Browse Forums Building A New House 1 Apr 28, 2009 11:11 pm I have a few questions regarding settlement that I need help with. DH received a call from our conveyance yesterday to inform that the settlement had been done and the land had been transferred to us. The conveyancer however has not sent us anything (they have been pretty slack throughout). Also we do not know how much the stamp duties were as the amount was not included in our cheque. Could anyone please advise how the settlement process works? Should the conveyancer send us some information / copies of papers / title etc? Who pays the stamp duty and when ? PS tried a search but didnt get any releant results Land Settled 27/04/09. Site Started 30/4/09. Slab poured 21/5/09. Frame up 27/5/09. Building thread : viewtopic.php?f=31&t=15699 Re: Question about the settlement process ?? 2Apr 29, 2009 2:32 am hi jessica You should write to your conveyancer as follows: Could you advise that settlement took place as scheduled on ??? Please advise a break down of the settlement disbursements that I have incurred and the total stamp duty to be paid on this purchase. They don't give you a copy of title, you would have to wait a day or two for the titles office to actually process the change. You can do a search yourself of your new Certificate of Title on Landvic's website (# $15). This would show you as the current owners. The actual title would now be in "your" finance/bank's safe. The conveyancer will no doubt send you a letter in due course, unless you have already paid them, which you probably have. You should have received a list of what cheques were required for settlement as your conveyancer would have asked you to raise some in anticipation of settlement. I hope that helps, Annie A thankful person is a happy person. [/color]My hobby design blog: http://aviewondesign.blogspot.com/ Re: Question about the settlement process ?? 3Apr 29, 2009 10:30 pm Annietom hi jessica You should write to your conveyancer as follows: Could you advise that settlement took place as scheduled on ??? Please advise a break down of the settlement disbursements that I have incurred and the total stamp duty to be paid on this purchase. They don't give you a copy of title, you would have to wait a day or two for the titles office to actually process the change. You can do a search yourself of your new Certificate of Title on Landvic's website (# $15). This would show you as the current owners. The actual title would now be in "your" finance/bank's safe. The conveyancer will no doubt send you a letter in due course, unless you have already paid them, which you probably have. You should have received a list of what cheques were required for settlement as your conveyancer would have asked you to raise some in anticipation of settlement. I hope that helps, Annie Thanks Annie. I will send an email to our conveyancer. She did send us a breakup of costs but stamp duty wasnt included. You are also right in assuming she has been paid. Our CSO has apparently reecived confirmation of land settled. Will have to get a copy from her if the conveyancer doesnt respond. Thanks once again. Land Settled 27/04/09. Site Started 30/4/09. Slab poured 21/5/09. Frame up 27/5/09. Building thread : viewtopic.php?f=31&t=15699 Re: Question about the settlement process ?? 4Apr 29, 2009 10:41 pm Once the settlement occurs, generally you will need to make a cheque out to the developer, the solicitors for their fees and any extra searches and also the Office of State Revenue for the land Stamp duty on that same day. Once settlement has completed, the registered plan will then pass to the Titles office where the land will be placed in your name. One other thing to remember is once the land settlement has occured you will be paying rates on the land from that day forward. Built 36sq Plantation "Retreat" on 4460m2 at Spring Mountain, Qld In Living and landscaping.. >>> ... http://retreatspring.blogspot.com Re: Question about the settlement process ?? 5Apr 29, 2009 10:46 pm hi jessica, as you are first home buyers and plan to build your first house on the land you have purchased did you sign a claim form for the transfer stamp duty? in qld you can claim the transfer duty if you plan ato build a house within 2 years of the land purchase, i am unsure of what the laws in vic are though mortgage stamp duty has been abolished in vic for quite a while now though, so only transfer duty would apply if anything... 2014 - Prepping to build the Soho 4 with Plantation homes, industrial style 2009 - Built the Brampton with Coral Homes viewtopic.php?f=31&t=15399&start=280 Re: Question about the settlement process ?? 6Apr 30, 2009 10:26 am Thanks Ozzroo... We have paid the developer and conveyancer .. but nothing regarding the stamp duty. Thanks for the reminder regarding rates .. one more thing to check Thanks Jess no idea regarding VIC ... cant recall having signed anything ... will find out. BTW havent caught up on your thread for a while ... will do tonight Land Settled 27/04/09. Site Started 30/4/09. Slab poured 21/5/09. Frame up 27/5/09. Building thread : viewtopic.php?f=31&t=15699 Re: Question about the settlement process ?? 7Apr 30, 2009 12:15 pm We had the same questions when our land settled. The title never came to us we had to ask the bank for a copy. also with stamp duty you can work it out on line at http://www.sro.vic.gov.au/sro/SROWebSit ... lators.htm this comes staight of your account. But if you are buying land this calculator does not include other charges such as land transfer fees this is a separate fee and usually comes out of your account automatically about 1-3 months after settlement. Re: Question about the settlement process ?? 8Apr 30, 2009 1:33 pm jessica Thanks Ozzroo... We have paid the developer and conveyancer .. but nothing regarding the stamp duty. Thanks for the reminder regarding rates .. one more thing to check Thanks Jess no idea regarding VIC ... cant recall having signed anything ... will find out. BTW havent caught up on your thread for a while ... will do tonight hey jessica, not much happening in my thread at the moment just waiting for my tender letter (hopefully a correct one ) to sign this weekend - then coral will order the contract and i can do some colour selections! yay! 2014 - Prepping to build the Soho 4 with Plantation homes, industrial style 2009 - Built the Brampton with Coral Homes viewtopic.php?f=31&t=15399&start=280 I apologise for any confusion, but your understanding is correct. We approached our situation differently based on advice from… 11 53212 Thanks very much! And would the landscaper/contractor generally involve the engineer or is that something the client would do? Thanks for your help 2 10026 The most definitive answer to your question James is this taken from the James Hardie Axon Cladding Installation Guide - i just happen to have it… 5 3669 |