Why do I need a Settlement Agent?

A settlement agent takes care of the transferring of ownership of property or real estate from one person to another. This not only applies to those purchasing or selling property, it can also result in a gift or a devise by will. The role of a settlement agent is to ensure that title is correctly conveyed with minimum complication and peace of mind to the client.

When do I pay my stamp duty?

If you are purchasing a property, you are required to give the sellers settlement agent a stamped transfer of land document prior to settlement. If you are borrowing funds from a lending institute, you will be required to arrange to have the stamp duty monies released prior to settlement.

When do I arrange a removalist?

Settlement Agents in most cases can give you a time for settlement prior to the due date. If you are required to arrange a removalist in advance, advise your settlement agent that you have arranged this so that they can endeavor to try and get your settlement arranged on the due date. Bear in mind that in some instances despite our best efforts circumstances outside our control may delay settlement.

My property has settled when do I get my money?

Once settlement has occurred the money will either be sent to you in the form of a bank cheque or banked into your account as per your instruction on the day of settlement. Bear in mind that bank cheques can take up to 5 days to clear, this is a banks policy not a settlement agents. Contact your bank once you have confirmation from your settlement agent that the monies have gone into your account.

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