05-12-2018 02:17 PM - edited 05-12-2018 02:19 PM
Anyone got any ideas? We have a settlement due at 2:00pm today. We are acting for the purchaser and Dentons act for the incoming mortgagee, ING.
Dentons' telephoned our office, this morning around 9.30am and advised that they need financial statement signed off by 11.00am or else they would not be able to settle at 2:00pm ...exactly why? We are talking electronic settlement, not a paper settlement requiring bank cheques! The vendor is involved in a linked settlement.
We signed off and enter "Total funds required to settle" at around 10.20am. The discharging mortgagee entered the pay-out figure about 30 mins prior to settlement and the vendor's solicitors were them able to enter funds for vendors.
We have sent a "conversation" to Dentons thru PEXA, we have emailed them thru Outlook and called...their office message "The party you are trying to reach is not accepting calls at this time"...WHAT??? Do they not live in the real world of e-conveyancing. Please tell us how this is at all acceptable???
Settlement just rolled over because we did not balance...client's equity needs to be reduced by Dentons'.
We are frustrated, annoyed and angry...this should not have happen and there is NO excuse.
on 05-12-2018 02:51 PM
I'm following this up with our support team now - am I right in saying the workspace rolled over 30 minutes and has now settled?