Buying a home is both exciting and daunting, whether it be your first, second or third time buying.
At Rosebery Settlements, we strive to ensure that the process of buying a home is made as simple as possible by taking over all of the conveyancing side of the transaction.
With our vast experience in supporting our clients through the entire end to end process we have prepared a high-level step by step buying guide to ensure you know what to expect.
Offer & Acceptance
Once you have chosen a property to purchase, your Offer and Acceptance is completed with your Real Estate Agent or privately with the seller. Once your contract is accepted please remember to nominate Rosebery Settlements as your preferred Settlement Agent.
Under the terms of the Offer and Acceptance contract, you as the buyer, need to ensure the deposit amount is paid to the Real Estate Agent by the due date.
Appointment to Act
Once you have nominated Rosebery Settlements as your preferred Settlement Agent please reach out to us via email or phone and we will forward to you an Appointment to Act form for you to complete.
If the Offer and Acceptance contract is subject to finance approval you will need to provide a copy of the Offer and Acceptance to your financier as soon as possible. Once your finance has been approved you will need to provide a copy of the finance approval letter to the Real Estate Agent by the due date to ensure the condition is met and the contract is then unconditional.
Transfer of land
This document will be prepared by us and will be forwarded to you for signing. All buyers of the property will need to sign this document and your signature is to be witnessed by a person over the age of 18 that is not a party to the contract.
Signing mortgage documents
Once your finance has been approved, a copy of the Transfer of Land document will need to be forwarded to your financier so mortgage documents can be prepared and issued to you for signing. A Certificate of Insurance over the purchase property will also be required to provide to your financier.
When purchasing a property, stamp duty is applicable and payable to the Office of State Revenue prior to settlement. If you are borrowing the stamp duty from the financier, you will need to arrange with the financier for payment of stamp duty to be released prior to settlement.
If there are any conditions on the contract to be satisfied (e.g. Building and Termite Inspection report) these need to be completed by the due date on the contract.
You will need to arrange for the Final inspection of the property with the Real Estate Agent 7 days prior to settlement.
Once all parties are ready to go, we will arrange a time for settlement with your financier via PEXA (electronic conveyancing platform). Once settlement has been booked we will issue a final statement showing the funds required to complete the purchase.
Once settlement has been completed, we will notify you immediately along with your Real Estate agent and any other relevant stakeholders.
If the property is occupied, your keys can be collected at 12 noon on the day after settlement takes place. If the property is vacant, keys can be collected following settlement. You should arrange when to collect the keys for your property with your Real Estate Agent.