What happens if I am not ready to settle on my contractual settlement date?

We note that you may be contractually obliged to complete settlement on the date set out in your Contract of Sale.

Pursuant to the Joint Form of Conditions for the Sale of Land 2022 that govern the sale of property in Western Australia, if you are not able to complete settlement within three business days from your contractual settlement date, the vendor may be in a position to charge you penalty interest.

It is important that your settlement agent and bank ensure that you are ready to settle on your contractual settlement date.