Information for Sellers
Residential Settlements understand that the process of selling your property and dealing with the paperwork for settlements can sometimes be daunting.
Here are some steps that you will need to follow that will help smooth your settlement process.
Offer and Acceptance agreed upon.
Your real estate agent will send details and advise Residential Settlements to start the settlement process.
You will receive your Offer and Acceptance from your real estate agents sales office.
You will receive an introductory letter and authority to act from Residential Settlements. Please sign and return as soon as possible.
Your settlement agent will personally call and discuss all details of this transaction.
Ensure that any conditions on the Offer and Acceptance required to be fulfilled by the seller are undertaken by the required date, this is <strong>extremely important</strong>.
If you have a mortgage on your property please contact your Bank as soon as possible to sign a Discharge of Mortgage form.
You will receive an Initial statement showing funds held for the estimated rates , which will be adjusted prior to settlement.
A disbursement authority will be enclosed for the surplus funds after your mortgage has been paid out and all costs taken into consideration including rates, commissions, fees etc
Your settlement agent will liaise with your Bank to discharge the mortgage.
A settlement inspection may be undertaken by the buyer. Ensure that all items in the home are in good working order as per your contract.
You should notify Telstra, Australia Post, Western Power, Atlanta Gas and other service companies of your new address.
You will receive a Final Settlement statement prepared detailing monies due to you with all disbursements made to be relevant authorities.
As settlement is imminent, ensure (as you would expect in your new home) that property is clean and all rubbish is removed.
Settlement takes place and Residential Settlements repays the mortgage and deposits the balance of funds by bank cheque in your nominated bank account the same day. Bank cheque may take 3-5 days to clear, under your banks’ conditions.
Congratulations – we hope you will use Residential Settlements for the purchase of your next home.
You will be notified immediately when settlement occurs and we will inform your Real Estate salesperson.