Settlement for sale or purchase of property
Buying or selling property is arguably one of the largest
and most stressful transactions to undertake. At Eckermann
Steinert Conveyancers we pride ourselves on providing first
class quality service to ensure that the process is completed
in the smoothest possible manner.
In addition to advising you on the general aspects of buying
or selling real property (preferably before signing a contract),
Eckermann Steinert Conveyancers will:
- Peruse your contract and Form 1 (cooling
off rights and property details) and advise you of
any implications.
- Offer independent advice on special
conditions for protection to be included in the contract.
- Advise
whether you should buy as joint tenants or tenants
in common.
- Advise you of your responsibilities
in regards to insurance.
- Inform you of the obligations,
regulations and responsibilities when buying a strata
unit or community lot.
- Advise of all settlement costs.
- Advise
you on the Stamp Duty Concession for First Home Buyers.
- Obtain
and examine the title and statutory searches to ensure
there are no outstanding charges on the property.
- Advise
on the preparation of transfer of leases when buying
an investment property.
- Explain
the following terms:
- Restrictive covenant
- Caveat
- Encumbrance
- Easement
- Party wall rights
- Rights of way
- Worker’s lien
- Advise if a caveat is required to protect
your interest.
- Assess rates and taxes you will have
to pay and discuss any land tax implications.
- Liaise
with your bank in regard to discharging your mortgage
if selling, or providing information for your loan
when buying.
- Prepare a Memorandum of Transfer and
such other documentation as necessary to transfer
the property.
- Arrange for the Government Stamp Duty
to be paid on the transfer prior to settlement.
- Apply
for a reading of the water meter and calculate the
water used by the vendor to settlement date.
- Prepare
a settlement statement and forward it to you prior
to settlement so that you know what you need to pay,
or what you are to receive.
- Co-ordinate and attend
settlement on your behalf.
- Arrange a bank cheque for
all monies to be paid at settlement.
- Once settlement
is completed, advise you that settlement has occurred,
forward change of ownership advice to local council,
SA Water and strata manager, pay any outstanding
rates and taxes, and deposit your proceeds if required.
- Advise
you on any other real property matters such as:
- Family transactions
- Private sales
- Sale and purchase of business
- Land and community divisions
- Strata applications and amendments
- Commercial leases
- Mortgages
- Applications to register change of name
- Marriage or death
- Power of attorney
- Caveats
Call Eckermann Steinert Conveyancers for further details
and information.
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