Property Buyers Checklist

  • The Offer and Acceptance agreed upon. Your Real Estate Agent’s sales office will send details and advise Residential Settlements to start the settlement process.
  • You will receive by post a copy of the Offer and Acceptance from Real Estate Agent’s sales office.
  • You will receive an introductory letter and authority to act from Residential Settlements. Please sign and return as soon as possible.
  • Make sure your deposit is paid on time to the nominated agent’s office
  • Should finance be required you must provide a copy of the Offer and Acceptance to your Broker or Bank so approval can be arranged.
  • When Finance is approved please arrange for your financial institution to send a copy of the approval letter to your Real Estate agents sales office by the date required.
  • Contact your Bank to sign mortgage documents if required.
  • Your Settlement agent will personally call and discuss all details of this transaction.
  • Ensure other conditions i.e. Building inspections or termite reports are conducted on time.
  • An interim Settlement Statement will be sent to you and your bank detailing the amount of funds required by your prior to settlement i.e. Stamp Duty, settlement fees.
  • Stamp Duty must be paid to the Office of State Revenue prior to settlement or within 3 months of the contract date.
  • You will need to arrange a Certificate of Insurance of the property for the Bank.
  • Final settlement statement is prepared detailing all monies required and disbursements to be made to the relevant authorities.
  • A pre-settlement inspection can be arranged with your Real Estate Agent’s salesperson prior to settlement (optional)
  • You will be notified immediately when settlement occurs. Congratulations – enjoy your new home.
  • The title deeds will be sent to you by registered mail – or if mortgaged, a copy identifying you as the owner will be forwarded to you by post. In both circumstances this will take approx 1 – 2 weeks.