Hi there , we’re Property Settlement Solutions, welcome to the settlement updates page for OLEA Caulfied North!
We’re appointed by the developer to assist you in your settlement journey, from now, right up until you collect your keys. You can think of us as your settlement concierge; we’re here to help however we can and point you in the right direction with your enquiries.
You’ll hear from us a bit during your settlement journey, and this is where most updates will be posted – the settlement update page. On this page we’ll be sharing construction updates, photos, letting you know when valuations and Purchaser Inspections are available, as well as some helpful tips and advice to assist you with a smooth settlement.
Although we’re quite knowledgable about the settlement process, we aren’t trained legal professionals. We’ll leave that to your conveyancer. They will be able to look after questions about your contract of sale, stamp duty or other legal aspects of your settlement.
For your journey Carrie Sutherland will be your settlement co-ordinator. You can contact Carrie on 0493 072 953 or email to carrie@settlement-solutions.com.au
In the meantime, please feel free check out the frequently asked settlement questions or drop Carrie an email. We look forward to helping you out along your settlement journey at OLEA Caulfield North.
You can also share our blog with your family, friends & broker by using the icons below.
SETTLEMENT SNAPSHOT
VALUATIONS
Available now
PURCHASER INSPECTIONS
Available now
OCCUPANCY CERTIFICATE
Received
TITLES
Received
SETTLEMENT CALLED
Called
LATEST SETTLEMENT UPDATES
KEY COLLECTION
The collection of keys will be available at the following times:
Tuesday the 17th of May, 1 – 5pm
Wednesday the 18th of May, 4 -5pm
Thursday the 19th of May, 4- 5pm
After Thursday 19th May 2022, keys will be available for collection by appointment only.
OCCUPANCY CERTIFICATE RECEIVED
Good news, we have received occupancy certificate.
We have also received Statement of Compliance (SOC) from Council and our lawyer has lodge the plan to Land VIC.
Settlement is likely to be called in Early May depending on the timing of Titles being released.
PURCHASER INSPECTIONS COMMENCING SOON
We are please to advise that the first Pre-settlement (purchaser) inspections will be commencing soon. Apartments will be released for inspection by level starting from level 1. To assist with planning your inspection the builders have provided the dates that levels are expected to be released below:
- Levels 1 & 2 – Week of 7th of March
- Level 3 – Week of 14th March
- Level 4 & Ground Level – Week of 21st March
- Ground Level Townhouses – Week of 28th March
Please note, these dates are not locked in and are given as a guide only and are subject to change.
Once your apartment is released by the builder for inspection you will receive an invitation by email to book your inspection time. The email will cover how to make your appointment and what to expect during your appointment.
BANK VALUATIONS & TIMING UPDATE
We are pleased to advise you that your apartment will be ready for a bank valuation inspection from February 1st.
If you require finance to settle your apartment your lender may require a bank valuation inspection to be carried out in order to complete the loan application. If you do not need a bank valuation please let us know.
Valuers must contact Tom Hawkins on 0493 072 953 or email tom@settlement-solutions.com.au to make an appointment.
* Please note that these inspections are for bank valuers only.
It is important that your finance application is well underway if required in order to complete the process in time for your settlement. If you have not already started your finance process, you must contact your finance broker or lender immediately.
Purchaser inspections are now expected to begin in late February, dependent on the progress of the final stages of construction. We will be in touch once dates have been confirmed with an further instructions on how to make your appointment.
Settlement timing has also been updated, and settlement is now likely to be called Early/Mid April. It is important to note, the specific settlement date will not be available until both the Occupancy Certificate and Titles for the building have been issued. For more information about the settlement process please feel free to check out our Settlement FAQs
SETTLEMENT UPDATE | DECEMBER
The Team at Olea Caulfield North are please to announce that the building facade is now complete. Photo to the left.
At this stage, we would also like to recommend that all purchasers narrow down their finance options in preparation for settlement in February/March. Should you require a home loan, please begin your application ready for valuations, currently expected to begin in late January. We will be in touch in the New Year with further information about valuation and purchaser inspections and construction updates.
SETTLEMENT UPDATE | NOVEMBER
Unfortunately, despite the best efforts of the construction team, unavoidable issues related to COVID restrictions and sub-contractor resources on-site have and will affect the settlement timing for Olea Residences.
The builder currently expects that Valuation appointments and Pre-settlement inspections will be available in January/February 2022 with settlement expected to follow in February/March 2022. Please note; these dates are the current anticipated projections only.
We will continue to update this blog with any changes to settlement timing once available. Please feel free to contact Tom if you have any questions or concerns about your settlement or the above changes to settlement timing.
