Delayed Settlement

Discussion in 'Loans & Mortgage Brokers' started by albanga, 27th Aug, 2015.

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  1. Perp

    Perp Well-Known Member

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    I don't see how auctions prevent delays at settlement. :confused:
     
  2. Dustin M

    Dustin M New Member

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    4th Aug, 2015
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    australia
    South Australia charges default interest normally within a week it doesn't get charged. I have heard of someone having their contract ripped up in QLD though.

    On a slightly different note in SA a subject to finance clause expiring does not automatically terminate the contract. The vendor generally has to give formal notice of their intent to terminate the contract and give the purchaser reasonable time (normally a week) to rectify eg go unconditional.
     
  3. Corey Batt

    Corey Batt Well-Known Member

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    Not exactly true - the vendors can charge default interest the day it's late, a number will be nice and not enforce for a few days however.
     
  4. Dustin M

    Dustin M New Member

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    Sorry should have placed a comma inbetween interest and normally. Yes they are entitled to from day one