Bruceyg The penalty for delaying settlement is calculated as a...

Bruceyg The penalty for delaying settlement is calculated as a percentage of the contract price and charged per day. I cannot remember the percent but years ago I sold a property to an Asian investor who kept stuffing up the paperwork. I gave him 5 days without penalties and then enforced the penalties to hurry him along. Was about $2000 for 20 days on a sale price of $300k but that is a guess.
Could find out from your settlement agent.