This is the news Stage 1 purchasers have been waiting for! The Statement of Compliance (SOC) has been achieved, and titles are now officially registered, which means the path to settlement is even closer. While this has taken longer than we’d hope, we wanted to thank our purchasers for their continued patience, and we’re really pleased to be sharing this one with you all.
How we got here
In our August update, we walked you through the next steps in the process, which was the SOC. Now that’s been issued and titles are ready, here’s a brief overview of how far Stage 1 has come:
- Practical Completion: Complete, the civil works were built to standard earlier this year.
- Authority sign-offs: Complete, with the council, water authorities and Department of Transport and Planning approving the Stage 1 works.
- Statement of Compliance: Complete, this was the biggest hurdle, but now it’s been obtained everything else follows.
- Plan of Subdivision lodged with Land Use Victoria: Complete.
- Titles registered: Complete, this is the milestone we’ve just reached.
- Settlement dates set: Up next.
What happens next
To help prepare for settlement and keep things running smoothly, it might be worth:
- Getting in touch with your conveyancer and letting them know Stage 1 titles are registered.
- Contacting your lender or broker to make sure your finance approval is still current, as approvals can expire.
- Having a chat with your builder about what they’ll need from you to get started.
Looking ahead
We’ll continue to keep you updated every step of the way. In the meantime, visit the My Kala portal for the latest updates on your specific stage.