BUYING


What happens on settlement day?


Typically: The lender authorises payment of the loan, and payment is made to the vendor; You (or your solicitor) authorise the vendor to collect the deposit money that has been held by the real estate agent, in trust; You receive a signed transfer of title deed and your solicitor or bank will arrange for the Registrar General to register the transfer and the loan; You pay the stamp duty on the home loan; You are given the keys and the house is yours!

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