PRIOR TO SETTLEMENT

STEP 1 We can review your contract before signing should you be selling privately. Or alternatively we can complete the Contract for you at no extra cost.

STEP 2 You advise your Real Estate Agent of your choice of Settlement Agent – “SETTLEMENT GROUP PTY LTD Pty Ltd”

 

ON RECEIPT OF CONTRACT

STEP 1 We advise Buyers agent that we are acting on your behalf at settlement

STEP 2 We search the title and check on any encumbrances i.e. mortgages etc.

STEP 3 We will then send to you Introductory letter and Authority to Act.

STEP 4 We follow up and check on the Buyer’s finance approval

ONCE FINANCE APPROVED

STEP 1 We instruct Bank to prepare the “Discharge of Mortgage” (if applicable) Obtain payout figures and arrange for any other encumbrance to be removed.

STEP 2 You contact your bank and sign “Discharge Authority” OR You forward Original Certificate of Title to SETTLEMENT GROUP PTY LTD by Registered Mail (if no mortgage)

STEP 3 You arrange for satisfaction of any conditions on the contract, which you are responsible for ie. Repairs, painting etc.

STEP 4 We prepare an interim settlement statement and forward to you and your bank.

STEP 5 You sign & return Transfer of Land when forwarded to you & provide us with details of where you want any surplus funds to go i.e. deposited into bank or Bank Cheque posted to you.

STEP 6 You ensure that everything in the house is in good working order for the buyer’s pre settlement inspection.

ONE WEEK BEFORE SETTLEMENT

STEP 1 You double check the settlement date with us then arrange a removalist. (If you live in the property it must be vacated by noon the day after settlement, if the property is vacant or tenanted the buyers are entitled to possession as soon as the settlement takes place.)

STEP 2 You request disconnection of power, gas and telephone services.

STEP 3 We liaise with your Broker or Bank to make sure they are ready for settlement

STEP 4 We adjust council rates, water rates and land taxes

STEP 5 We prepare a final settlement statement that details monies due to you and any disbursements made to the relevant authorities and fax a copy to your bank

STEP 6 We book settlement with the Buyer’s agent and your Bank and advise you of time and date of settlement.

SETTLEMENT

STEP 1 We attend settlement on your behalf, paying out mortgage (if applicable) and distribute surplus funds in accordance with your instructions. Cheques will take 3 – 5 days to clear.

STEP 2 We notify you as soon as the settlement has taken place. Congratulations!

STEP 3 We notify the Real Estate Agent that settlement has taken place and to hand over keys to new owner.

AFTER SETTLEMENT

STEP 1 We prepare and send any final correspondence.

STEP 2 You advise others of your change of address & recommend “SETTLEMENT GROUP PTY LTD” to your family & friends.

STEP 3 We conduct a final search 3-5 weeks after settlement to ensure property has correctly transferred out of your name.

Thank you for your business and we look forward to being of assistance to you again in the future.