Buyers and sellers of land generally succeed in completing settlement on the agreed settlement date. However, settlement may be delayed due to an unforeseen event.
The standard-form contract used in WA, known as the Contract for Sale of Land or Strata Title by Offer and Acceptance, includes a set of general terms and conditions. Of these general conditions we can make these general remarks:
If settlement is delayed by more than a few days, things can get complicated. If you’re unsure where you stand it’s best to obtain legal advice. As your independent settlement lawyers, contact us to book a 30 minute consultation ($198) or a 60 minute consultation ($385).
At Flat Rate Settlements we have state-of-the-art systems to ensure we complete your settlement in an efficient manner. If penalty interest may be an issue in your settlement, in the first instance your Flat Rate Settlements file manager will discuss your options with you.