First of all, we would like to express our sincerest apologies for the failed settlement. This obviously caused inconvenience for you. The successful settlement is important to us and we deeply regret failed settlement like this.
While we always strive to ensure that all of our settlements settle according to schedule, unfortunately, due to the nature of the conveyancing industry, it is possible that settlements may fail from time to time.
We will notify our clients about any failed settlements and will strive to keep them updated via text message or email or phone calls.
We will do our very best to try to settle on the same day if possible. If not possible, we will try our best to settle the very next day that we are able to.
The most common problems of failed settlements are:
- There was a caveat lodged on the day of settlement
- The bank had written a wrong cheque
- The transfer was executed incorrectly
In the unlikely event of a failed settlement, we ask you to:
Stay calm and reframe from calling us as we are frantically trying to resolve your matter. There will be countless of phone calls to the vendor's solicitor or the purchaser's solicitor, the banks and the settlement agent.