What does a settlement agent do?

A settlement representative arranges the transfer of legal ownership of a property from the seller to the buyer.

This includes:

  • arranging the transfer of the title;
  • liaising with banks to discharge or register a mortgage on the title;
  • notifying the local authorities of the change of ownership;
  • verify the identity of the parties; and
  • adjust the rates and taxes.

A settlement agent can be a conveyancer or lawyer. Both are qualified to complete settlements.

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