Recent Content by shmoopty

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  1. shmoopty
    Post

    How to ensure funds have cleared before handing over keys/title?

    LOL. I think about this as though I was coding up a program - unhandled exceptions = crash and burn. But I think I'll heed your warning. Time to...
    Post by: shmoopty, 23rd Feb, 2016 in forum: The Buying & Selling Process
  2. shmoopty
    Post

    How to ensure funds have cleared before handing over keys/title?

    @Perthguy I'll dig around. I'm past critical mass in my investment in this now :)
    Post by: shmoopty, 23rd Feb, 2016 in forum: The Buying & Selling Process
  3. shmoopty
    Post

    How to ensure funds have cleared before handing over keys/title?

    @Peter_Tersteeg I agree. I was also trying to explain to my mates that their property is not that special to warrant a risk on a buyers side...
    Post by: shmoopty, 23rd Feb, 2016 in forum: The Buying & Selling Process
  4. shmoopty
    Post

    How to ensure funds have cleared before handing over keys/title?

    Assuming Terry_w is right (this is why I like refernerces :) ), once the transfer papers are in, there is no gate to ensure the funds are...
    Post by: shmoopty, 23rd Feb, 2016 in forum: The Buying & Selling Process
  5. shmoopty
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    How to ensure funds have cleared before handing over keys/title?

    Thanks @Perthguy. Makes good sense. Will use that for my flowchart :) Do you have any references I can use to verify those steps and/or provide...
    Post by: shmoopty, 23rd Feb, 2016 in forum: The Buying & Selling Process
  6. shmoopty
    Post

    How to ensure funds have cleared before handing over keys/title?

    Thanks Peter. I concur with your thoughts on the probability that things will go wrong is very small. The other part of the risk equation is the...
    Post by: shmoopty, 23rd Feb, 2016 in forum: The Buying & Selling Process
  7. shmoopty
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    How to ensure funds have cleared before handing over keys/title?

    Thanks Terry_w. Your input has been invaluable. I also found a discussion on electronic transfers here: Buying a property.. what happens in the...
    Post by: shmoopty, 23rd Feb, 2016 in forum: The Buying & Selling Process
  8. shmoopty
    Post

    How to ensure funds have cleared before handing over keys/title?

    Terry_w, this sounds like there are proper processes in place to protect the vendor. Could you point me to any references that your comments are...
    Post by: shmoopty, 23rd Feb, 2016 in forum: The Buying & Selling Process
  9. shmoopty
    Post

    How to ensure funds have cleared before handing over keys/title?

    Thanks @JacM. The conveyances apparently said "don't worry, she'll be right". Guess what that did to my mates stress levels :) So I'm trying to...
    Post by: shmoopty, 23rd Feb, 2016 in forum: The Buying & Selling Process
  10. shmoopty
    Post

    How to ensure funds have cleared before handing over keys/title?

    Thanks Terry_w. Who would you be making the claim with? How long would it take? Who owns the house in the mean time? Fully agree from the...
    Post by: shmoopty, 23rd Feb, 2016 in forum: The Buying & Selling Process
  11. shmoopty
    Post

    How to ensure funds have cleared before handing over keys/title?

    Thanks DaveM. I may be using the wrong terminology. The concern is that under certain circumstances, the cheque may not be paid, e.g. fraud (refer...
    Post by: shmoopty, 23rd Feb, 2016 in forum: The Buying & Selling Process
  12. shmoopty
    Post

    How to ensure funds have cleared before handing over keys/title?

    Thanks JacM. That is my understanding as well. But the key word in your reply is normally. I am trying to understand just how much this process...
    Post by: shmoopty, 23rd Feb, 2016 in forum: The Buying & Selling Process
  13. shmoopty
    Thread

    How to ensure funds have cleared before handing over keys/title?

    Hi, I'm a newbee so please be gentle ;) I am trying to understand the transaction process of funds/title/key transfer. My friends sold a property...
    Thread by: shmoopty, 23rd Feb, 2016, 83 replies, in forum: The Buying & Selling Process