The Settlement Process For a Buyer and What to Expect

Settlement is the most crucial step in purchasing your new home, and while it can seem daunting, it is a well-structured process handled by professionals. Understanding what to expect in the days leading up to and on settlement day itself can ease your worries and prepare you for this exciting milestone.

The Pre-Settlement Inspection

On the morning of settlement (typically), you will conduct a final inspection of the property. This is to ensure that:

• The property is in the same condition as when contracts were exchanged.
• All inclusions are present and in working order.

• Your Role: We recommend that you thoroughly inspect the home to confirm everything is as expected. A clean and empty property is an ideal situation to assess.
• The Outcome: Your satisfaction with the property's condition will pave the way for a smooth settlement process.

The Settlement

Settlement typically involves a meeting of legal and financial representatives from both sides (you are not required to attend). Here’s what happens:

• Your Conveyancers/Solicitors Role:
  • Attend the settlement on your behalf.
  • Coordinate with the seller’s legal team to ensure all payments are processed.
  • Confirm the transfer of ownership documentation.

• The Seller's Solicitor's Role:
  • Attend the meeting on behalf of the seller.
  • Hand over all necessary documents for the transfer.

• The Agent's Role (On receipt of the Order on the Agent):
  • Hand over the keys to you

It's Time to Celebrate

It's time to celebrate! You have completed the purchase and you can now focus on moving forward.