Selling a Property
By the time you are ready to talk to a settlement agent, you have probably had lots of home opens, lots of interest and finally a sale. To ensure that the sale process runs smoothly, we recommend that you contact us before the sale, so that we may help you prepare and guide you from start to finish and ensure everything runs smoothly.
You may wish to contact a Licensed Settlement Agent (Conveyancer) prior to entering into a contract to purchase a property. They will have your best interests and will support you to navigate your way through this process.
Things to consider to be included in your offer and that the Contract meets your needs, including:
An appropriate settlement date for you. Do you want to settle on a particular date, or time? Are there any circumstances such as FIFO worker, going on holiday, or reasons that you are not available during the course of settlement. Take these things into consideration when calculating the settlement date that works for you. Remember to include any conditions that you feel important. Include items that you expect to stay with the property, if it appears to be a grey area. I.e. TV brackets, speakers on walls with stereo system.
Important factors when signing the Contract, that may affect your ability to settle.
Here are a few items that may be an issue if there are no allowances made on the Contract or the timing of settlement. structures (e.g. patios, sheds), that do not have council approval, a shortfall to pay-out your mortgage, deceased estates or a lost title deed.
Speak to Fast Settlements about what preparations you can make now to ensure that your settlement will be as smooth and seamless as possible, with no surprises.
With Fast Settlements, you only have to worry about the moving side of things. We’ve got the paperwork covered.
Once you’ve signed the Offer & Acceptance Contract, your Real Estate Agent will forward a copy to us so that we can prepare the initial paperwork.
Fast Settlements is known for our fast turnarounds, and your initial documentation will generally be posted or emailed to you as soon as we complete our initial searches and enquiries. We also offer an email service, if you prefer to receive documents electronically.
At this point, your Conveyancer will be in touch with you to discuss the pertinent dates of your Contract and any factors which may affect this, such as holidays or work. We’ll keep you updated on the progress of your settlement, and advise you once key milestones are met (such as the buyer receiving their finance approval).
You can telephone, email or even pop in and visit your Conveyancer!
Once you’ve signed the Offer & Acceptance Contract and it has been accepted by the Seller, your Real Estate Agent will forward a copy to us so that we can prepare the initial paperwork.
At this point, your Conveyancer will be in touch with you to discuss the pertinent dates of your Contract and any factors which may affect signing and preparing for settlement in a timely manner, i.e. holidays or work commitments.
We will keep in contact with your agent to ensure that any conditions such as finance or inspections (termite, building etc.) are completed by the Buyers on or before the due dates specified on the Contract.
If you have a mortgage on the property you’re selling, you will need to contact your bank, to advise them you have sold your property.
To ensure that your settlement progresses smoothly, you should also ensure that all of your bank (Discharge Authority) and settlement paperwork is signed and returned promptly.
We know that the paperwork can sometimes be overwhelming, so we’re available to discuss any questions that you have.
VERIFICATION OF IDENTITY
All buyers in Western Australia are required to be identified by their Conveyancer prior to settlement. A combination of ID documents, such as your current Driver’s Licence, Passport, Birth Certificate and Medicare Card should be provided to our office to assist with this requirement.
How to verify your identity
We offer three options for you to complete your identification:
- Come into our office.
- Go to your local Australia Post outlet. Before you go to the post office, get in touch with your Conveyancer so they can send you the necessary form, with our unique barcode to ensure that your ID reaches us safely. Australia Post charges per person to verify your identity.*
If these options are not convenient, please contact us to discuss alternate arrangements.
If you don’t have a current Passport, current Driver’s Licence or Birth Certificate, advise your Conveyancer as soon as possible so that alternative arrangements can be made to complete your identification.
We cannot proceed to settlement until you have been successfully identified, so failure to provide sufficient ID documents may cause a delay with your settlement.
Storing your documents
We also store copies of your settlement documentation for a minimum of seven years after settlement.
This step is mainly from your side. You will need to ensure that you have contacted the services and made arrangements for final accounts and readings to be completed for settlement date. You should also contact your insurance company and advise them that the property has been sold. We recommend that you hold the insurance until the day after settlement date, to ensure that you are covered, should any incident occur during moving.
If the property is your principal place of residence, then you are entitled to remain at settlement and must be vacated by 12.00p.m. the following day.
We would also recommend that you book your removalist.
We will behind the scenes, making enquires on your behalf and update along the way to ensure that we are all working towards the same goal, settlement!
FINAL INSPECTION BEFORE SETTLEMENT
Your Real Estate Agent may contact you a few days prior to settlement to arrange for a final inspection of the property. The buyers are entitled to inspect the property to confirm that all gas, electrical etc are in good working order for settlement. Any items found not to be working, unless there is a specific clause on your contract, you may need to have this repaired for settlement.
When settlement date has been established, please liaise with your Agent to arrange for the formal handing over of the keys after settlement has been completed.
KEYS & POSSESSION
Once settlement has taken place, we will notify you.
As explained in step 3, the buyers is entitled to the keys 12.00p.m. the following day.