Part 3 – Buying A Strata Property

Your Conveyancer or Solicitor

So your conveyancer or solicitor has contacted you, they’ve got your contract, and it’s time to sign.

They will go through the contract with you either in person or via email.

They’ll make sure the contract is in the correct terms and advise you accordingly.

It’s now time to sign and pay your deposit to the real estate agent.

Don’t panic, your contract is still not binding until ‘exchange of contracts’

You can decide not to buy, without the contract terms imposing any penalty on you, prior to exchange.

Contracts have been exchanged and all the time limits start to run:
– strata inspection report (that’s us)
– pest and building reports
– finance approval
– and any other conditions that were agreed on
– and the settlement date

In the period between exchange and settlement, your conveyancer / solicitor is working hard behind the scenes.

They’re liaising with:
– you
– the vendor’s representative
– your bank’s representative
– the agent
– the strata inspector (that’s us again)
– the pest and building inspectors
– the council and water authority

They’re fixing any unexpected problems that might arise.

Settlement is approaching and everyone is working towards that date.

The final amount due on settlement is being calculated and this is being communicated to you and your bank.

It’s settlement day!

Everything is organised, all you need to do is be packed and ready to move in.

Settlement has occurred, your conveyancer / solicitor will contact you to confirm this, now you can pick up the keys from the agent and start moving in.

Your conveyancer / solicitor is your best friend during this process.

This is a general overview and each transaction will be different.

H  A  P  P  Y      M  O  V  I  N  G   💒

Click here for Part 1 –  The Real Estate Agent
Click here for Part 2 – Your Banker or Mortgage Broker
Click here for our Moving House Checklist