Hi, I am just thinking what would happen if we, acting for Purchaser, overestimates the source funds and the incoming mortgagee therefore puts more funds than required at settlement, with purchaser/borrower's authority. Will the settlement go through anyway and where will the excess go? How does that work? The loan and purchaser's equity are both provided by the same incoming mortgagee, bank. and Another question is - I understand the purchaser's caveat will automatically lapse at settlement, which means there is no need to withdraw the caveat before settlement. However, is there any fees involved for the withdrawal? Does the purchaser need to prepare extra money for any PEXA fees and withdrawal fees in relation to such withdrawal? Thanks in advance!
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