My O+A contract states settlement to be 28 days from finance approval, which makes it 2nd April. The bank has now called me to say settlement has been booked for 28th March and they're asking for a revised certificate of currency from my insurance company. I asked if this change was necessary and they said yes due to their funding date.
I won't be ready to move in until 3rd April, therefore tenants won't be paying rent (for my current residence) for an extra week (I was thinking of pushing settlement out to 4th April(payday)).
Can the bank decide the settlement date? And if not, is it advisable to insist on my preffered date?
The bank doesn't decide on the settlement date – it's agreed upon by the vendor and buyer in the contract.
If you want to delay it – ask you conveyancer to put this request to the vendor. I don't think it's an unreasonable request giving the timing.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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