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I am so confused…. We have paid the vendor our part that’s on the adjustment agreement which is $900 out of total $1200 for the financial year. The fee has been included in the total amount of money that we have to put in our account before the settlement date which have already been taken by the vendor.
The council rate due date was on 28/02/2018 and 30/05/2018. Both of the dates are before 30/06/2018… I still don’t understand that even the settlement adjustment agreement says we paid the vendor for the council rate up to 30/06/2018, why do we have to pay that amount again to the council?
It really sounds like we are paying for the same period of council rate twice.
Thank you guys for your quick reply @benny @terryw
There were many back and forth emails between me and my solicitor just to trying to chase up with the issue.
My solicitor forwarded the bills, overdue notice and the settlement adjustment agreement to vendor’s solicitor and he replied us saying his client is going to pay.
I am not sure how they process the money and it is quite hard to talk to my solicitor, she seems like not wanting to explain things.
Usually at settlment, in NSW at least, the purchaser will take into account the unpaid rates etc and receive a credit for this at settlement from the vendor but the new purchaser will actually pay the rates. Sometimes a cheque is requested from the vendor made out to the council and this is forwarded to council for payment after settlement.
“Council Rates adjusted on $1,200.00 for financial year as paid to
30/06/2018 – proportion payable by purchaser 284 /365 days”–$***Above is the line for the council rate in the settlement adjustment statement. So it seems to me that we have already paid our part of council rate to the vendor but they are holding the money up and not forwarding to the council.
I am utterly confused with this thing…
I don’t know which action would be wise to do:
Keep waiting until they pay?
Pay for it now and request a refund from vendor?
PS we are in NSW as well.
Thank you so much guys
