News
Kinbrook Testimonial Here's Why You Should Consider Townhome Living Kinbrook Spring Newsletter English Street and Donnybrook Road Roadworks Update First home owner finds the perfect fit Our sales office is now open by appointment only. Winter Newsletter June 2020 $25,000 Stimulus Packages to be Available with New Home Builds Vikki Anderson Staying on Track in a COVID-19 Climate Autumn Newsletter March 2020 Why Kinbrook? Summer Newsletter December 2019 You heard it here first - Santa Claus is coming to town! New park officially opened at Kinbrook First Home Buyer Grants and Offers Can Make the Difference Spring Newsletter October 2019 Time to Explore Townhome Living at Kinbrook Winter Newsletter July 2019 Construction has commenced at Donnybrook Station! Streamline Your Move to Donnybrook: 6 Tips For a Stress-less Moving Day First Time Buyers Embrace Opportunity at Kinbrook Kinbrook Park Comes to Life - From Start to Finish What happens on Settlement Day? Welcome to the first edition of our community newsletter. The Moremac Edge First residents moving into Kinbrook! Saving Tips for First Home Buyers Make That Commute Accountable Kinbrook park design revealed Train Station Upgrades For Donnybrook And Wallan Kinbrook Stage 1 titles received Optical Fibre now ready at Kinbrook Stage One Progress Update Sell Out Success - Weymouth Release 1 Construction Progressing at Kinbrook Sell Out Success - Somerton Release Doors open to entry buyers About the Developer

What happens on Settlement Day?

An important milestone along the new home journey is the 'settlement' of your land. This is when you officially take legal possession of your block, it is titled in your name, and you have permission to start building. Just like other stages in the buying and building process, the more informed you are about the steps ahead, the better you can prepare and feel confident about your decisions.


How do I find out when settlement is?

Your contract of sale, from when you purchased the block, will have the details of your planned settlement date. The Moremac Kinbrook legal adviser will contact your nominated legal adviser (conveyancer or solicitor) when settlement is scheduled.


Who needs to attend settlement?

The settlement process is conducted between the two legal teams. Prior to settlement, these two teams will have communicated via the Property Exchange Australia website. Buyers are informed once all documentation has been processed and approved. You won't need to attend a physical appointment.


What do I need to prepare?

Most importantly, purchasers need to make sure they are ready to settle on their land, to avoid delays which can incur penalty interest. This means confirming finance has been formally arranged and submitted to your legal adviser a minimum of 10 days before the planned settlement date. It's also a good idea to conduct an inspection of your block from the street prior to settlement, to check that it has been cleared of any debris or rubbish.


What does my legal team co-ordinate?

Once your legal adviser has been informed of your settlement date, they will communicate to all involved parties, such as your bank or lending institution, and provide them with title information for the mortgage documentation. They will also prepare the land transfer information to submit to the Kinbrook legal team, and provide details on any additional fees such as stamp duty or transfer costs. Your legal representative will also request you to sign the State Revenue Office duties form and verify that stamp duties owing are accurate.


What funds are required at settlement?

If you are providing settlement funds, these are drawn from your legal representative's trust account along with any incoming mortgages and sent to the Reserve Bank of Australia to transfer to the property vendor. The process of settling and disbursing funds can take minutes or a few hours depending on the complexity of finance arrangement.


Do I need to arrange anything with my builder?

The Kinbrook team will be updating their builder network on a monthly basis to inform them of the upcoming settlement date, so that you can discuss locking in your site start and be on your way with your new home.


The new home journey can be exciting and daunting at the same time! Your Kinbrook sales team is always available to provide information and updates along the way. Whether it's news about your purchased block of land, or keeping you up-to-date with events and new amenity in your new community, the team is your go-to for all information.

Interior Design Trends of 2021
READ MORE
Benefits of Buying A Home In a New Community (Part 2)
READ MORE

register your interest

Register your interest today to receive the latest Kinbrook news.
Enter your details below.