Property Settlement

Settlement for sale or purchase of property

Buying or selling property is arguably one of the largest and most exciting, yet potentially stressful transactions you will undertake.

At Eckermann Conveyancers we pride ourselves on providing first class service to ensure that the process is completed in the smoothest possible manner.

In addition to advising you on the general aspects of buying or selling real property (preferably before signing a contract), Eckermann Conveyancers will:

  • Peruse your contract and Form 1 (cooling off rights and property details) and advise of any implications
  • Offer independent advice on special conditions that may be included in the contract
  • Advise you on the different consequences between buying as joint tenants or tenants in common
  • Advise you of your responsibilities in regard to insurance
  • Inform you of the obligations, regulations and responsibilities when buying a strata unit or community lot
  • Advise you of all settlement costs
  • Advise you on your eligibility to qualify for the First Home Owners Grant
  • Obtain and examine the title and statutory charges to ensure that there are no outstanding charges on the property
  • Advise on the preparation or transfer of leases when buying an investment property
  • Advise if a caveat is required to protect your interest
  • Calculate rates and taxes to be adjusted on the property and discuss any land tax implications
  • Liaise with your bank in regard to discharging your mortgage if selling, or providing information for your new loan when buying, if applicable
  • Prepare a Memorandum of Transfer and such other documentation as necessary to transfer the property
  • Arrange for the Government stamp duty to be paid on the Transfer prior to settlement
  • Apply for a reading of the water meter and calculate the water used by the vendor to settlement date
  • Prepare a settlement statement and forward it to you prior to settlement, so you know what you need to pay, or are to receive
  • Coordinate and attend settlement on your behalf
  • Arrange a bank cheque for all monies due to be paid at settlement

Once the settlement is completed, advise you that settlement has occurred, forward change of ownership notifications to local council, SA Water and strata manager, pay any outstanding rates and taxes, and deposit your proceeds if required

We can also advise you on many other real property matters such as:

  • Family transactions
  • Private sales
  • Sale and purchase of business
  • Land and community divisions
  • Strata applications and amendments
  • Commercial leases
  • Mortgages
  • Applications to register name change
  • Marriage or death
  • Power of attorney
  • Caveats

Download this information on Settlement for sale of purchase of property as a PDF.