Offer and Acceptance
We will contact the real estate agent for the original Offer and Acceptance contract once we have received notification from yourself that we will be acting on your behalf. Should it be a private dealing you will need to provide us with the Offer & Acceptance Contract. Once received, we will check the details (ie Land description) are correct before inputting into our system.
As there are documents during the Settlement process that must contain original signatures, it is really important that you advise this office if you are going away or change your contact details during the Settlement process.
Ensure that you pay your deposit by the due date on the Offer and Acceptance contract.
Within two to three weeks of receiving your offer and acceptance contract, we will start to prepare and distribute your documentation. This will include an Appointment to Act and initial Settlement Statement which will show amounts payable by you in respect of stamp duty, settlement fees and other disbursements.
Special Conditions on the Contract (Termite Reports, Building Reports etc.)
Please note it is your responsibility to arrange the items required for the satisfaction of special conditions on the Contract and ensure they are undertaken within the time frames stipulated in the contract (ie contacting a pest control company for the Termite Inspection). Should you not arrange these within the time frames your rights under the condition may be compromised. Should you have queries about the results of any reports or conditions you may contact this office to discuss and we may advise you if it is prudent to seek legal advice.
If you require finance to complete the purchase ensure that you take immediate steps to obtain the loan. Once you have finance approval you will need to advise us of this and provide a copy of your finance approval letter to us and your real estate agent. Remember that you will still need to sign mortgage documents after your loan has been approved.
Transfer of Land
We will send a "Transfer of Land" document to you along with the balance of your settlement documentation after you have received finance approval. In some instances we may arrange for you to sign the Transfer of Land document with your initial settlement documentation. The Transfer of Land document must be original signatures and witnessed by an individual who is an Australian Citizen over the age of 18 and is not a party to the contract. It is important to complete this document and return it as soon as possible as it has to be forwarded on to the seller for them to also sign.
We suggest that you organise your final inspection with the real estate agent approximately a week before your expected settlement date. This inspection allows you to determine that the house and its amenities are in the same condition as it was when you made the offer to purchase. Please ensure that all special conditions to the contract have been fulfilled. Should you find any issues with the property is important that you immediately notify the real estate agent and us in order for the seller to rectify these prior to settlement.
On settlement day we meet with banks and any other parties or representatives involved to exchange monies and lodge all necessary documentation with the appropriate departments. Once settlement has been effected we will notify yourself as well as the real estate agent.
Once we have notified you that settlement has gone through you can contact the real estate agent to arrange the collection of the keys for the property. If the property is the sellers place of residence they are entitled to occupy the property until 12.00 noon on the day following settlement.