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Purchaser’s Conveyancing Checklist

Purchaser’s Conveyancing Checklist
  • Conveyancing
  • Aylward Game Solicitors
  • No Comments
  • September 29, 2014

Purchaser’s Conveyancing Checklist

1. Contract of sale

Your solicitor should: order a title search and registered plan search, notify the seller’s solicitor they are acting, and prepare transfer documents for the seller to sign.

You should: take out building and public liability insurance, organise building and pest inspections and send them to your solicitor, organise unconditional finance and inform your solicitor of who, where and contact details, and inform your solicitor of the details of the loan and your contribution.

2. Going unconditional

You should: Provide instructions to your solicitor to (where applicable) seek an extension to conditions yet to be fulfilled and notify the agent of any changes. Provide instructions to your solicitor to satisfy all contract conditions prior to expiry of their due date. Sign mortgage documents and deliver them back to your financier.

After these conditions are met the contract is unconditional.

3. Prior to settlement

Your solicitor should: prepare settlement figures and provide a settlement statement to you; book settlement with your financier (if applicable) and the seller’s solicitor; advise the financier of the cheques they will require at settlement.

You should: Ensure that if any funds from settlement are not coming from your financier, that you provide your solicitor with clear funds for the balance of settlement monies, including transfer duty, so that your solicitor can arrange the required cheques to be available at settlement. Complete your pre-settlement inspection to ensure the property has been left in good condition.

4. Post settlement

Your solicitor should: stamp and lodge the transfer documents, notify the rating authorities of your purchase and send you a final letter with the settlement figures and your tax invoice.

You should: enjoy your new home or investment property!

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