• Property Settlement – The Basics

    May 23, 2017

    What exactly does a settlement agency do? What are property settlement services? Are they necessary? These are the questions that have been asked many times before about this business. We know real estate can be confusing and complicated, so we’ve put together some information to help guide you.

    Firstly, a settlement agent is an agency which essentially exists to transfer the ownership of a property. You will need to appoint a settlement agent as soon as possible once you sign a contract of sale. However, your agent’s work really begins as soon as your finance had been approved.   

    A settlement agency is made up of multiple conveyancers who do the hands-on work of transferring a property. A conveyancer is a qualified professional, equipped to handle this transfer for you. The tasks your conveyancer completes will vary depending on if you’re buying or selling. If you’re selling, the conveyancer’s job is relatively simple - handling all legal documents and representing you in requests and queries from the buyer.

    If you’re buying, the conveyancer’s job is a little more complicated. They’ll be there to assist you with a wide range of tasks including –

    • Handling documentation such as title deeds
    • Completing official Transfer or Title documentation
    • Liaising with all parties to ensure finances are in order and everyone involved is ready for settlement
    • Ensuring outstanding fees to the local council, water and land tax authorities are paid and that the accounts are transferred to you, the new owner
    • Adjusting these rates and taxes to ensure you only pay for the number of days in the year that you actually lived in the house

    Clearly conveyancing is a very important job, so it’s important that you know the right questions to ask and choose the best option for you.

    Asking how often you can expect to be communicating with your conveyancer as well as their preferred communication method is a good start. Crescent Conveyancers’ property settlement services are backed by a friendly, professional team, so you know you’ll be getting the very best service available and always have someone there to answer any questions that may come up.

    It’s also important to check what sort of timeframes will be attainable on settlement day. This is especially important if you are arranging movers and other parties who may need access to the property. Crescent Conveyancers will be able to work with you, as well as the other parties involved to make sure it is as efficient a process as possible.

    Finally, remember to ask about fees and charges. Knowing this from the beginning will help you have a better idea of how much your new property is costing you in total and will ensure you have the most relaxing move possible.

    We understand that property settlement services can be a confusing world, but hopefully with this knowledge you’ll understand it a little better, and you can rest assured that Crescent Conveyancers know what they’re doing too. For more information, or to arrange a consultation, contact our team today!

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