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Where does settlement take place?

The usual rule is that settlement follows the title. This means that settlement takes place where the vendor's title is located. This is usually at the vendor’s bank or other lender. In many cases, the lender requires settlement at their main office (usually in Melbourne). This sometimes means that you will need to provide the cheques required for a purchase settlement one or two days before settlement so that they can be forwarded to a settlement agent.

If the vendor does not have a mortgage, it is customary for settlement to take place at the office of the vendor’s conveyancer.

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