What now?
We’ve outlined the basic process below to help you understand the next steps:
You’re welcome to call us anytime for clarification or assistance on (03) 9603 0330.
Paperwork
All parties will receive the relevant paperwork for review.
Where applicable, you may have a cooling-off period (three clear business days from the date you sign the contract). During this time, you may be able to end the contract if you change your mind.
Legal Formalities
We will handle the legal formalities of the conveyancing. Any points of law you are unsure about should be directed to our office.
Important Dates
Ensure your deposit is paid by the due date in the contract.
Subject to Loan
Where applicable, a copy of the contract should be provided to your lender or broker. If you don’t have one, call our office for an expert recommendation.
Building & Pest Inspection
If the contract is subject to a building and pest inspection, you will need to arrange this. If it isn’t, you may still wish to organise one during the cooling-off period.
Pre-Settlement Inspection
By law, you are entitled to inspect the property within seven days prior to settlement to ensure it is in the same condition as when purchased, allowing for fair wear and tear.
If the property was vacant, utilities such as electricity may be disconnected, so consider arranging reconnection prior to inspection.
The purpose of this inspection is to confirm that no damage or changes have occurred since your original inspection. It is not the time to bring external parties through (e.g. contractors or agents) or to measure up. Please advise us immediately if you identify any issues.
Settlement
The settlement date may differ from the contract date depending on banks and conveyancers/solicitors involved. Any change must be negotiated and agreed to by all parties.
Keys are not released until settlement is complete. Please allow time for unexpected delays, as this may affect your ability to move in on the scheduled day. Arrange an appointment with your sales agent to collect keys.
While agents make every effort to collect all keys, they cannot account for copies cut or retained by previous owners or tenants. For peace of mind, we recommend arranging a locksmith to change the locks upon moving in.
Insurance
Where a dwelling exists on the property, it is advisable to take out insurance immediately, even though the property remains in the vendor’s name until settlement. This protects against unforeseen circumstances. Please speak with your broker or insurer regarding suitable cover.
Pricing
Confirmation of our estimate is available here: Pricing - Buying