SETTLEMENT CHECKLIST
To help make settlement easier, we have put together a guide of what to expect and prepare for before, during and after settlement.
As always, please reach out to Customer Care if you need any assistance.
CUSTOMER CARE
Frasers Property Australia Pty Ltd
Tel: 13 86 88
Email: customercarevic@frasersproperty.com.au
TIMELINE
OUR TO DO LIST
Now We’re here to assist with any questions or concerns you may have. Let us know if we can assist in any way.
YOUR TO DO LIST
• Let us know if you change your phone number or e-mail address.
• Keep an eye out for your monthly updates for the latest settlement forecast and construction status (you’ll start to receive updates as soon as construction has commenced).
• Check that you have access to your Property Tracker and the myFrasersProperty app so that you can easily refer to your construction updates: https://www.frasersproperty.com.au/PropertyTrackers/VIC/Bradmill-Yarraville
• Appoint a legal representative (solicitor or conveyancer) and provide them with a copy of your contract.
• Plan the settlement process with your legal representative (discuss stamp duty, estimate your balance payment, and arrange verification of your identity). We are unable to manage or assist with inquiries related to stamp duty or individual property tax.
• Commence applications for any grants you may be eligible for.
• If you are selling property to finance your purchase, begin to discuss this with local real estate agents (if you have not already) and find out when they suggest listing your property on the market to be ready for settlement. Keep them informed about changes to the settlement forecast.
• If your purchase is an investment, let us know – we’d love to introduce you to our Property Management team.
TIMELINE OUR TO DO LIST
5 & 7 months before settlement
3 months before settlement
We will reach out to have a chat and offer guidance in preparing for your settlement.
YOUR TO DO LIST
• If you will be obtaining a loan, begin to discuss lending capacity with your broker and start to collate any documentation they will require for your application.
• If you have cash funds set aside for settlement, ensure these are available in an Australian account and assess whether you will need to withdraw any funds from investment.
• If you are selling your residence to finance your settlement, don’t forget to consider you may need to find temporary accommodation for the time between settlement of your current property and your new home. Ensure any settlement terms agreed with your buyer will not delay settlement of your new home.
We will reach out to remind you to commence your loan application (if you have not already).
• Commence your final loan application and advise your broker/bank that we will send confirmation once valuation access becomes available.
• Provide your legal representative with the latest forecast for settlement and introduce them to your broker/bank.
• Consider whether you would like to order any additional blinds for your new home.
• We will invite you to attend a Preview of your new home subject to construction availability and builder access. Once you’ve received your Preview invitation, feel free to book your Preview.
6 to 8 weeks before settlement
We will confirm valuation access is available.
• Once we’ve confirmed valuation access is available, please forward our valuation Invitation to your broker/bank so their valuer can schedule an appointment with us.
• If you applied for a loan, let your Customer Care Consultant know once you’ve obtained conditional approval.
• If you were planning to sell your property to finance your purchase but have not yet found a buyer, you may want to consider applying for a bridging loan.
• Consider whether you will be engaging a building inspector for your upcoming Pre-Settlement Inspection.
TIMELINE OUR TO DO LIST
1 month before settlement
21 days before settlement
We will send you an invitation to book your Pre-Settlement Inspection.
YOUR TO DO LIST
• We will send you an invitation for your Pre-Settlement Inspection. Once you receive the invitation, please book your Pre-Settlement Inspection on the nominated date/time. If you cannot attend, you can nominate a friend, family member, or building inspector to conduct it on your behalf. Ensure that your building inspector can attend during the scheduled time, as only one appointment can be offered.
• This inspection allows you to assess and inspect your future property and take any necessary measurements. During this inspection, we will guide you through a presentation of your home, walking through the main elements of your property. It’s important to verify any defects requested to be rectified, and our care consultant will take note and provide a report after the inspection. The final inspection is also an opportunity to check that all fixtures and fittings included in the sale are present and in working order.
• Let us know once you’ve finalised your loan and received finance approval (Note: your approval should only be subject to title registration and issuance of the Occupancy Permit at this stage).
• If you need to release any funds from investment, coordinate this now (if you have not already).
3-7 days before settlement
We will attend your Pre-Settlement Inspection and spend some time introducing you to your new home. We will also report any defects identified to the builder.
• After attending your Pre-Settlement Inspection, we will provide documentation, including the Pre-Settlement Inspection report and the Pre-Settlement Inspection Checklist. If you engaged a building inspector, please send their report to us within two business days of the inspection.
