The Settlement Process in 7 Easy Steps
Deciding to build a new house can be one of the biggest and most exciting achievements in your life, but the experience can also be incredibly confusing. Often people want to educate themselves before making any big decisions, and Simply Settlements want their clients to be equipped with the knowledge they need to feel comfortable and confident. Take a look at the settlement process in 7 easy steps with Simply Settlements.
1. Initial Contract
Once we receive a Contract of Sale nominating us as the agent, we will contact the clients to introduce ourselves and provide their conveyancer’s details for any questions.
2. Important Documents
We then send out the initial settlement documents, which are to be signed and returned by the clients.
3. Finance Approval
Once formal approval is received, we will liaise with the lender/broker/Council to ascertain the balance of funds required for settlement. Our clients will then receive their unconditional settlement documents via email. These documents will then need to be returned via email prior to settlement.
4. Special Conditions
We will ensure that all special conditions noted on the Contract of Sale are followed up and completed in time for settlement.
5. Settlement Statement
We liaise with the clients and their broker to provide a final statement outlining the settlement figures and any balance of funds payable, approximately one week before settlement.
6. Settlement Booked
Once settlement has been booked and confirmed, we will contact all relevant participants (other settlement agent, lender, mortgage broker, builder and real estate agents).
7. Settlement Complete
We call the clients to congratulate them and confirm settlement has been completed. The building company, mortgage broker and real estate agent are also informed via email. The stamped Contract of Sale and Title Search, confirming the clients as registered proprietors, are then priority posted to them for safekeeping.
As part of BGC Housing Group, Simply Settlements works closely with many of WA’s leading home builders, as well as The Loan Company. This helps to remove stress around extensions to finance or settlement, document preparation and/or financial enquiries and resolutions.
For more advice visit simply.net.au
