SETTLEMENT DAY SELLERS | AUCTION
SETTLEMENT DAY
SELLERS EDITION | AUCTION
Settlement day is the day you pay the balance of the purchase price and the property becomes yours.
A number of things need to happen in sequence on settlement day between your lawyer or conveyancer, the seller’s lawyer or conveyancers and your bank or lender.
We have outlined this to show you each important step towards Settlement Day.
IMPORTANT DETAILS:
PRE-SETTLEMENT:
INSPECTIONS:
SETTLEMENT DATE:
1
AUCTION DAY
2
PRE-SETTLEMENT INSPECTION
• Contract signed and dated
• Copies sent to lawyer
• Congratulations you've sold your house unconditionally!
3
THE DAY BEFORE SETTLEMENT
• Usually a day or two before settlement
• The purpose of the inspection is for the buyer to check the property, garden & appliances are in the same or better condition when they last visited.
• Any new damage will need to be fixed by the seller before the property can change hands.
• Visit lawyer and sign the authority to transfer the title.
• Remember to be kind and courteous and leave your home clean and tidy!
• Ensure your home is in the same condition or better from when the purchasers last saw it.
4
CONFIRMATION TO SETTLEMENT
5
SETTLEMENT DAY! ITS NOW TIME TO DROP OFF THE KEYS
• Organise your moving company and advise all companies of your new address. (Insurance, Bank, IRD, etc.)
• Settlement may not happen until close to 5pm.
• Remember to organise a time with your lawyers to sign all the paperwork.
• Your agent will usually arrange the keys, but they will not give the keys to the buyer until your lawyers give them permission to do so.
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