Your Offer is Accepted

Once your offer has been accepted for a property, there are still several steps to go through:

1. Pay the deposit:
   1. The day after the expiry of cooling off period you are required to pay the deposit into the nominated trust account.
2. Arrange building insurance
   1. Ensure adequate cover for the building and outbuildings, etc with immediate effect
3. Take the property off the market
   1. The agent will do this by marking it as ‘Under Offer’ on the internet and placing an ‘Under Offer’ banner on the signboard
4. Liaise with your Conveyancer:
   1. Forward a copy of the sale contract to your conveyancer, or ask your agent to do so
   2. Provide all required information to the conveyancer in a timely manner to avoid delay of settlement
   3. Confirm settlement date a few days prior
5. Liaise with your Lender:
   1. Forward a copy of the sale contract to your lender, or ask your agent to do so; Finalise your loan application and provide all required information to your lender, if not already done. Immediate attention to this will avoid a delay in getting your loan approved.
6. Book building & pest inspection:
   1. Call your preferred building & pest inspector to get the inspection completed (preferably) before the end of cooling off. The inspector will liaise with your agent about entry to the property.
7. Obtain quotes from a removalist:
   1. Contact a number of companies for quotes and availability on the expected settlement date.
   2. Re-confirm once your conveyancer confirms settlement has been booked
8. Arrange connection of services
   1. Contact your preferred suppliers (gas, electricity, telephone, etc) and book connection from the expected settlement date or the day before if necessary.
9. Obtain keys
   1. Arrange for handover of keys with the agent; this is usually after the settlement has been confirmed.
10. Move in and enjoy your new home!

Contact Margarete here