What is a “Settlement”?
The Settlement is the final stage of the sale or purchase of a property. It involves the transfer of the legal title from the Vendor (The Seller) to the Purchaser (The Buyer). All monies and outstanding matters relating to the property are finalised.
What are the things that I have to remember when buying/selling a Property?
- Speak to your bank or mortgage broker and arrange pre-approval
- Meet with a real estate agent and view various properties
- When you have found a property that meets your requirements, have a copy of the contract sent to CBC Conveyancing for review
- Arrange building and pest inspections (and strata if needed)
- Advise your lender/broker that you have found a property you wish to buy and provide them with the details
- Review results of the inspections
- Pursue your chosen lender/broker for formal loan approval
- Provide CBC Conveyancing or agent with cheque for deposit
- Instruct CBC Conveyancing to proceed to exchange
- Book a removalist
- Notify relevant parties of your change of address – RTA, insurance, medical fund, electoral roll, banks etc.
- Arrange post office to redirect mail
- Arrange change of power, gas and phone connections etc.
- Pay stamp duty or complete exemption forms as provided by CBC Conveyancing
- Conduct final inspection and
- Collect the keys from the property agent and enjoy your new home!