|Posted on 26 June, 2015 at 22:40|
Richmond says hiccups rarely occur but when they do it is usually be resolved on the same day.
“There have been instances of clerks turning up at settlement missing a document. If those things happen everyone scrambles together to try and solve the problem as soon as possible.
“Sometimes settlement is pushed back to allow the offending parties to rectify the problem. We always work to settle it on the same day that it has been scheduled because we know that most of the time people need to move into the property.”
After settlement your lender will draw down your loan – debiting the amount they’ve paid at settlement from your loan account.
Richmond says she sends a final reporting letter to her clients after settlement, informing them that settlement was completed and the money was received on their behalf. “We will also write to the authorities advising them of the change in ownership. Where there is a bank involved, the bank will report a breakdown of the loan distributions.
“There’s not much to do for them except enjoy the home.”
Hodges says aside from a couple of minor things like nominating a bank account for the sale proceeds, there was nothing left to do except celebrate.
“Once you’ve got the keys, you’re in, can unpack and enjoy your new home.”