Settlement Timeline

I decided to post this, both for my own memories and for general amusement.

30th November 2009 - Statement of Compliance has been given to Land Titles Office. Solicitor says settlement is expected in week beginning 14th December.

15th December 2009 - Metricon's conveyancers say plan of subdivision has been registered, and request settlement no later than 29th December, for which they will give us a $3000 discount. Solicitor requests exact settlement amount required from ANZ. Settlement booked with vendor for Wednesday 23rd December at 11 am. Booking with Perpetual LMS (acting for ANZ bank) not made as they are not returning calls!

21st December 2009 (Monday) - Amount required for settlement is finalized, and I transfer the money via internet banking. Everyone is ready now except Perpetual LMS.

22nd December 2009 (Tuesday) - We receive a copy of a strongly worded fax from our solicitor to Perpetual LMS, saying we will be asking for $3000 plus costs if they don't turn up tomorrow. Apparently they still have not confirmed that they will attend settlement.

23rd December 2009 (Wednesday) 9 am - Perpetual LMS says that ANZ has "not completed the verification process" to allow them to settle. Our mortgage agent chases it up and finds that there has indeed been a mixup at ANZ and Perpetual have not received some necessary instructions from ANZ. ANZ is going to fix things, encouraged no doubt by the possibility of $3000 plus costs if they don't.

1 pm - Settlement is scheduled for 3 pm

4:30 pm - Settlement completed at 4 pm! Everyone goes home and gets ready for Christmas.

5th January 2010 - Metricon CSC requests confirmation that settlement has occurred. I email solicitor asking if we should have gotten a letter confirming settlement.

13th January 2010 - Our solicitor comes back from holiday, and points out that it was Metricon's conveyancers who handled the transaction, and asks why they are asking us for confirmation of a transaction they handled. I pass this on to Metricon

22nd January 2010 - Looks like things will be moving slowly.. It's 1 month since settlement and Metricon has only today confirmed that settlement is completed. I am busy now training our new Metricon CSC (this one handles construction, the old one was pre-construction) to confirm receipt of emails, as we had problems with them going missing in the past.