All Topics / Help Needed! / Settlement Adjustments

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  • Profile photo of dammitdammit
    Join Date: 2005
    Post Count: 43

    Hi All

    Just wondering if anyone knows when in the buying process you usually find out exactly how much in adjustments is due at settlement (like for things such as Council Rates, Water Rates, and anything else??)

    Is it usually a couple of weeks before settlement or more a couple of days before settlement??

    We are settling on a NSW property in 3 weeks time & was just wondering because we haven't found out yet.

    Thanks all.

    Profile photo of raddlesraddles
    Join Date: 2006
    Post Count: 187

    Hi there

    your solicitor/conveyancer would be doing some inquiries (i.e. inquiry with Council) which would lead to finding out those details. 
    Often the buyer's solicitor puts forward their proposed adjustments then the vendor's solicitor says how he wants the cheques to be drawn.
    Why not contact your conveyancer and see what details they have?

    Profile photo of jenstajensta
    Join Date: 2007
    Post Count: 17

    We recently settled on a property in NSW.  We only found out the costs about 2-3 days before settlement. Depending on when your solicitor requests the information on rates, water, etc you could probably find out the details earlier than that

    Profile photo of diclemdiclem
    Join Date: 2003
    Post Count: 537

    My settle ment is due tomorrow, and the vendors solicitor has only just let my solicitor know the bank cheque details.
    I need to drop off a bank cheque, which I only just got details of, by 3.30 today and its already 2pm!
    So I'm off now, lucky I don't have far to go…

Viewing 4 posts - 1 through 4 (of 4 total)

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