Buying Your Home

Things to do before your sign

• Measure the property;
• Determine the availability of services;
• Examine the property for illegal structures;
• ALWAYS ensure that your contract is conditional upon finance approval if necessary.

Things to do after you sign
Once you have signed the Contract, you should take out insurance coverage for any buildings on the property.

If the deposit is due to be paid, you should do so, whether or not your finance has been approved.

Finance and Your Lender
If your contract is conditional upon the approval of finance, you must ensure that you make immediate application for your loan and do anything reasonably asked of you by your lender to secure approval.

It is usually the Purchaser’s responsibility to advise the vendor if finance has not been approved by the approval date, or has been declined.

Therefore it is essential that you contact us by the approval date specified in your contract, regardless of whether or not your finance has been approved.

If you do not advise the Vendor that finance has not been approved, the usual finance clause will allow the contract to become unconditional. It is critical that you ensure that we are made aware of any delay or problem with finance approval.

Meanwhile - What we are doing?

If you are obtaining mortgage finance on the property, we will make contact with your lender and will provide details required by them so that they can prepare the mortgage documents.

Some lenders (including most major banks) will arrange for you to sign mortgage documents at the branch.

Other banks and most other lenders will often send the mortgage documents to us, which we will then forward to you so that signing of the documents can be arranged.

We will order a title search and certificates from various statutory authorities. If any of these reveal a matter that conflicts with the information provided by the seller, or otherwise contains information that you should be made aware of, we will discuss this with you

Preliminary Settlement Arrangements
Shortly before settlement, we will prepare a Statement of Adjustments and settlement statement, which will be sent to you and to the Vendor’s Conveyancer.

You should carry a final inspection during the week leading up to settlement.

Settlement
Settlement is the process where all the parties to a Conveyancing transaction come together to complete the transaction.

The parties that usually attend a settlement are the Purchaser’s Conveyancer, the Purchaser’s Mortgagee, the Vendor’s Conveyancer and the Vendor’s Mortgagee.

Generally, settlement takes place at a time suitable to the Purchaser, but this will also need to suit the Vendor, the Vendor’s Conveyancer, the Vendor’s bank and the Purchaser’s bank. While this may seem complicated to arrange, we will make these arrangements for you.

If you require the property by a specific time of day, you should let us know, and we will be happy to try and meet your needs.

After Settlement
We will contact you and confirm that your purchase has been completed, and then contact the agent so that the keys can be released to you.

We will notify the local council and the water board of the change in ownership.

If you have borrowed against this property, your lender will normally take the title and transfer documents, arrange for the registration of the transfer into your name, and hold the title until you have repaid your loan.

If you have purchased for cash, we will arrange for the transfer of the property to be stamped and then registered with the Titles Office. When the title issues back to us from the Titles Office, we will let you know.

Location
V.I.P. Conveyancing is Located on Nepean Highway in Chelsea, Chelsea is a suburb located in South Eastern Suburbs of Melbourne, surrounded by Carrum Downs, Frankston North, Karingal, Edithvale, Chelsea Heights, Bonbeach, Carrum, Aspendale and Seaford. In addition to the surrounding suburbs, V.I.P. Conveyancing values every client as family and we do Conveyancing anywhere in Victoria.