BUYING GUIDE STEP 10 - FINALISING THE DEAL
Most of what happens now is legal process and requirements of law. Take the time to browse through the legal pages we have provided to get a better understanding of the steps that will now happen.
From the buyer’s side however they must immediately supply necessary documents to their agent or directly to the Conveyancer who will be handling the transaction. Go here to see the documents required from you.
It is also important to immediately ;
- Pay the required deposit to the Conveyancer
- Finalise your bond application – the bond originators who assisted you in pre-qualifying will do this for you
- Set aside the necessary funds to pay the costs of transfer – the sooner the conveyancers have this in their trust account the better.
- Fast track the sale of your home if your offer was subject to it’s sale – remember that you have a certain amount of time to sell, failing which your offer becomes invalid
- Arrange for the full inspection of your new home if required
- Finalise any repairs to your existing home that have to be done
- Begin planning your move – visit the section on Moving to get full guidance and help
- Arrange for another visit to your new home – measure curtain spacing – get quotes on intended alterations etc
CONVEYANCING PROCESS
Once you have paid your deposit, made arrangements for costs and all paperwork is received, the legal eagles will draft all necessary documents and prepare for submission to the deeds office.
You will be called in to sign all of these documents at the lawyer’s offices and this will include all necessary bond registration documents required by the bank
Once you have signed all documents they will submit them and from there on in, it will take around ten days for the property to get registered in your name. Overall, from date of original offer being accepted you are probably looking at a period of thirty days.
In these days of automation and technology, this process happens faster and faster.
To get a step by step guide to this whole process go to the Legal section.
STAY IN TOUCH WITH YOUR AGENT
Your agent’s job is by far not yet over, once you have signed the offer to purchase and they must now begin the monitoring process for you. Make sure they understand that you expect regular report backs as to how far the deal is progressing.
This is where PROPERTY NETWORK agents really show that they are a step above the rest. We do not just step aside now that we have a deal signed but understand that much of the job has only just begun. In fact it is exactly what our Logo means to us. Why not go here to find our more.
They should be in regular contact with the seller or their agent, as well as legal role players and banks and providing you with feedback as to how things are progressing, what the hold ups are and if there is anything required from you.
Especially in the last few days until registration, (which is the date title to the property changes), when you will be planning you final move date, they need to be on top of the situation for you. Very importantly, if registration is anticipated to happen in the middle of a month or at an inconvenient date, make arrangements ahead of time with the seller as to when you will move in if it is not exactly on registration date.
And finally - that call from the attorneys to inform you that the property has registerde in your name and your agent making arrangements to meet you at your new home with your keys!
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