Extended Settlements Made Easy

This is a simple extended settlement strategy that is very powerful for the buyer, and a useful negotiation tool for the seller.

When a seller is not in a hurry to sell they may be able to negotiate a better price, if they are flexible on terms, including a delayed settlement.

The buyer’s advantage is that they can have time to save up more money, or potentially add value to the property (eg through renovations, strata titling, finding a tenant, etc). If a purchaser is able to add value to the property (or if it just goes up in price with the market) during the extended settlement, then they may be able to get more finance (even buy the property without spending any money) however, it can be a challenge to get properties valued by a bank at the higher value, especially in the short term (less than 6 months).

A good finance broker is important for these sort of strategies. There are many things to consider, so you must consult your accountant, solicitor etc if you are considering these arrangements.

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