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What is a settlement?

By on in Buying, Selling

It’s not a silly question. We’re often asked “what is a settlement?“. Settlement Settlement is the process by which a contract to buy and sell real estate is completed.  At settlement, legal title to the property is transferred from seller to buyer in exchange for the balance of the purchase price. Settlement is also the name […]

Five things to do before your purchase settlement date

By on in Buying

Arrange for the seller’s real estate agent to give you the house keys immediately after the settlement is complete. If the property is the seller’s principal place of residence, the seller may stay in possession until noon on the day following settlement. Ensure the property is adequately insured from date of possession or settlement, whichever is […]