I haven’t got much expertise in this topic. Could anyone help me with the following?
1) What is an unconditional settlement term?
2) What is considered a short settlement term?
3) What is the maximum settlement term that can be negotiated?
4) In a seller’s market, what tactics can be applied for delaying settlement?I haven’t got much expertise in this topic. Could anyone help me with the following?
Happy to help (not an expert advice)
1) What is an unconditional settlement term?
It’s the time period between when all conditions set at the exchange has been fulfilled to the settlement.
2) What is considered a short settlement term?
Anything under 30 days, I guess.
3) What is the maximum settlement term that can be negotiated?
No such limit as far as I know. Vendor Finance, for example, can easily last even 25 years.
4) In a seller’s market, what tactics can be applied for delaying settlement?
Depends on the vendor’s needs, I guess. Solutions could be around higher purchase price and/or interest paid on balance.
Hope this helps?
Merry Xmas!
EthanEthan | Terrapodean - Make Home Happen
http://www.terrapodean.com.au
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Generally the shorter end is 30 days, with most falling on 42-45 day settlements. It’s not that uncommon for some purchases to be upwards of 90 days in the owner occupier market especially.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
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