A. On settlement, the title to the property and discharges of all mortgages are handed to the solicitors for the purchaser, in exchange for the payment of the purchase price. At this time the property ceases to be yours.
B. Keys are normally required to be handed over on settlement through the land agent or through your solicitor, although occasionally the parties make some private arrangement. You should not allow the purchaser into possession until settlement has actually taken place as you could be severely disadvantaged if for any reason some unexpected difficulty arises, causing settlement to be postponed or even avoided, or if damage occurs on the property.
C. Unless the agreement provides otherwise, the purchaser is entitled to vacant possession of the house on the settlement date. If for any reason you are not in a position to move out by the settlement date, you should make some mutually satisfactory arrangement with the purchaser. If you do not, you may have to pay interest or rental to the purchaser (the former calculated at the default rate shown on the contract on the whole of the purchase price, less any deposit paid or due, and the latter being a fair rental for the property form the possession date in the contract until possession is actually given). In addition, you may be liable to the purchaser in damages (including the purchaser's costs of temporary accommodation). 作者: sammy1112 时间: 2015-10-14 15:25:37
• Settlement should occur before 4.00 pm on the Settlement date
• There are penalties if the purchaser is late with settlement (clauses 3.11 & 3.12)
• If you, as the vendor, cannot give possession on the Settlement date there are penalties then imposed on you, as the vendor (clause 3.13) 作者: 萨米 时间: 2015-10-14 15:26:54