CONSTRUCTION UPDATE | OCTOBER
See below the October construction update for Olea Residences from on the Balmain & Co website:
Construction at Olea continues to bring the building to life. External rendering on the façade is complete and as a result the Mondoclad installation on the West Façade has begun, along with the façade tiling and feature cladding. Internally, timber flooring and carpet installation has commenced, whilst the stone installation and painting to progress. The dismantle of the materials hoist and scaffolding will continue throughout November, along with the works associated with the concrete stairs on the ground floor and the commencement of the pod and paver installation on the apartment balconies.
To see the full update please visit: https://balmainandco.com.au/news/olea-residences-october-2021
SETTLEMENT UPDATE | OCTOBER
Construction on site has now resumed after the construction industry’s 2-week pause by instruction from the government due to COVID-19. Despite this delay, and the re-introduction of the 25% worker limit, it is not expected that the anticipated settlement timing will be affected. However, should there be any changes or updates we will continue to include this information on this blog.
We will be in touch in the coming weeks with further information about construction progress once available.
SETTLEMENT & CONSTRUCTION UPDATE | AUGUST
Last month, along with the state-wide lockdown, the Victorian government introduced new restrictions capping the workforce on any building site at 25% of the workers usually on the site. Unfortunately, despite the best efforts of the developer and builders at Olea Residences, the restrictions put in place will affect the completion of the building and have push back the anticipated settlement to January 2022.
The good news is the builders have managed a great deal of progress onsite despite their smaller workforce.
Externally, the building’s structure and roof have now been completed.
In the apartments, windows, balcony sliding doors and plasterboards have all now been installed. The builders have begun works on painting and installation of flooring, both tiles and floorboards. Kitchen cabinetry has also been delivered to the site and installation will commence shortly.
CONSTRUCTION UPDATE | JULY
Construction continues onsite as The building’s structure and roof have been completed. The Builder has now commenced installation of plasterboard, windows and building exterior wall. Installation of building services and lift are currently under progress. Kitchen cabinets and cupboards have been ordered and will arrived on site for installation.
CONSTRUCTION UPDATE | JUNE
Construction at Olea remains on schedule as the structure is now well and truly out of the ground.
The building structure is now complete with roofing near completion. Installation of partition walls in the building has commenced along with with services installation currently, which is currently under progress. Windows and Building exterior walls are due to begin installation in the coming weeks.
CONSTRUCTION UPDATE | MAY
The building structure has continues to progress well as concrete pours have advanced from the basement to level 3.
The installation of precast and the wall framing system on ground floor through to level 2 have commenced. Services installation in the basement has also begun and will continue into next month along with the structure as it progresses towards top-out.
CONSTRUCTION UPDATE | QUARTER 1 2021
Basement works continue at Olea Caulfield North as basement excavation has now been completed. Below ground works, including civil works and basement waterproofing, are being completed along with the installation of the tower crane.
With the tower crane now operational, works on the structure components of the building can begin. It is anticipated building structure will come above ground by end of this month.
SETTLEMENT JOURNEY STAGES
CONSIDER FINANCE OPTIONS
At about 3-4 months before settlement you should start to narrow down what financial options you have to settle.
Will you settle by cash, get a home loan, or maybe a combination?
Should you choose to finance with a loan, we recommend you appoint a broker to assist you with your applications.
VALUATIONS
BEGIN
We'll let you know once your apartment is ready bank valuations will be available, usually there are required as part of your loan application.
For purchasers bringing money into Australia, make sure you have set up an Australian bank account and begin transferring your money.
PURCHASER INSPECTIONS
At this point construction on your new home is almost complete. We will send you an invite to conduct your pre-settlement inspection.
Any defects picked up in your inspection, will be noted and passed to the builder to begin addressing.
PRE-SETTLEMENT PERIOD
Once your inspection is complete the next stage is to wait for the Occupancy Permit and Titles to be issued so settlement can be called.
Your finance, either cash transfer or Bank loan, should be finalised and ready for settlement.
During this time the builder will continue to address any defects where possible.
SETTLEMENT
DAY
Once settlement is called your conveyancer will assist you in preparing for your settlement.
Make sure your loan has been finalised and your cash is ready.
Once your settlement is complete the keys to your new home will be available to collect.
POST
SETTLEMENT
Your settlement has been finalised.
We'll pass on details of the move in process and helpful information so you can get ready for your new home.
Your dedicated Owners corporation/ building manager will now be your point of contact & assist you with settling in to your new home.
SETTLEMENT RESOURCES
YOUR SETTLEMENT CO-ORDINATOR
CARRIE SUTHERLAND
Settlement Coordinator
carrie@settlement-solutions.com.au
0493 072 953
Proudly presented by
COPYRIGHT PROPERTY SETTLEMENT SOLUTIONS 2022
ALL RIGHTS RESERVED
WWW.SETTLEMENT-SOLUTIONS.COM.AU
