Moving in update from developer

The developer of Harbour Mill, Ceerose, sent me this update today:

Ceerose will send a notification out to purchasers in mid June of the status of the project and anticipated completion. This is around the time purchasers should start thinking about settlement and getting their finances as ready as they can be. By this time purchasers have usually organised finance with their bank, but if they haven't done anything to organise finance, they should really start locking something in soon. Banks typically take 2 to 3 weeks to get a matter ready for settlement. Some banks will require a site visit to do a valuation, some will do their due diligence without a site visit. The bank will require the purchaser to sign a loan offer (if not already signed) and mortgage documentation.

 

Completion of the building is expected in July 2015. This is around about the time an occupation certificate is issued for the building and the strata plan is registered.  In the mid June 2015 update, we will let purchasers know that the strata plan has been lodged for registration - assuming it is ready to lodge at that stage. The registration process usually takes a few weeks, but can take longer.

 

After the strata plan is registered and the occupation certificate is issued, Purchasers solicitors are notified.  Settlement occurs 2-3 weeks after this date.

 

The time period of 2 to 3 weeks is consistent with what it usually takes to get matters ready to settle for both sides.

 

After registration of the strata plan is notified to the purchasers solicitors, the parties solicitors will undertake the usual searches and pre-settlement preparations. In or about a few days before settlement the purchaser will arrange a final inspection of the unit.

 

Purchasers should enquire with their solicitors about settlement practices as each law practice will have a slightly different procedure for settlements.