NSW - Settlement Adjustment Sheet - Purchase/Sale

Location of Precedent

State: NSW

Path:  Conveyancing/Purchase/Pre Settlement and Conveyancing/Sale/Settlement

What it looks like

image(581).png

Where the data comes from

  1. Calculation: Purchaser's surname(s) obtained from Purchaser contact card(s) and Vendor's surname(s) obtained from Vendor contact card(s)
  2. Property Details: Property Address
  3. Conveyancing Details: Settlement Date
  4. Settlement Financials: Adjustment Date automatically populates from Conveyancing Details: Settlement Date but can be manually overwritten
  5. Conveyancing Details: Purchase Price
  6. Conveyancing Details: Paid Deposit Amount
  7. Calculation: Purchase Price less Paid Deposit Amount
  8. Settlement Financials: All Adjustment Items
  9. Calculation: Total of all Purchaser Adjustments in Settlement Financials plus Balance (7)
  10. Calculation: Total of all Vendor Adjustments in Settlement Financials
  11. Calculation: Total of (9) minus (10)
  12. Settlement Financials: Payments: Payment Direction, all Vendor selected payments. To remove payments, they must be removed in Settlement Financials. Note that any greyed out payments need to be updated on the Adjustment Item.
  13. Calculation: Settlement Financials: Vendor Payments Total Amount

Handy Hints

  • To remove an item from Settlement Financials hover over the entry with your mouse and click the Delete button
  • To remove payments, they must be removed in Settlement Financials on the Payments Tab. Note that any greyed out payments need to be updated on the Adjustment Item where they were created. To removed a greyed out payment, change the payment amount to 0 on the Adjustment.
  • If the deposit does not display, ensure it has been selected as paid in Conveyancing Details
  • If GST applies to the purchase price select the GST Type in Conveyancing Details and complete the GST Amount 
  • If GST applies to adjustments, check Plus GST on each adjustment in Settlement Financials
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