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Settlement
Settlement is the last step in the home buying process. Settlement is where the seller receives the funds from the buyer and the buyer acquires title to prime residential real estate, then the banker holds the title and the challenge of mortgage repayments become a monthly reality!

While everyone does their very best to meet the settlement date, it is important to remember that many things can crop up to delay the settlement and delays are commonplace.

Settlement delays are often caused by titles being misplaced, bank valuations being too low, pre settlement inspections not being approved or financial or personal difficulty.

Fees associated with settlement include:
  • Mortgage insurance
  • Bank fees
  • Establishment fees
  • Valuation fee
  • Insurance
  • Title registration
  • Solicitor/conveyancer
  • Stamp duty

Pre-settlement inspections
Whether you have purchased a new home fresh from the builder or you are buying a house that someone else called home one rule always applies: make a final inspecation before you settle. Examine the house closely with the contract to make sure any contingencies the seller agreed to have been met. If you are buying from a builder, check if the builder has made any changes since your last meeting. Don't be shy about asking questions during the final walk through.



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"Thank you for making the sale of father's estate properties so easy at such a difficult time."
 
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