PRDRE16A Monitor sales process - Unit descriptor

This unit covers the procedures involved in monitoring the lodgement of documents for the correct transfer of ownership required for a legal sale of property.

Element

Performance criteria

Plan for property settlement

1.1	Settlement requirements are identified and checked with relevant parties to minimise misunderstanding or breaches of contract
1.2	Settlement within the contract's legal framework is ensured by liaison with legal practitioners and other parties representing the vendor and buyer
1.3	Contingency plans are prepared in consultation with relevant legal agents to avoid the possibility of one or more parties to the transaction being unable to fulfil contractual obligations

Prepare documentation for agency disbursements

2.1	Settlement financial transactions are checked for accuracy against contractual documentation, and agency fees are calculated and safeguarded during disbursement activities
2.2	Authorised agency disbursements are obtained within contractual, agency and statutory requirements
2.3	Financial systems are updated to reflect authorised transactions
2.4	Agency fees are calculated and safeguarded during disbursement activities
2.5	Due and proper attention is paid to obtaining required authorisations, signatures and identifications prior to disbursement