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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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Buy-Conveyancing-Step-4

EXCHANGE Summary of what we will learn in this webpage: How much deposit should a purchaser pay on Exchange Where should a purchaser sign on the contract Step 4 :  After reading the contract ( Contract  +  Special Conditions  + the required documents like the  Deposited Plan ,  s10.7 Planning Certificate  and  sewer diagrams ), if we are still satisfied, we will now be able to sign on the first page of the  Contract , pay the required deposit and exchange. At this stage, we should at least have pre-approval ready from the bank, if not unconditional loan approval. Deposit: 1) The deposit could be 0.25% of the price, and this normally gives the purchaser 5 business days cooling off period, during which the purchaser can change his/her mind and not proceed to buy the property but forfeit the 0.25% to the vendor. If by 5pm on the 5th  business cooling-off day, the purchaser is still happy to proceed with the purcha...
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