All Topics / General Property / Settlement periods

Viewing 5 posts - 1 through 5 (of 5 total)
  • Profile photo of thistledothistledo
    Member
    @thistledo
    Join Date: 2004
    Post Count: 3
    June 12, 2005 - 12:57 pm

    How do you determine the length of time to make the settlement period ?

    Thanks

    Tamsin

    Profile photo of Fast LaneFast Lane
    Member
    @fast-lane
    Join Date: 2004
    Post Count: 527
    June 12, 2005 - 1:29 pm

    This is entirely up to you and the vendor. Typically it’s usually 30, 60, or 90 days.
    It can be whatever length of time that you both agree on.

    Profile photo of DazzlingDazzling
    Member
    @dazzling
    Join Date: 2005
    Post Count: 1,150
    June 12, 2005 - 1:35 pm

    If it’s CF=ve, I normally word it like this ;

    1. Finance clause 20 days after acceptance of offer (consult with your lender such that it’s comfortable for them)
    2. Settlement 30 days after finance clause removed. (consult with your sett.agent such that it’s comfortable for them)

    If it’s an investment and CF-ve, why not string it out as long as you can…as long as you are sure you can’t get it substantially cheaper with a short sett. period.

    Cheers,

    Dazzling

    “No point having a cake if you can’t eat it.”

    Profile photo of thistledothistledo
    Member
    @thistledo
    Join Date: 2004
    Post Count: 3
    June 14, 2005 - 3:34 am

    Thanks guys.

    My query rose from the seminar where people were talking of settlement periods of 4 months – are vendors happy to accept these ?

    Profile photo of Fast LaneFast Lane
    Member
    @fast-lane
    Join Date: 2004
    Post Count: 527
    June 14, 2005 - 5:27 am

    As long as you and the vendor agree, you could make the settlement period 4 days or 4 months.
    It’s totally upto both of you.

Viewing 5 posts - 1 through 5 (of 5 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.