- DOUGADCOCKParticipant@dougadcockJoin Date: 2012Post Count: 22
when buying a property , Do i pay the costs to the owner when i sign the contract or on the settlement date???DerekMember@derekJoin Date: 2004Post Count: 3,544
All costs are payable at time of settlement. This is something your lawyer/conveyancer will advise you on.
If you organise inspections as part of your due diligence these will be payable by you prior to settlement and in accordance with your contractors conditions of sale.DOUGADCOCKParticipant@dougadcockJoin Date: 2012Post Count: 22
Thanks derek for clearing that up for me.DerekMember@derekJoin Date: 2004Post Count: 3,544
If you are paying your deposit and purchasing costs from a line of credit you will need to move your funds into the solicitors/conveyancers trust account in sufficient time for them to be cleared ready for settlement day.
Once again your solicitor/conveyancer will be able to give you an accurate estimation in time for you to transfer funds across.