Which of the following statements about the process of buying a property in Sydney according to the material covered in the lecture are TRUE:

1. Settlement occurs when you agree on a price with the seller of a property and pay a 10% deposit. Exchange of contracts occurs later and is when the remaining 90% is paid (including costs and any applicable stamp duty).
2. Making a final inspection of a property immediately before the settlement is an important step to make sure that the property is in the expected condition. If the property has been damaged by tenants, the buyer could ask for the settlement to be delayed until the seller repairs the damage.