Understanding 'Settlement'

Once your offer has been accepted, there will be an interim period of time between the date of formal acceptance and settlement. Settlement is the time where legal ownership is transferred. It may involve the seller's bank releasing mortgages and your bank placing a mortgage over the property. If the buyer or seller owns the property outright mortgages may not be required, your solicitor or conveyancing company will look after these details for you.

Your RE/MAX Sales Associate can help you during every step of the buying process.