Jun 07, 2011 2:11 pm
Has anyone had this problem before? We settle on the same day for our new house and old house meaning that we have to vacate our old house before settlement but cannot move into our new house before settlement. What did you do to get around this? Settlement in Sydney normally happens around 2pm, I think we might have to hire removalists for the morning leave all of our stuff in their truck for the day until we can get the keys for the new place but this will cost a fortune!
Re: Settlement on same day for new and old place, moving nig2
Jun 07, 2011 4:57 pm
Your problem isn't unusual.
It's going to take the removalist most of the morning to pack the truck. So you you may be up for a couple of hours standing time, shouldn't be too bad unless the lawyers are slow settling.
The Harder You Try - the Luckier You Get !
Informative, Amusing, and Opinionated Blog - Over 600 posts on all aspects of building a new house.
Re: Settlement on same day for new and old place, moving nig3
Jan 12, 2012 1:37 pm
Whenever we move, the removalists come and pack up all our stuff the day before the move takes place. They come about 7am, pack all day until 7pm and then come back on moving day at about 8am to transport it to the new place.
Usually they leave the new place by about 4pm. So it takes a long time (we have a LOT of stuff, mind you), so could you not have them come later on moving day? Like say, 11am at your old place and be at the new place around 2.30pm - 3pm?
If not possible, most removalists will hold your contents in their own onsite storage. It'd be a small fee to do this, since it'd only be 1 day. You could just have them come to your old place in the morning, pack everything up, transport it to their storage place, and then book into a cheap (but maybe nice!?) hotel or motel for a night, or even stay with friends or family, and then collect the keys and get settlement sorted with the new place, and then the next day move in.
The situation is not ideal, but there are always ways around these sorts of things.
How the hell did I become a senior member!? I know nothing!
Re: Settlement on same day for new and old place, moving nig4
Jan 12, 2012 2:16 pm
Oh you poor things, we have moved 6 times in the last 9 years and, not to scare you but, the only move that I found stressful was the 1 move that we had settlement on the same day!!!
Moving companies would deal with this kind of thing frequently and they would all have policies about what happens if settlement is delayed... ring around a few companies, tell them you have settlement at the same time and they will give you advice on what to do and give you quotes. Some companies may use that time as a lunch break and not charge you.... but I think that is wishful thinking.... they charge a fortune but if you have ever moved yourself, you will understand why they charge so much!!!!
I agree with Bashworth that it is going to take most of the morning to pack the truck.... we were only moving around the corner (about 1km)... we had settlement at 1pm on both properties... there is a long story that goes here.... read... blah blah blah blah, we were still moving stuff out of one door while the new owners were moving stuff in through another door, cleaners still dry cleaning floors, cleaners still wiping out cupboards, it was chaos... luckily the new owners were great and were super excited to talk to us about the house!!!!
Point is that we were still moving stuff out of the house just before 4pm (we do have a bit of stuff and were moving from 2 storey and into 2 storey which would add time). It usually works out okay if you are well prepared and know that it is going to cost a little extra if delays occur.
Good luck.... just do your homework and ring as many companies as possible, they range in price and in insurance options!
My building thread: viewtopic.php?f=38&t=51010
Re: Settlement on same day for new and old place, moving nig5
Jan 15, 2012 9:40 pm
i have done this 3 times.
i assumed it was normal and it is what i aimed for each time on the assumption it would all work out LOL
i have had the movers come in in the morning and move (i have packed everything myself with the exception of the kitchen last time) and then i cleaned as they removed stuff .
raced to the new place (no more than half an hour each time) and got keys and raced to let the movers in to the new place.
i just assumed that the legals would be done on time and correctly and they must have been.
last move was 10 years ago
never had a trauma and i am hoping i have the same luck next time.
i will never clean behind myself again tho. i am so glad that cleaners seem to be part and parcel of the whole deal nowdays.
i think this time i will ask more questions after reading everyones replies here
i have a dog of delicate sensibilities who will be vastly traumatised and a management problem for the move so i dont want to prolong it over two days
there is a LOT of stuff this time around
Re: Settlement on same day for new and old place, moving nig6
Jun 20, 2012 2:41 pm
Hi. We will be moving in 3 weeks. Initially, we had same day settlement for purchase and sale but after reading up on what can go wrong and also the potential costs associated ie
- paying the removalist to sit in the truck while settlement occurs
- having to store items if settlement is delayed
- accomodation if you have nowhere to live if your sale settles but purchase doesnt
- vendor hasnt moved out yet after settlement (happened to friends)
So we decided to settle the purchase one day earlier. Only extra cost is the interest cost for holding the loan for the extra day. Also give us time to clean new place before we move in and get some work done (change locks, alarm system etc). If your bank allows, then i would recommend you delay the settlement on your sale by at least one day or move settlement on your purchase earlier. Good luck!
Re: Settlement on same day for new and old place, moving nig7
Feb 19, 2013 5:33 pm
2 houses ago, we had a drama with the same day settlement on the sale of our old house and the settlement on the new house. The buyer of our old house's bank turned up at settlement with their cheque. Instead of it reading $760,000, it said $706,000 (a big typo in the wrong direction!).It was Easter Thursday and settlement didn't take place until after the holidays. We couldn't move into our new house because we didn't have the funds to settle either. And then there was the penalty for not settling on the new house, part of which was offset by the penalty we charged the buyer of our property. The house contents went into storage (unloaded from the truck) and we got charged storage costs and a second truck charge. We spent the next week sleeping at my mums on the lounge room floor with 2 young kids and no clothes (all the stuff was packed away on the truck!). Ended up the bank paid all the costs after a long battle (even for the new clothes we had to buy!).
Re: Settlement on same day for new and old place, moving nig8
Jan 09, 2014 3:33 pm
Hi all. I am about to make an house move, next week. I am searching very hard for removals companies and provider of self storage in Surry hills. But, all in vain. Do anyone here knows any self storage services in and around the town.
Re: Settlement on same day for new and old place, moving nig9
Jan 09, 2014 4:08 pm
Hi all. I am about to make an house move, next week. I am searching very hard for removals companies and provider of self storage in website deleted. But, all in vain. Do anyone here knows any self storage services in and around the town.
If you've been looking "all in vain" then that company you posted a link to must be really bad hey?
Re: Settlement on same day for new and old place, moving nig10
Jan 09, 2014 8:32 pm
There a few. There's kennards on Bourke st Alexandria, there's another opposite the Moore park super centre and few more places can be found advertised in the Wentworth courier.
http://camdenbuild.blogspot.com.au/ by invite only please pm me
Re: Settlement on same day for new and old place, moving nig12
Jul 04, 2016 8:42 am
Sometimes your just lucky if the REMOVALISTS turn UP AT ALL!
On a double settlement my booked removalists took too long at their first job of the day and called me to CANCEL. Usually people are understanding, call the realtor and the new owners and get a days grace if you get stuck. Just communicate.
Sign in or Join to reply to this Topic
TashPaulSettlement, what is the procedure?Settlement, what is the procedure?
The bank will only pay what they are invoiced, but you want to make sure the final invoice is correct. As above ask them for a final invoice with the relevant deductions…
smithfamilySimonds PCI/Settlement ExperiencesSimonds PCI/Settlement Experiences
We're approaching our PCI day in the next couple of weeks and was wondering, for anyone out there that has built with Simonds, what sort of time frames you experienced…