NSW - Settlement Statement - Sale

Getting the most out of automated documents

Settlement Statement - Sale - NSW

Where it is

State: NSW

Path: Conveyancing/Sale/Settlement

What it looks like

 

 

Where the data comes from

Calculation: Purchaser's surname(s) obtained from Purchaser contact card(s) and Vendor's surname(s) obtained from Vendor contact card(s)

Property Details: Property Address

Settlement Financials: Adjustment Date

Calculation: Matter Info: Person Responsible initials:Person Assisting initials:Matter number

Settlement Financials: Amount Due on Settlement, made up of the Purchase Price less Deposit plus or minus adjustments

Settlement Financials: Payments Tab: Payment Direction list

Settlement Financials: Payments Tab: Total payments to be drawn

Conveyancing Details: Deposit Holder is selected as Vendor's Agent and there has been no amount released

Conveyancing Details:  Deposit Paid amount

Agent Details: Total

Calculation: Deposit Paid amount less Agent Details: Total

Conveyancing Details: Deposit Holder is selected as Vendor's Agent and there has been funds released

Conveyancing Details:  Deposit Paid amount

Conveyancing Details: Released Amount (available upon ticking the Released checkbox)
Calculation: Deposit Paid less Released Amount (see Handy Hints for further details)
Calculation: Deposit Paid less Released Amount less Agent's Details: Total 
(see Handy Hints for further details)
Conveyancing Details: Deposit Holder is selected as Vendor's Representative OR Purchaser's Representative
Conveyancing Details:  Deposit Paid amount
Conveyancing Details: Released Amount (available upon ticking the Released checkbox)
Calculation: Deposit Paid less Released Amount (see Handy Hints for further details)

Handy Hints

When the Deposit Holder is selected as Vendor's Agent and their fees are greater than the balance of the Deposit Paid (less any Released Amount if applicable), the Agent will retain the whole balance and a payment will automatically populate into settlement financials for the balance owing to the Agent.

If the Agent's Commission and fees are less than the balance of the Deposit Paid (less any Released Amount), the Agent will retain their entire commission and the balance at 16 will show the funds to be returned to the Vendor

If the Vendor's Representative or Purchaser's Representative are selected as the Deposit Holder then the Agent's Commission and Fees will automatically be drawn as a payment in Settlement Financials for the whole amount payable to the Agent. 

 

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