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Selling a house


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Sale-Conveyancing-Step-6

SETTLEMENT / COMPLETION Summary of what we will learn in this webpage: What do we expect to receive from the purchaser’s solicitor about 2 weeks prior to the day before Settlement As a vendor, we expect to receive the Settlement Adjustment Sheet, and its supporting s603 and s66 certificates We go through how to work out the Settlement Adjustment Sheet, and therefore How much is the vendor going to put in his pocket from the sale of this property Step 6 : 1) A day or 2 before settlement, we would receive the loan payout figure from the lender. This payout figure is the amount of loan that the vendor still owes the bank and this amount needs to be paid on settlement day for the lender to discharge / release the vendor from the loan. 2)  Normally a couple of weeks before till 3-4 days before settlement, we would also receive from the purchaser or the purchaser’s solicitor a  settlement adjustment sheet  and its  supporting s603  and ...
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DSL Law Overview

  DSP Law  is a small firm of solicitors located in the Sydney suburb of Auburn; (if you are coming by train, we are only about 3 mins walk from Auburn train station.    Auburn train station is about 25 mins by train from Sydney CBD, 10 mins by train from Parramatta.) Our law firm has been established in Auburn, Sydney for the past 19 years. The principal solicitor has over 20+ years of experience in different areas of law. If you engage us to do your conveyancing for you, rest assured you are in safe hands. You will also be informed every step of the way, and if there’s anything you do not understand or want to find out more, please read the preceding web pages, or ring us and we’ll explain. When you ring us, you get directly to us, solicitors, and we’ll answer your questions on the spot. You will not waste your time talking to file-opening managers or administration staff. We speak English, Arabic, Mandarin, and Cantonese. We do other areas of ...
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Sale-Conveyancing-Step-5

AFTER EXCHANGE – THINGS THAT MUST BE DONE Summary of what we will learn in this webpage: If the vendor has a mortgage, we need to ask the bank for a discharge of mortgage It is a requirement to serve the Land Tax Section 47 Certificate, and why must we serve before a certain time We may need to apply for the “Foreign Resident Capital Gains Withholding Clearance Certificate” How to reply to Requisitions on Title If this is a paper settlement, how to fill in the Transfer form  Step 5 :  After exchange,  as a vendor, there is 1, possibly up to 4, things that need to be done between exchange and completion date (also called settlement date; completion and settlement are called interchangeably). Preferably, we will do these right after exchange. 1) If the property the vendor is selling has a mortgage (there is a mortgage if on the  Title Seach  document, there is a dealing entry about mortgage to a particular financial institution), obviou...
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