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.