Did you know your demands for longer or shorter settlement dates have been noted as the biggest source of stress among some conveyancers?
The Australian Institute of Conveyancers recently surveyed members in NSW to discover the major issues being faced by them.
A report in The Adviser found that 63 per cent of our NSW counterparts said varying settlement from the standard 42 days was giving them grief.
Here in South Australia, settlement periods tend to fall between four and six weeks but even that is changing.

Have I mentioned the importance of settlement?

If you have read any previous articles on the Eckermann Steinert Conveyancers website, you will have seen how much I stress the importance of respecting the settlement process.
So much hangs in the balance and so many third party elements can go wrong, that I cringe when I here of people entrusting their conveyancing to a part time business or a bargain basement enterprise.
Risking a few days in a hotel or without electricity due to a botched conveyancing transaction doesn’t sound like the end of the world, until you experience it and all the ramifications through work disruptions, payment interruptions, etc.
If there were a few rules of thumb around the setting of settlement dates, I would suggest the following:

  1. Be sensible in your negotiations with the Agent and other party, allowing a reasonable time for all parties to be organised
  2. If you will be moving at settlement, make sure the timing works for your work, for schooling and study, and with a little ‘wriggle room’ built in to account for delays, mishaps, etc.
  3. Include your conveyancer in your thinking and planning as early as possible

So, rest assured, the team at Eckermann Steinert Conveyancers will not be overwhelmed by flexible approaches to settlement dates unlike some of our NSW counterparts because we have the benefit in being part of a larger team!
But remember, if you are seeking a shorter settlement period, the other party and their conveyancer will need to be as nimble and reliable as you expect us to be.
So getting your gameplan set early will be the best way to ‘settle’ your nerves during this time of change.