my opinion hopeless.
I purposely arranged for a 42 day settlement
due to my negative past experiences with solicitors being slack.
This time around I lost count of how many phone calls I made pushing on both sides to
get them to complete.
I'm now working to get compensation from both solicitors.
How can I safe guard against this happening again?
A longer settlement could be a solution but could also prevent a sale.
If the vendor particularly wants a quick settlement this can be a significant aspect of the negotiations.
I'd like to ad a clause to my contract,
noting that the solicitors will pay any over due penalty when they are are the cause.
I'm certain I did everything I could to hasten this settlement.I'm not the one responsible for stuff ups like actually forgetting to send the mortgage documents to
my solicitors!
Cheers Shelly R
G'day All,
Recently I was charged $845 penalty interest by the vendors on settlement for
going over the due settlement date.
The reason being both the lenders solicitors and mine were both slow and in my opinion hopeless.
I purposely arranged for a 42 day settlement
due to my negative past experiences with solicitors being slack.
This time around I lost count of how many phone calls I made pushing on both sides to
get them to complete.
I'm now working to get compensation from both solicitors.
How can I safe guard against this happening again?
A longer settlement could be a solution but could also prevent a sale.
If the vendor particularly wants a quick settlement this can be a significant aspect of the negotiations.
I'd like to ad a clause to my contract,
noting that the solicitors will pay any over due penalty when they are are the cause.
I'm certain I did everything I could to hasten this settlement.I'm not the one responsible for stuff ups like actually forgetting to send the mortgage documents to
my solicitors!
Cheers Shelly R
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