Post full of noob questions about settlement in NSW

Discussion in 'The Buying & Selling Process' started by Polish Dumpling, 19th Dec, 2021.

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  1. Polish Dumpling

    Polish Dumpling Member

    Joined:
    8th Sep, 2021
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    Location:
    Sydney
    Hello everyone,

    I found a property (in NSW), but the vendors want extended 12 week settlement. I'm trying to negotiate a shorter settlement period.
    But does it even has sense? Even in the case they agree to a 6-week settlement, they can easily turn it into 8-week one, right? I.e. to my understanding vendors don't take any penalties if they're being issued a Notice to Complete.
    And even after 2 weeks past the issuing of the Notice to Complete, what are my options realistically speaking? If I decide to terminate the contract, it's going to take forever to get my deposit back, right?
     
    Polish Dumpling, 19th Dec, 2021
    #1