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July 19, 2026 - 08:27 AM cityscape - christinmurch925@yahoo.com The final phase, settlement, involves transferring ownership and ensuring all financial obligations are met. This process is coordinated via PEXA, Australia’s electronic property exchange platform. "Settlement is crunch time," she says. Property transactions often uncover hidden challenges. Illegal Structures: Unapproved extensions or additions can cause significant headaches. It’s not always a deal-breaker, but buyers need to know what they’re taking on. Easements and Zoning Issues: Buyers should be aware of restrictions that may affect future plans, such as adding a pool or granny flat. Outstanding Debts or Caveats: Sellers must ensure clear title transfer by addressing all financial obligations tied to the property. For buyers and sellers, having a knowledgeable conveyancer who can identify and negotiate solutions to these issues is critical. Representing Buyers vs. Sellers: What’s the Difference? While the core responsibilities remain similar, the focus shifts depending on whether the conveyancer is representing the buyer or seller. For sellers, the process involves compiling a comprehensive list of disclosures, including any modifications to the property, debts, or outstanding permits. IP : 72.37.216.68 |