CONVEYANCING BASICS – WHAT HAPPENS BEFORE SETTLEMENT?
The time since Contracts were exchanged has quickly passed and you’re now getting ready to settle on the purchase of your home. But what else should you be doing now?
A pre-settlement inspection should be arranged with the real estate agent (or the seller direct, if there is no agent) as close as possible to settlement.
You should check that the property is in the same condition that it was in when Contracts were exchanged, subject to fair wear and tear. If you do notice any changes to the property since exchange, you should contact your solicitor to receive advice on how to proceed. A change may include a missing inclusion, such as a dishwasher or damage to the property, such as a hole in the wall or broken windows. There are options available to you as a purchaser and we can provide you with advice in relation to those options.
You should also check that any rubbish or other furniture has been removed from the property. If you proceed to settlement without having completed a pre-settlement inspection of the property and there is rubbish or furniture remaining, it will most likely be your responsibility to remove it.
In addition to your pre-settlement inspection, we will tell you if you need to provide us with any additional settlement funds or sign any other documents.
To find out more about how we can assist you with your conveyancing, contact the office on 02 6362 5433.
Please note the comments provided are general information only and you should contact us for advice tailored to your personal situation.