Congratulations! If you are reading this you have made a successful bid at auction or have had an offer accepted on a home and have executed the relevant contracts.
In most cases the property will now be at your risk and it is therefore very important that you arrange appropriate insurance cover immediately. When you are choosing insurance you should carefully compare policies and conduct research. Ideally insurance cover research would have been done prior to the execution of the contract however this is not always practical for buyers as the market can move quickly.
You will most likely engage a solicitor or conveyancer to handle the transaction following execution of the contract to the date of settlement.
Your solicitor will liaise with the seller’s solicitor and your financier (if applicable) in relation to important dates and special conditions and will make appropriate arrangements for settlement.
You should discuss various search options with your solicitor and find out from your bank exactly what is required in order to effect settlement on the settlement date.
You should conduct a pre-settlement inspection of the property to ascertain that the property is in the same state that it was when you previously inspected it and that no damage has occurred, and that all inclusions listed in the contract are still present.
Your solicitor will attend settlement and, if you have a financier, they will also attend settlement. At settlement, the balance purchase price will be paid by you to the seller (after adjustments for items such as rates, water and body corporate levies) in return for documents allowing title to pass and for the property to be registered in the your name.
Home Moving Checklist
6 – 8 weeks weeks prior to moving you should :
- Obtain moving supplies eg boxes, sticky tape, permanent markers, scissors, a Stanley knife, newspaper, blankets, plastic storage bins, moving pads, rope and boxes.
- Have a garage sale or donate to charity any unwanted items.
2 weeks prior to moving you should:
- Make removalist arrangements. You should always choose a reputable removalist company. If you want to move yourself arrange a hire vehicle for the appropriate day. It is always a good idea to obtain a few quotes and compare prices. We can assist you will referrals if you need.
- contact your telephone and internet provider, electricity, pay tv, waste removal services, cleaning, security and water companies to set up a specific date when services will be discontinued.
- arrange start dates for the above services at your new property.
- If you are moving a long distance from where you currently reside, it is a good idea to contact people such as doctors, dentists, lawyers and accountants to request the transfer of your records.
- Check on your insurance coverage
On moving day you should:
- Have tools handy for dissembling furniture.
- Move valuables (such as jewellery, legal documents, family photos and collectables) yourself – don’t send them with the moving company.
- Make sure you have a complete home inventory of all possessions.
- Give every room a once over. Don’t forget to check the backyard, attic, garage and wardrobes.