June 28, 2016 by Rebecca Crommelin
When purchasing a new property, it can sometimes be confusing knowing when you are able to pick up your new set of keys and move into your new home.
If you are buying a property from vendors who currently live in the property, then legally, they have until 12 noon the day following settlement to hand over the house keys. Although, typically many vendors have already vacated the property before settlement and are willing to hand over the keys following settlement.
For instances where the property is tenanted or vacant, the keys must be handed over directly after settlement takes place. We always recommend to our clients that, prior to settlement, they discuss with their real estate or settlement agent when they can expect the keys. This will ensure there are no surprises and you can make any necessary arrangements for moving around this time.
It's worth noting that typically, the keys are handed over by the real estate agent as soon as settlement is completed.
If you have any further questions in regards to settlement or your home loan, don't hesitate to give us a call on (08) 9485 0090 at Mortgage Choice Joondalup & Clarkson
Dennis Aplin, Your Local Mortgage Broker
dennis.aplin@mortgagechoice.com.au
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