Once the unconditional approval offer has been obtained from the lender, their legal team is instructed to prepare the official loan documents and book settlement.
These will be mailed to you by the lender via express post.
We sit down with you to explain the loan documents and help you sign them up properly. It’s important not to make any mistakes as it can slow down settlement.
Originals need to be posted back to the bank and depending on Australia Post can take 2-3 days
The bank will review original loan documents and assuming all is OK, the bank will liaise with your settlement agent to book a settlement date. If you are buying a property, you will usually have a maximum date as specific in the contract of sale.
In this time, you need to do your final inspection and transfer funds to your settlement agent.
After settlement, you can collect the keys from the agent and start to move in.