How Conveyancing Works
This simple table explains the steps for conveyancing and how it works.
|Receipt of Contract|
- We obtain Title Search and a Registered Plan Search
- We contact the seller’s solicitor and notify them that we are acting for you
- Take out building and public liability insurance to product your property
- Before the due date, you execute any building, pest or other inspections that you included in the contract and notify us of the results
- Arrange unconditional finance prior to due date and notify us of:
– who is financing
– which branch
– contact details
– tell us if you are refinancing another property
– loan details and your contribution
- If inspections were favourable, we notify the seller’s solicitor that the conditions were met
- Notify agent that the contract has gone unconditional
- If all the conditions have been met, the contract goes unconditional
- You liase with financier to ensure that the mortgage documents are signed by you and delivered back to them as soon as possible.
- We obtain and check the rest of the searches required
- If your financier requires additional searches, we notify you of the cost and then obtain the searches for them
- Work with financier toward correct provision of funds for settlement to occur
- Prepare settlement figures with relevant parties
- If are going to be living in the home or unit….ensure that you signed and have witnessed Form 2.1 (Stamp Duty) Declaration) for the Office of State Revenue ASAP)
- Arrange settlement time and location with your financier and seller’s solicitor
- Advise financier of cheque details for settlement
- Receive correspondence from us and if required, complete and sign Information Statement and Form 2.1 (Stamp Duty Declaration) and return it to us immediately
- Work with your financier to ensure they are ready for settlement ,have no outstanding issues and documents correctly signed and received by them
- Forward balance of settlement monies to be paid to seller, stamp duty and fees by way of bank cheques as directed by us.
- Advise you of the cheque details required at settlement
- If required, you arrange bank cheques for settlement, stamp duty and our fees and get them to us
- Generate stamp transfer document
- Attend settlement on your behalf
- Send letters to confirming settlement to agents and relevant parties
- Remit stamp duty to Office of State Revenue
- For cash purchases, lodge Transfer at Dept of Natural Resources
- Notify you in writing with details of settlement figures and tax invoice for our account
- Receive letter and tax invoice for our work
- Enjoy your new home!
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