[blush2]
Hi Guys
I know someone out there has had long settlement experience, I just wanted to know how it all turned out. Did you arrange for the deal with the owners still in the property or was it a long settlement when vacant?
Feeling neglected as alot of people read yesterdays post but I didn’t have anyone asnwer.
Many thanks
Jenny
Jenny Jordan
I have had long settlements, but be very careful about insurance. Check with your insurance company as usually the house won’t be covered after 30 or possibly 60 days. My understanding is also that if you go on a long holiday and leave your own house empty, insurance would be denied. I imagine many folks who go away for several months don’t know this. Insurance company we were involved with wouldn’t even accept someone moving in with say just the basic bed and couch, in a “caretaker” role. It had to be genuine “moving in”.
My parents bought their own home using a three month settlement. Vendors agreed but had suggested earlier settlement and said they’d rent back for a couple of months. Just make sure the house isn’t left empty.
This is my experience, others may have other thoughts.
Hi
A long settlement does not necessarily mean the property will be left vacant. Many owners need a long settlement to arrannge their affairs and will continue to live in the property until very close to setttlement. I guess they sell early for peace of mind.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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