It may sound overly simplistic or trite but effective communication is the only means of ensuring there are no preventable difficulties on settlement day. Hearing about issues and working out solutions early will undoubtedly mean settlement day will be less stressful. Even if settlement does not proceed as scheduled it will not be a surprise.

That communication starts with effective communication with clients. I appreciate not all clients are trainable, but those who are should be encouraged to contact you when they begin searching for a property to purchase.

(I will concentrate primarily on the purchase process not only because a sale must logically be preceded by a purchase but also because a sale is generally less complex. The comments applying to methods of sale will of course be part of a discussion with a client intending to sell and the section on disclosure later in this paper will also be important when advising vendors).
 

Content outline

• First contact
• Negotiation
• Contract
• Settlement process
• Contract - selected issues
  • Trustees and parties
  • Contract on foot
  • Performance and breach
  • Remedies after and/or independent of settlement