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What Happens Next?

January 23, 2020

Hi guys,

 

Congratulations again on your purchase of 89 Lucan Ave, Aspley. 

 

We will chat in detail, however, the below is to set the framework between now and settlement and what needs to happen. 

 

 

Key Dates: 

 

  • 23/01: Exchange of contracts 

  • 28/01: Deposit of $1,437.50 due 

    • I will send the details via SMS 

  • 30/01: Building & pest clause ends 

  • 30/01 at 5pm: Cooling off clause expires

  • 10/02: Remaining deposit of $27,312.50 due 

  • 06/02 at 5pm: Finance clause ends 

  • 06/02 at 5pm: Due diligence period ends 

  • 21/02: Settlement 

 

Legal: 

 

  • Sam Saad from CLW Lawyers will be working with the vendor's solicitor on exchange/settlement. I will work with Sam on this and keep you in the loop

  • In a few weeks time you will need to complete the required purchasing forms;

    • Client authorisation to settle the purchase via PEXA, the digital settlements platform

    • Verification of identity form 

    • QLD purchasing form 

      • These forms can be signed electronically and will be sent in the next couple of weeks and we can discuss them in detail when the time comes 

  • A few days prior to settlement Sam will provide a disbursements sheet, which will include the final payments i.e stamp duty, adjustments, etc. I'll coordinate this with Sam and share for your review/approval when the time comes

  • Once the settlement sheet is approved you can transfer your funds to CLW Lawyers trust account. They will then distribute to the correct people as required on settlement 

 

Mortgage: 

 

  • I'm working with Peter on the purchase, keeping you updated on the mortgage requirements. 

 

Insurance: 

 

  • In QLD the insurance liability rests with you at exchange. We will need a policy in place from Friday 31st at 5pm

    • I will arrange quotes for your review and approval. 

 

Building & Pest Report:

 

  • We are booking our team in for this Wednesday 29th

    • I will have the full review to you on the same day. 

 

Pre-Settlement Inspection: 

 

  • We will conduct this on Thursday 20th of February. This is to ensure we're happy the property is in the same condition as it was on exchange. 

 

Property Management: 

 

 

Full Property Due Diligence: 

 

  • We are now undertaking the full due and will be ready to present on Friday 31st of January. 

 

Please let me know if you have any further questions?

 

Thanks, Michael 

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