I have an unconditional contract on a 3br residential in Qld due for settlement at the end of the month. All my side of conveyancing is ready for settlement, finance in place, etc..... Vendor has now asked for a 1 month extension to get some "mortgage release documents" signed by their ex-partner. My thought is there was ample time to have this happen as the vendor knew it had to be done to complete... Q - Is there any penalty interest if the vendor does not settle on the due date? Q - Is there any penalty for the vendor at all for the delay? Is there any way this could be a mechanism to terminate? I did a lowball offer that was accepted and maybe they are regretting accepting the offer.... Seems Qld has different practises as in other states the party in default pays..... Any helpful insights appreciated.