What happens Pre and Post-Settlement as a Conveyancing client?

Congratulations! Your offer has been accepted, and the journey to owning your new property is officially underway. 

At Skilled Conveyancing, we understand this process can seem like a complex mystery but it doesn’t have to be. 

We believe in transparent communication every step of the way.

Here’s a clear breakdown of what you can expect as our client before, during, and after settlement.

Pre-Settlement: The Strategic Foundation

This is where the crucial groundwork is laid for a smooth transaction. Once you’ve provided us with the signed Contract of Sale, our team springs into action on your behalf.

• Thorough Document Review: We conduct a meticulous examination of the Vendor’s Statement (Section 32) and the contract, identifying any title restrictions, zoning issues, or unusual clauses that need addressing.

• Liaising with Your Lender: We work directly with your Lender or mortgage broker to receive and review your loan documents, ensuring everything is in order for settlement.

• Arranging Property Searches: We order all necessary certificates and searches from local councils and water authorities to verify the information provided by the vendor.

• Calculating Adjustments: We precisely calculate the adjustment of rates and taxes, so you only pay for what you owe from the settlement date.

• Final Checks: We prepare the Settlement Statement for your review, confirming the exact financial figures.
  • You’ll also conduct a final inspection of the property to ensure it’s in the similar condition as when you signed the Contract.

Throughout this phase, we keep you informed and answer any questions you have. Our goal is to ensure you feel confident and prepared.

Settlement Day: The Final Exchange

Settlement day is the culmination of all our pre-work. This is when legal ownership is officially transferred from the vendor to you.

• The Process: Settlement is typically an electronic process conducted via PEXA, the online settlement platform.
  • Your lender, the vendor’s representative, and Skilled Conveyancing all work together in a secure digital workspace to exchange documents and funds.

• Our Role: We act as your Legal representative, ensuring your Lender transfers the loan funds and you transfer any remaining balance.
  • Simultaneously, we receive the Title and transfer documents from the vendor’s side.

• What You Do: Interestingly, your role on the day is to relax! There is no physical meeting for you to attend.
  • We handle everything on your behalf. 
  • You’re simply waiting for our call confirming that settlement is complete.

• The Outcome: Once all funds have been transferred and documents are signed, the property is legally yours.
  • We will notify you and your real estate agent immediately.

Post-Settlement: Tying Up the Loose Ends

Our service doesn’t end the moment settlement is final. We take care of the essential administrative tasks that follow.

• Confirming Title Transfer: We ensure the transfer of land is registered with the Land Titles Office, officially putting your name on the title.

• Managing Stamp Duty: We lodge your stamp duty paperwork on your behalf (if applicable).

• Providing Your Final Package: You will receive a comprehensive settlement pack containing all your important documents, including the final settlement letter, Statement of Adjustment, and any other relevant paperwork for your records.

• Informing Authorities: We notify the local council, water authority and Owners Corporation (if applicable) of the change of ownership on your behalf.

• ATO/Accountant information: We will provide you with the invoices required by the ATO and your accountant PROACTIVELY, so you can send it on and do not have to chase us for it in 6-18mths time.

Skilled Conveyancing will guide you from the initial excitement of a signed contract right through to the moment you receive the keys and beyond. 

We manage the difficulties so you can focus on the excitement of your new beginnings ahead.

Ready for a seamless conveyancing experience? 

Contact Skilled Conveyancing on 03 9729 3512 or email us to let us expertly guide you through your property journey.