Browse Forums Building A New House 1 May 29, 2015 1:00 pm OMG has anyone else had issues with settlement being delayed?? My solicitor/broker/bank & their solicitor don't seem to know how to get on the same page and we have just been delayed for the second time this week! I am so angry! Do you guys have any idea what the implications might be if we don't execute settlement in a timely fashion? and can the bank just suddenly decide to change the disbursement amount on the day of settlement and advise that you now need to pay the shortfall.. which as a total would actually mean you have outlaid 5% more in deposits than you are actually required? because the bank didn't take into account the deposits already paid directly to the developer and builder throughout the contract process.. Re: Settlement Issues help!! 2May 29, 2015 1:11 pm i remember when i bought my first house i received a letter on friday advising settlement would be delayed loan was subject to being finalized by certain date in a panic i found name of conveyancer and phoned every listing in phone book with that name he was not impressed that i phoned him at home he said not to worry about it, this sort of thing it happens all the time basically it is just us nervous types that panic try to remain calm Re: Settlement Issues help!! 3May 29, 2015 4:22 pm Settlement on my block was delayed by over a month, and I was getting quite frustrated that no one could get their you know what into gear. In the end it happened, you just have to be patient (I know it is hard to be when the whole process is new to you). Re: Settlement Issues help!! 4May 29, 2015 8:10 pm Thanks for your responses... it has been one hell of a stressful day... it would seem this is almost common practice hahaha. This is my second house, but first time building, so the process has been completely different to the first time, and I must say, SO much more stressful than the first time.. apparently all is good now and settlement has been rescheduled for next Friday, so fingers crossed they can all get the A's into G and make it happen! Re: Settlement Issues help!! 5May 29, 2015 8:45 pm You have three days grace without penalties hope that helps I am looking at building a house. Has anyone used Construkt Homes (based in Adelaide)? Does anyone have experience with this builder? 0 6451 12 5327 Industry type domestic contracts are prepared by industry bodies for the benefit of the builders. This means that if you are the owner watch out. One of the points is… 0 3226 |