What is a settlement agent?

A settlement agent (also known as a conveyancer) is a licensed, qualified agent who handles the preparation of legal documentation required for transfer of ownership when you are selling or buying a property.

Your Prompt Settlements settlement agent will ensure you understand any encumbrances on the title of the property you are purchasing or selling, provide any necessary guidance and support through what can be, a very stressful experience.

What do they do?

There is many things that a settlement agent does when looking after your property settlement.  They include but are not limited to:

  • Prepare all legal documentation to transfer the ownership of the property being sold or purchased
  • Conduct all necessary searches on your behalf to ensure legal ownership
  • Ensure there are no caveats registered on the title, if so obtain information about the encumbrance and how it will affect you
  • Make sure all debts are paid and necessary rates and tax adjustments are adjusted between the relevant parties
  • Liaise with financial institutions for mortgages to be registered and released where required
  • Co-ordinate settlement, prepare settlement calculations and ensure all parties to settlement are ready
  • Confirm settlement has been effected, check property ownership was transferred correctly

It is important to have an experienced settlement agent as even the most simple of property transactions can have issues that arise that need quick and decisive action to keep your settlement on track.

A settlement agent is not able to provide legal advice, however, our legal division Formbys Lawyers is on hand if the need arises during your property settlement.

Choosing the right settlement agent will provide peace of mind and ensure a smooth transaction.

Contact our office for a quote today.  Prompt Settlements the right choice in settlement agent.