• Once our solicitor has provided your legal representative with notice of title registration and Occupancy Permit issuance, share this with your broker so that your finance approval can be finalised, and loan documents prepared.
• Complete and return final loan documentation to your broker.
• If you’re renting, this is the earliest time you should give notice to your landlord – make sure to check your broker is on track before doing so, as you cannot move in before settlement has occurred.
Our solicitor will provide your legal representative with the final settlement adjustments.
• Check in with your legal representative and broker/bank to ensure everything is ready for your upcoming settlement.
• If you’re settling with any cash funds, transfer these to the bank account nominated by your broker and/or legal representative.
• Coordinate your utilities and internet connections with service providers (refer to our Move-In Guide for a service provider list).
TIMELINE OUR TO DO LIST
2-5 days before settlement
We will send you an invitation to collect your keys.
YOUR TO DO LIST
• Confirm the settlement booking time with your legal representative and schedule your Key Handover via the booking link in our invitation.
• To avoid any delay in handover of your keys, please book your appointment at least two hours later than the time scheduled for your settlement. We cannot provide the keys to your home until settlement has occurred.
• Check once again that the myFrasersProperty app is set up and working (this is how you will log any defects post settlement).
Day of settlement
After settlement
- 3-month defect period
We will hand over your keys and settlement pack.
Congratulations!
2 months after settlement
We will acknowledge receipt of any new defect requests within the 3-month defect period and report these to the builder if they meet the Standards and Tolerances criteria.
Once your defect has been addressed, we will confirm this with you via the myFrasersProperty app.
• Collect your keys and settlement pack, including related warranties and manuals. If you cannot attend, you can nominate a friend, family member, or property manager to do the handover on your behalf with your signed authority.
• Check on the status of the defects raised during your Pre-Settlement Inspection via the myFrasersProperty app.
• Don’t forget to connect utilities and internet connections (to take some of the pressure off, we’ll give you 5 days grace to arrange for transfer).
• It’s time to move into your new home! Make sure to follow the instructions in your Move-In Guide and Homeowner Manual, and make sure that your removalist has the necessary insurance.
• If your property includes any irrigation and appliances, set these up as soon as possible.
• Once your Owners Corporation has received notification of settlement from your solicitor, they will introduce themselves and send you their welcome pack.
• If you notice any defects (within the 3-month defect period), please log these as a new request in your myFrasersProperty app. Please refer to our Post-Settlement Defect Policy for more information.
• If you’re leasing, ensure your Property Manager knows how to access the settlement pack information and is aware of our Post-Settlement Defect Policy.
• If you have not yet received any correspondence from your water authority or council, reach out to confirm they have registered your details against the property.
TIMELINE OUR TO DO LIST YOUR TO DO LIST
3 months after settlement Introduction of your Customer Care Relationship Manager.
• Your Customer Care Relationship Manager who will be working closely with your Customer Care Consultants, and the builder to keep you informed on the status of your 3-month defect requests.
• Please don’t hesitate to contact your Customer Care Relationship Manager, should you have any concerns regarding a request raised for your property. You can reach her by phone at 13 86 88 or by email at customerrelationsvic@frasersproperty.com.au.
• For any open requests, the builder will continue to work on them, and Customer Care will contact you as your requests are marked as resolved.
The Defect Liability Period (DLP) is the period to notify the building contractor of non-structural defects for your property. The defect liability period and your ability to have these types of defects rectified by the builder concludes 12 months after practical completion. Practical completion is when the builder has completed the works in accordance with the plans and specifications, subject only to minor defects and omissions, and the house or building is reasonably suitable for occupation or being used for the intended purpose. This includes the issuance of all required occupancy permits;
Examples of these types of defects, which are defined under appropriate standards and codes (Victorian Building Authority; Building Code of Australia) would include items like sticking doors or windows or tile grout that may be loose; minor cracking of plasterboard due to building movement during the Defect Liability Period. Defects that would be excluded would be normal wear and tear items; scratches to walls and surfaces through occupying the property.
Your Customer Care Relationship Manager will be managing all defects for the life of the warranty. Please don’t hesitate to contact them, should you have any concerns regarding a request raised for your property. You can reach out by phone on 13 86 88 or by email at customerrelationsvic@frasersproperty.com.au.
All defects must be logged via the myFrasersProperty App. For any open requests, the builder will continue to work on them, and your Customer Care Relationship Manager is available should you need to discuss further.