The Settlement Cycle

  1. SIGNED OFFER & ACCEPTANCE CONTRACT - Your Offer and Acceptance contract is completed with your Real Estate Agent. The team at First National Patience will then forward a copy directly to your nominated Settlement Agent on your behalf.
  2. APPOINTMENT TO ACT FORM - Your nominated Settlement Agent will forward an Appointment to Act form for your completion. You will need to complete, sign and return the original copy of the form to your Settlement Agent.
  3. SPECIFIC CONDITIONS - Specific conditions including Finance Approval and / or Building Reports are to be completed and satisfied. You will need to provide a copy of your Finance Approval letter to our friendly team to satisfy a finance clause.
  4. TRANSFER OF LAND - Documents including the Transfer of Land document are prepared by your nominated Settlement Agent which you are then required to sign and return as early as possible.
  5. MORTGAGE DOCUMENTS - If you are using a Financial Institution or Broker to fund the purchase of the property, the mortgage documents will be forwarded to you for you to sign and return. Doing so as early as possible will minimise the risk of a delayed settlement.
  6. WHITE ANT CERTIFICATE - A Pest Inspection is generally a condition on the Offer and Acceptance Contract and is completed once Finance Approval has been issued. First National Patience can coordinate this inspection on your behalf. Your Settlement Agent will then require you to sign to confirm satisfaction of this condition.
  7. FINAL INSPECTION - Your Property Consultant will contact you to arrange a Final Inspection approximately one week from settlement to check all gas, plumbing and electrical components of the property are in good working order and to ensure any other Special Conditions on your contract have been satisfied.
  8. ARRANGE SETTLEMENT - Your Settlement Agent will liaise with your Financial Institution to arrange a time for settlement. (At this time, funds will be requested if cash is required)
  9. SETTLEMENT COMPLETE - Once settlement has been completed, your Property Consultant will contact you to confirm settlement is complete and arrange for the hand over of keys.