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Overview of the Settlement Process

Settlement & Conveyancing Process - At a Glance

Settlement agents reduce the confusion of the settlement process. The following is a step by step summary of a basic settlement.

1. You list Goldfields Settlements as your settlement agent or conveyancer on the offer and acceptance form when buying or selling.
2. Your real estate agent forwards us the contract.
3. We contact you to confirm your details and prepare initial documents, including an authority to act on your behalf and verifying your identity to protect you from fraud. We also contact your real estate agent.
4. Once the buyer receives finance approval, we open a PEXA workspace (if acting for the Buyer) and invite the other parties or commence preparation of legal documentation if it is to be a paper settlement, and make the necessary enquiries of authorities.
   At this point we also contact your bank requesting them to commence document preparation, and also your real estate agent to ensure any reports required in the contract are ordered.
5. We enter all relevant details and financials into the PEXA workspace and remain in contact with both yourself and your bank to ensure documentation is complete and have been signed, confirm funds available from, or required by the bank, and that the bank is ready to proceed to settlement.
6. The final inspection is completed between buyer, seller and the real estate agent, usually 4 or 5 days before settlement so there is time to ensure all conditions of the contract have been met.
7. After final inspection and satisfaction (or waiver) of all conditions, you instruct us to proceed to
   settlement.
8. Once settlement has been confirmed with all parties, we advise both you and the real estate agent of the date and time.
9. We confirm all details are correct in the PEXA workspace are correct and sign off on the settlement to enable the settlement to take place at the appointed date and time.
10. Following completion of settlement (usually within 30 - 60 minutes of it commencing) we advise both you and the real estate agent immediately afterwards that settlement has taken place.
11. You move into your new home, or out of your old home, as the case may be!

Independent • Local • Thorough