If you exchange with a cooling off period
CONDITIONAL
– Day 1
Agent exchanges the contract on a cooling off period (usually 5 business days).
– Day 2-5
The purchaser’s representative usually requests small amendments to the contract, which will be discussed with you.
The purchaser will normally at this time arrange for pest, building and strata reports (as required) and loan approval (including valuation).
– Day 5
The deposit is required to be paid to the agent prior to 5.00pm and the contract becomes unconditionally exchanged.
If you exchange without a cooling off period
UNCONDITIONAL
– Day 1
The agent issues a sales advice to our office, and we forward a contract to the purchaser’s representative, and to you for signing.
– Day 2 onwards
The purchasers representative usually requests small amendments to the contract, which will be discussed with you.
The purchaser will normally at this time arrange for pest, building and strata reports (as required) and loan approval (including valuation).
Contracts are exchanged.
Mid Transaction
We advise your discharging mortgagee (if applicable) of the sale of the property, and the proposed completion date. Requisitions on Title are received from the purchaser’s representative. Replies are drafted and a copy forwarded to you for approval. The transfer document is received from the purchaser’s representative. We ask that you attend our office to sign the transfer.
Pre Settlement
A settlement date and time is arranged with your discharging mortgagee (if any) and the purchaser’s representative. We will obtain your confirmation of the pay-out figure that the bank provides to us, and confirm all settlement amounts and adjustments (ie, rates, our account and the agents commission).
Day of Settlement
You do not need to be present on the day of settlement. You will need to have fully vacated your property at the time settlement is due to occur (normally between 11.00am and 3.30pm Monday to Friday). You must ensure that the agent has all the keys to the property, so they can be handed to the purchaser once the matter has settled. We will telephone or SMS you to confirm settlement has taken place.
The balance of the funds due to you will either be banked (if you instruct us to do so) or will be available for collection at our office the next business day after settlement. You should ensure that you bring your photographic identification with you when collecting any cheques. You will also need written authority from any other owner(s), if only one of you is collecting the cheque and the property is in more than one name.
Following Settlement
We will forward to you a post settlement letter, confirming the full break-down of all the settlement adjustments, amounts paid to all authorities, and our account.
