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.