What to Do After Your Canterbury Property Goes Unconditional

Going unconditional means your sale is binding - both parties are committed and neither can walk away without serious legal and financial consequences. But there is still a list of important tasks to complete before settlement day. Here is your vendor checklist.

Notify Your Bank

Contact your bank or mortgage broker to confirm that settlement is proceeding and to begin the mortgage discharge process. Your bank needs advance notice to prepare the discharge documentation and release funds. Standard mortgage discharge takes five to ten working days. If your mortgage is with a bank that has complex documentation requirements (ANZ, Westpac, and SBS sometimes require additional steps), allow more time. Your solicitor will also be in contact with your bank, but being proactive avoids delays.

Maintain Insurance

Keep your house insurance in place until settlement day. Under the standard sale and purchase agreement, you are obligated to maintain insurance. Notify your insurer of the settlement date so they can arrange cancellation from that date and refund any prepaid premium. Do not cancel early - you remain the property owner until settlement and any damage occurring before that point is your risk.

Maintain the Property in Its Current Condition

You cannot remove fixtures, take chattels that were listed as included, or allow the property to deteriorate after going unconditional. The buyer is entitled to receive the property in the same condition as at the date of the agreement. This means no removing the heat pump because you want it for your new home (if it was listed as a chattel), no stripping the garden, and no allowing maintenance to lapse.

Prepare Your Chattels

Review the chattels schedule in your agreement and confirm every item listed is present and in working order. Test all operational chattels - heat pump, dishwasher, stove, garage door opener, security system. If anything is not working that should be, address it before the pre-settlement inspection rather than hoping the buyer does not notice.

Plan Your Move

Book removalists as soon as you have a confirmed settlement date. Good Christchurch removalists book out quickly. Arrange storage if needed. Transfer utilities (electricity, gas, broadband, water) to be cancelled or transferred from your settlement date. Redirect your mail. Confirm your onward accommodation or purchase settlement is coordinated with your sale settlement date.

For general information only. Always follow your solicitor's specific advice for your transaction.