So, you’ve got the property! Congratulations! Break out the bubbles!
But there’s ONE MORE THING…
Where are the keys?
Receiving keys is most often the first thing purchasers want straight after settlement
There is, however, a process that must take place prior to getting the keys. In most circumstances the keys are collected from the real estate agent, however, there are a few protocols that need to happen before the agent can do anything.
- Settlement must be completed (unless other agreements have been made).
- The agent must receive the “order on the agent” from the vendor’s conveyancer. This is confirmation that settlement has, in fact, been completed.
- As the purchaser, we (the conveyancers) will ring you to confirm that settlement on your new home has been completed.
- You can then contact the agent to confirm that your keys are ready to be collected.
In any event, we recommend you change the locks on your new property as one of the first tasks of ownership. We mention this for your own piece of mind, as you can never be sure if the previous owners gave any spare keys to friends, neighbours or relatives.
Trap for young players! Did you know… there is nothing in the contract that says the vendor has possession of ALL keys to every lock to every window or door at the property. If, for example, the vendor only ever had one key to the property, then it would be sufficient for the vendor to hand over that one key at settlement to give you access to the property. Our tip? Check the available keys with the agent BEFORE you exchange contracts.
NOW you can break out the bubbles…