on 13-11-2018 09:47 AM
If settlement does not happen on the scheduled date and time and no new date and time has been created because of the delay on the part of the vendor, what happens to the already verified stamp duty and the documents that have already been prepared in the Workspace?
on 13-11-2018 04:55 PM
The documents remain in the Workspace and the parties can reschedule settlement for a subsequent business day (which might require changes in adjustments and figures, subject to the arrangements between the parties). The documents and settlement statement will need to be prepared and ready for the rescheduled date.
The stamp duty verification service will continue to run between PEXA and EDR NSW to ensure relevant data in both systems is consistent. The due date for payment of duty to OSR would remain as is, per your arrangements with OSR (a movement of the settlement date in PEXA does not extend the due date for payment of stamp duty).
on 14-11-2018 03:30 PM
Thank you, Ames.
The situation is that I needed to remove the settlement date and time because vendor advised that the actual settlement will only happen once the vendor has provided an occupation certificate.
I am unable to remove the settlement date and time unless I remove the Transfer. Once I removed the Transfer, the stamp duty verification was also cancelled as a result of the removal of the Transfer.