Settlement Date is the date the Purchaser takes possession of the Property and a specific date is usually referred to in the Contract of Sale.
Right Choice Conveyancing were one of the first Victorian Conveyancing firms to settle on the new PEXA electronic Platform (Property Exchange), being trusted with the first settlement process televised from our office.
Electronic settlements leave less room for error and means that when you are selling, your funds will be in your account as cleared funds within minutes of settlement.
When you are Purchasing, your names will be immediately registered as the Proprietor on the Certificate of Title and Land Victoria.
With the old the paper settlements the process was a lot slower and for your sale you would still have to wait for three business days for your funds to clear in your account. For your Purchase settlement, it previously took weeks for you to be noted on the Certificate Of Title as the Registered Owner of the Property.
Our Conveyancers are highly trained in Pexa electronic settlements and we hold the highest possible insurances to protect your interest.
Documents required to Transfer the property out of the Vendors name and into the Purchasers name are handed to the Purchasers representative and incoming Mortgagee for inspection. Once good title has been established and all parties are satisfied, settlement is deemed to have been effected. Both the Vendor and Purchaser will then be contacted by telephone to be advised settlement has occurred.
For further information or specific questions answered, please do not hesitate to contact us.