BUYING PROCESS
Whether you are buying your first home, or your tenth investment property, the process can still be daunting. Property Conveyancing Group will assist you throughout each stage of your purchase to ensure a smooth settlement.
Pre Purchase
Property Conveyancing Group offers a complimentary review of Contracts for properties that you’re interested in so that you can feel confident in making an offer or attending an Auction.
We ensure that you are aware of the terms of the Contract and can also provide you with conditions to be added to ensure your interests are represented.
Once Contracts have been signed
Once your offer has been accepted, we will receive a copy of the Contract from the Real Estate Agent and will prepare your legal documents and will send these to you together with detailed information in regard to your settlement. During this time, we will also be in contact with your Banker or Broker to discuss your finance application, if required. We will continue to work together with your Banker or Broker throughout the settlement period.
Once you have returned the signed documents and completed Verification of Identity, we will complete a Duties Online Form in order to calculate Stamp Duty for your purchase. If you are eligible for any Stamp Duty Concessions or Exemptions, these will be taken into consideration through this form. Often, this is the last legal document you will be required to sign before settlement taking place.
Pre Settlement
Prior to settlement, we will send you a copy of the Statement of Adjustments together with a breakdown of all other fees you are required to pay at settlement. We will also confirm the net amount your Mortgagee is contributing towards your purchase and advise you of the shortfall you will need to have available.
What you need to do before settlement
Most importantly, you should ensure that you sign your Mortgage documents as soon as they are available to you. Some Banks can take up to 10 business days to verify your documents once signed, it is therefore essential to sign these promptly so as to avoid any delays in settlement.
To ensure you have your utilities connected on your settlement date, we recommend you contact these providers at least 3 weeks before your settlement date. We arrange for the water connection to be transferred to your name following settlement. You will not need to arrange for this to be connected.
Within 7 days of settlement, you will also have the opportunity to complete a final inspection of the property.
By 5pm the business day prior to settlement, you should also have all funds you are contributing to settlement in your nominated bank account. In most instances, your Mortgagee will debit your contribution directly from your account on the day of settlement.
Settlement Day
You will be able to collect keys to your new property as soon as settlement has taken place. This is usually within half an hour of your allocated settlement time.
Everyone's property journey is a personal and individual one and therefore, so are the answers to your questions.
If you have a question that hasn't been answered above or, would like an answer personalised to you, contact us for an obligation free chat!