Once you have an UNCONDITIONAL CONTRACT, the process is one of handling the actual SETTLEMENT of the Purchase. As such, our team provides the following services to you:
- Providing notices of sale to the Vendor’s solicitor so that the local council’s records are kept up-to-date when you are the new owner. To assist us with this you will need to notify us as to what the exact entity purchasing will be, but hopefully you will have done this as part of the initial PRE-CONTRACT stage.
- Preparing the necessary documents required by the bank to enable the loan for settlement. Once the loan documents have been received by us from the bank and any additional documents required have been prepared in our office, we will need to meet with you to sign these up.
- Liaising with the bank to organise draw down of the loan for settlement date.
- Handling the e-dealing for the title, which is the electronic method titles are now transferred between the Vendor and the Purchaser;
- Providing you with the settlement statement and a Purchase Statement prior to the settlement date and advising you of any balance (if any) required from you for settlement.
- Handling settlement by way of receiving the loan money from the bank and paying this to the Vendor’s solicitors to settle the purchase.
- Providing you with a wrap up letter advising of the change in title and important post-purchase considerations.
You are also entitled to a FINAL INSPECTION of the property before you settle, and this allows you to make sure the property is in the same state of repair as at the date when you signed the SALE AND PURCHASE AGREEMENT and to check that all the chattels listed in the agreement remain on the property.
Once this settlement process has been completed you will be the proud owner of your new home, and hopefully the process will have been as smooth and seamless as possible from the legal perspective.