mov­ing home

The Advertiser - Real Estate - - Open House -

SO you have signed a con­tract and have started think­ing about mov­ing into your new home, but what needs to be done be­fore set­tle­ment?

First, you should en­sure that you are cov­ered in case any­thing hap­pens to your new prop­erty. Most con­tracts will spec­ify that the buyer is re­spon­si­ble for the prop­erty within this time, so or­gan­ise build­ing in­surance cover.

Once the cool­ing-off pe­riod has ex­pired, you will need to pay the de­posit for the prop­erty to the agent’s trust ac­count.

You should also con­tact your bank or fi­nan­cial in­sti­tu­tion to ar­range for all other fi­nance de­tailed in the con­tract.

You are ad­vised to ob­tain a con­veyancer at this time to com­plete all your le­gal pa­per­work for trans­act­ing the prop­erty. Give your real es­tate agent the de­tails of your con­veyancer and no­tify your con­veyancer when you have met the con­di­tions of the con­tract.

Sev­eral things should hap­pen in the week lead­ing up to set­tle- ment. You will re­ceive a set­tle­ment state­ment from your con­veyancer de­tail­ing the pur­chase price, de­posit paid, rates and tax ad­just­ments. By the last work­ing day be­fore set­tle­ment, en­sure the amount de­tailed on your set­tle­ment state­ment is paid so that set­tle­ment is not de­layed.

Also ar­range for gas, elec­tric­ity, tele­phone and other util­i­ties to be ac­ti­vated for your new prop­erty. You can request fi­nal read­ings for the premises you are va­cat­ing while or­gan­is­ing this. By the time all the nitty-gritty stuff is over, you should be packed and ready to move in. Your agent will con­tact you once set­tle­ment has been fi­nalised to give you the keys to your new home.

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