Settlement is scheduled in a few days time. Trying to find out what order the different types of funds are brought to the table.
Amount needed to settle: $1million (after the 10% deposit when contract was signed, inclusive of stamp duty + misc fees)
Home loan from Bank: $600,000
At my bank account which I have signed a shortfall form for the bank to withdraw: $90,000
At solictor's trust account: $750,000
Guessing that the Bank will want me to draw the $600,000 hence they can start charging interest, whilst my solictor will pay the remaining and then refund me the rest? Is this "guestimate" the norm?