| Buying property process
Pre-Contract
• Review contract and attached documents(*)
Prescribed documents:
o Title
o zoning cert. (s149)
o draining and sewerage diagram
o an identification survey
• Solicitor negotiates and amend contract
• Perform search and enquiries
o Title: vendor name(s) is/are shown exactly the same in the first schedule
o zoning cert. (s149): use of the property (Residential)
o draining and sewerage diagram: convenient (eg not across the front)
o an identification survey (can rely a recent survey (2 year), if any)
• Perform inspection such as building, pest, strata, survey, occupation certificate and building certificate
• 66W certificate, if need
Exchange
• Executed contracts are exchanged and
• Pay deposits (usually 10%, including the expression of interest deposit, if any)
Post Exchange/Pre-Settlement
• Lodge caveat, if necessary
• Conveyancing warranties
• Order standards set of rates and other enquiries
• Send requisitions to vendor solicitor
• Prepare Transfer
• Prepare stamping the contract and transfer
• Arrange financing (mortgage)
• Prepare draft settlement figures for vendor agreement
• Prepare settle cheques (with incoming mortgagee)
• Final title search
Settlement
• Received cheques from mortgagee and hand over documents
• Hand over cheques and Order on the Agent to vendor representative and received documents
• Complete Notice of Sale and hand to mortgagee
Post-Settlement
• Registration
(*) in accordance with the relevant Conveyancing Act and Regulation.
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