As a Vendor, what can I do to make settlement smooth and painless?
Note: If anyone tells you that settlement can be done in 2 weeks that is an outright lie. The standard settlement is 6 weeks. (It is just like baking a cake; it needs about 180 degree Celsius and takes 30 minutes. If anyone tells you that it can be done in 2 minutes, please do not believe that).
After the cooling off has ended
- Make sure you print & sign the Annexure A as soon as we emailed to you.
- Make sure you sign the Discharge form we emailed to you and email back to us immediately.
Be prepared to report to the Banking Ombudsman when we ask you to. There are times when the bank will muck around and refuses to discharge your loan for no reason. It is their delaying tactic. By reporting to the Banking Ombudsman, it will solve the bank’s stubbornness to discharge.
If you have paid off your loan, make sure you have the ORIGINAL Certificate of Title deed with you. Please locate it now.
- Check that you have all the keys, including the garage door that you have not used for a while. Any missing keys have it cut by the locksmith and get ready to give to the real estate agent when the time comes.
- Make sure you have the alarm code (If there is an alarm). Give it to the agent.
- Get rid of your rubbish. This includes any car spare parts under the house and car tyres in the back yard.
- Consider doing a garage sale to get rid of most of your unwanted items.
- Mown the lawn 1 week before settlement to avoid purchaser having an excuse to delay settlement
- Arrange a removalist in advance if necessary (especially if you are approaching Christmas).
- If you intend to move out, do that 1 week in advance and not on the day of settlement.
If you do not have accommodation:
You should plan way ahead: to rent back for 6 months, 1 month or 2 weeks. Be generous with the rent price as you are only staying for a short term. A higher rental price gives more incentive for the buyer to agree to your request. You are only staying for a short time, so a higher amount is not all that much.
On the day of settlement, we know that you are anxious, but do not call us as we are extremely busy. We will call you once the matter is settled. Usually around 4pm.
You can pick up the 10% deposit that was kept with the agent once we inform you and your agent at around 4pm on the day of settlement.
Make sure you check your email and phone for sms from us. Good delivery of information and that you check it regularly is important.
Thank you for your understanding and co-operation.