In WA, before releasing your final payment to La Vida Homes, your bank will require your signed final invoice and a copy of your Certificate of Currency (home and contents insurance). Once they receive that, your bank will need to have a valuation completed. This is normally undertaken by an independent third party at Practical Completion – when the house is fit for occupation, but just before you receive your keys.
In SA, before releasing your final payment to La Vida Homes, your bank will require your signed final invoice, a copy of your Certificate of Currency (home and contents insurance), and the Occupancy Permit (and/or) the Statement of Compliance. Once they receive that, your bank will need to have a valuation completed. This is normally undertaken by an independent third party at Practical Completion – when the house is fit for occupation, but just before you receive your keys.
Once that’s all wrapped up, your bank will need a full 10 working days to process the final payment. So, to avoid any potential delays with your handover (and getting those hot little keys in your hand!), please authorise your final payment and send you Certificate of Currency to your bank as soon as you can.