BTW,  I checked how the amount claimed was calculated. The sale was $1,050,000 and according to the Plaintiff (buyer) general condition No 4 of the contract allows penalty of 9%  for late settlement which he calculated at 366 divided by 6 days which gives a claim of $1549.20. Not sure why he used 366 days not 365.I note previous advice that this o…[Read more]

Thank you, I am working out how the actual amount claimed was arrived at, but I was of the view that once settlement has been made, there is no recourse to claiming penalty interest, as you have also confirmed.  But some say to me that there is still some options for the buyer to claim general damages – not sure on that.

As stated in my original post, the buyer wanted the kitchen renovators access on the 12th May, 08 – this I agreed with buyer and then in turn agreed to amend settlement date to 13th May from 7th May on that condition i.e. access by kitchen renovator.But when they subsequently learned from my agent that access did not mean that any structural work…[Read more]

The claim is for $1500 so it is worth defending.