Settlement with credit card

Discussion in 'The Buying & Selling Process' started by ATANG, 1st Feb, 2018.

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  1. ATANG

    ATANG Well-Known Member

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    Has anyone tried paying the settlement or at least a partial of it using credit card? Would vendor solicitor normally accept cc?
     
    ATANG, 1st Feb, 2018
    #1
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    Maybe $1k on your deposit but they'd probably make you wear the bank fees.
     
    Scott No Mates, 1st Feb, 2018
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  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    [QUOTE="ATANG, Would vendor solicitor normally accept cc?[/QUOTE]

    Very unlikely.
     
    Terry_w, 1st Feb, 2018
    #3
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Rolf Latham, 1st Feb, 2018
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  5. ATANG

    ATANG Well-Known Member

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    I know there will definitely be surcharge but would they still do it?
     
    ATANG, 1st Feb, 2018
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  6. The Y-man

    The Y-man Moderator Staff Member

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    You must have one hell of a limit on your card! :eek:

    The Y-man
     
    The Y-man, 1st Feb, 2018
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  7. melbournian

    melbournian Well-Known Member

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    done it before on settlement of land (directly with the developer on the day of settlement) i mentioned this before i signed the contract. no biggie - u add the money into the card
     
    melbournian, 1st Feb, 2018
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  8. ATANG

    ATANG Well-Known Member

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    Yeah, thats what i did with paying the deposit, but just not sure about the settlement.
     
    ATANG, 1st Feb, 2018
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  9. melbournian

    melbournian Well-Known Member

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    what did you buy now ? u're one of the guys pushing up the melb market price with these cash buys LOL
     
    melbournian, 1st Feb, 2018
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  10. ATANG

    ATANG Well-Known Member

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    o_O
     
    ATANG, 2nd Feb, 2018
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  11. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Paying by card may involve a 24+hr delay before solicitor gets cleared funds and then may add a surcharge. Dont assume that you can refinance the borrowed funds and get full deductibility either.
     
    Paul@PAS, 2nd Feb, 2018
    #11
  12. ATANG

    ATANG Well-Known Member

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    Of cuz this is under the assumption of paying by cash. :)
     
    ATANG, 2nd Feb, 2018
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  13. Mel Morgan

    Mel Morgan Sydney Property Manager Business Member

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    You could potentially get a heck of a lot of points!
     
    Mel Morgan, 2nd Feb, 2018
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  14. ATANG

    ATANG Well-Known Member

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    ;)
     
    ATANG, 2nd Feb, 2018
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    Tom Rivera likes this.