Payment arrangement terms & conditions
These terms & conditions apply to a payment arrangement requested by property owners who are unable to meet the original terms of the agreement.
This Payment Arrangement is not a loan.
Your original Rello Agreement (“Original Agreement”) was provided by Rello Finance Pty Ltd ACN 633 994 859 (“Rello”, we, us) for the purpose of deferring payment of listing and marketing of your Property pursuant to a Listing Agreement with your Listing Agent. Rello advanced monies on Your behalf to your Listing Agent in return for a Share of the Sales Proceeds.
Payment was due at the earlier of date of Settlement, date of Deposit Release, date of the property being Withdrawn from sale or 180 days after activation of your agreement by Rello (the “Buy Back” date).
By submitting this request for a Payment Arrangement:
- You acknowledge your obligation to pay back Rello’s Share of Proceeds advanced on your behalf for the purposes of listing and marketing your Property, as per your Original Agreement.
- You confirm by entering into this Payment Arrangement, you will pay back the Amount Owing which includes Rello’s Share of Proceeds and any default interest and/or costs in securing our interest including a caveat if applicable.
- You agree to pay a monthly Extension Fee of 2.0% of the unpaid Amount Owing until repaid in full.
- You authorise Rello to debit your Nominated Account for all Amounts Owing on each scheduled Due Date.
- You intend and commit to adhere to your proposed Payment Arrangement Schedule.
- You reconfirm you consent to Rello lodging a caveat over the Property to protect Rello’s interest in it under this agreement to secure payment of any money due to Rello.
This Payment Arrangement will come into force when Rello confirms acceptance of your request.
We reserve our right to other means to recover the Amount Owing which may include listing a credit default and or potential legal action.