Key Procedure

Purpose

Once a property has been sold and it becomes unconditional the keys for the property must be held at the selling agent’s office.

To ensure this happens when Accounts processes the file a task will be added to the group of tasks to follow up the key by Client Services.

Procedure

21 days after the sale of the property (and check that it is unconditional) the key is located by client services and then a note is made under the property.  If it is a 30 day settlement the procedure will be done at 14 days.

7 days prior to settlement phone the Vendor to ensure all the keys have or will be returned before the property settles.  Also contact the purchaser to advise them which office they need to pick the key up from.  The keys will automatically be at the selling agent’s office for the purchaser to collect unless otherwise requested by the client.

In the property file record details of when the keys will be returned by the vendor and which office the purchaser will collect the keys from.