Pre-Settlement
Once formal finance approval has been received and the client is progressing towards settlement, the Contracts team coordinates the final requirements to make the process as smooth as possible.
This includes:
● Arranging landlord insurance quotes and assisting with getting the policy in place.
● Coordinating a pre-settlement inspection where required.
● Setting up property management services so the property is ready to be managed following settlement.
● Working with the client and their lawyers to ensure all settlement requirements are completed.
● Following up on required legal forms and documentation.
● Assisting with stamp duty requirements.
● Confirming any shortfall funds required for settlement are transferred to the lawyer’s trust account so they can arrange payment of stamp duty, rates, legal fees and other settlement disbursements.
● Keeping the relevant parties informed and following up on outstanding items to ensure there are no last-minute issues.
The overall purpose of the pre-settlement stage is to make sure everything required for
settlement is completed before settlement day, rather than leaving the client to
coordinate multiple parties themselves.