Payment of balance

 

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Payment of balance

This usually takes place between a week and a month after exchanging contracts. It is possible to have a simultaneous exchange and completion if you are in a real hurry to get moving. When you complete the sale, your solicitor forwards the remaining balance of the purchase price to the seller's solicitor. You then have the right to take occupancy of the property and are free to move in.



Payment of balance

Similar Matches

Balance of payments equilibrium

Balance of payments equilibrium

Meaningful only under a pegged exchange rate, this referred to equality of credits and debits in the balance of payments using the traditional definition of the capital account. A surplus or deficit implied changing official reserves, so that something would ultimately have to change.


Payment in kind (PIK) bond

Payment in kind (PIK) bond

A bond that gives the issuer an option (during an initial period) either to make coupon payments in cash or in the form of additional bonds.


Call payment

Call payment

A payment made by investors for new shares. The term would apply to payments made when a company first floats on the stock exchange and also when it has a rights issue. Call payments can be staged. For instance, if you subscribe to an offer on flotation, the terms may require you to pay in two instalments - the first at the time of your subscription and the second six months later. Issuing companies use this as a device to attract shareholders, and it was widely used when the UK government privatised its state-owned industries in the 1980s and 1990s.


Balance of payments

Balance of payments

A statistical compilation formulated by a sovereign nation of all economic transactions between residents of that nation and residents of all other nations during a stipulated period of time, usually a calendar year.


Payment shock

Payment shock

Payment shocks are when the discount period ends and the monthly repayments jump by a large amount to match the Standard Variable Rate. You must be sure that you can budget for this in your monthly expenses.


Further Suggestions

Date of payment
Method of payment
Immediate payment annuity
repayment mortgage
Clearing House Interbank Payments System (CHIPS)
Late payment
Facilitating payment
periodic payment plan
Deferred payment annuity
Receive versus payment
Deficiency Payment
Installment payments
clearing house interbank payment system
Discount payment
FHA prepayment experience
transfer payments
Balloon payment
Payment date
clearing house automated payment system
Repayment period
Prepayment penalty
Mortgage payment protection insurance (MPPI)
Overpayment
Additional principal payment
Single payment bond


 
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