All Topics / The Treasure Chest / Settlement – what do i get?

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  • Profile photo of fulloutfullout
    Member
    @fullout
    Join Date: 2003
    Post Count: 233

    my first IP just settled yesterday.
    BUt its like,,,.”hey, what do i get? no keys, no docs?”
    Dont i get to receive the title, the this and that? Or is all that ownership details & proof in some government computer somewhere in the ether.

    Profile photo of hwd007hwd007
    Member
    @hwd007
    Join Date: 2002
    Post Count: 247

    hmm? your solicitor shoould send you some stuff but they keep some stuff for you in their files. It may take a few weeks before you get all the relevant docs. Not sure about title they may keep it on file.

    Profile photo of wilandelwilandel
    Member
    @wilandel
    Join Date: 2003
    Post Count: 761

    Hey Fullout,

    Congrat’s on your first I.P.[8D]

    If your IP is a long distance away, you probably won’t get any keys, unless you specifically request a copy from the RE letting agent.

    Assuming you have a loan for this, the title will be held by the bank that has mortgage over the property. You won’t get it until loan is paid off.

    All you really get is a big fat loan to start repaying[xx(][xx(][xx(].

    Your solicitor will send you the settlement
    break-up a week or so after settlement.

    Pre-settlement is such a big build up, and then, usually such a let down when it actually happens[:(]
    A little bit like sex for the first time!!!![:I][:I]

    Del

    Profile photo of The DIY Dog WashThe DIY Dog Wash
    Member
    @the-diy-dog-wash
    Join Date: 2003
    Post Count: 696

    Good on ya Del[:D][:D]

    Read, learn, grow but most of all just do it.

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