Kym Goodenough Real Estate

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How do you prepare for settlement?

Posted on 25 June, 2015 at 20:30

According to Richmond, the hardest part of settlement day for her clients is packing up and cleaning the home and disconnecting and connecting the utilities. “We take care of the paperwork so they can get on with the cleaning.”

 

“Probably two weeks out from settlement we’re trying to finalise our figures in relation to council and water rates.

 

“We write to the council and water authorities advising them of a change of ownership, but they will have to ring up and get their gas and power connected,” Richmond says.

 

You’ll also have the opportunity to do one final inspection of the property before settlement day. If you can’t do it yourself, or don’t feel confident that you’ll know what to look for, you can hire a professional to conduct the inspection for you. The point of the final inspection is to ensure the house is in the same condition as it was when sold.

You don’t actually need to be present on settlement day if you don’t want to as your representatives can take care of all documentation and financials. However, you will be needed to oversee the removals process.

 

“We let clients know 7-14 days beforehand when the settlement times are scheduled so their can organise their moving company,” Richmond says.

 

“I let our removalists know that they’d have a couple of hours rest in between loading our truck from our old place, and delivering it to our new place (pending settlement),” Hodges says. “They were fine with that and had done it before.”

 

Hodges says her best preparation was making sure her conveyancer and mortgage broker had absolutely everything they needed.

 

“You really need to do everything they say, and give them everything they need. Then it’s out of your control.”

 

Hodges was notified no more than ten minutes after both scheduled appointments and told everything had gone through.

 

“What a relief. The best bit was being told, ‘congratulations – go and get your keys!’”


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