Myself and my investment partner have a contract to purchase a property in Western Australia. We asked for early settlement because I am travelling in July and the house needs renovating, so we wanted to get some work done before I leave. There have been some delays in settlement while the seller and the sellers bank got some things sorted. We were advised yesterday that the sellers bank would not set a settlement date due to an undisclosed reason. According to the contract, the deadline for settlement is Monday. Today my investment partner called the real estate agent and asked him to: 1) advise the seller to contact their bank rep and let them know that if settlement does not occur by Monday, the buyers will be seeking penalty interest. 2) advise the seller's settlement agent to advise the bank in writing that if settlement does not occur by Monday, the buyers will be seeking penalty interest. This afternoon we were advised that settlement will be on Friday. Fingers crossed that it will happen this time. Out of interest the issues have been: 1) a caveat on title, registered after the contract was signed, that the seller's settlement agent did not know about 2) an undischarged Retail Lease - Bank Guarantee, with the property under contract as security, relating to a business that the seller sold last year 3) undisclosed issue at the seller's bank This is one of our more interesting property purchases.