The Sale Is Just the Beginning
Seeing the sold sticker go up is a big moment. But while the negotiations are over, the process is not. Settlement is the final stage of your sale, and it comes with its own set of deadlines, documents, and moving parts.
Here's what every seller should know once the contract is signed, and how to navigate the weeks between acceptance and settlement day with confidence.
1. Understand Your Settlement Timeline
The standard settlement period in Australia is typically 30 to 90 days, depending on what has been agreed in the contract. During this time, both parties work through their legal, financial, and logistical steps to finalise the transfer of ownership.
Your conveyancer or solicitor will guide you through the legal paperwork, while your agent will help keep things moving toward the agreed date.
Tip: Confirm your key dates with all parties, including your agent, conveyancer, and bank, to avoid last-minute delays.
2. Finalise Utilities, Insurance, and Council Obligations
Once the property changes hands, you are no longer responsible for rates, water, and insurance. However, it is up to you to notify the relevant providers before settlement day.
Make sure you:
- Cancel or transfer your electricity, water, internet, and gas
- Contact your local council to notify them of the sale
- Keep your home and contents insurance active until settlement is complete
Tip: Do not cancel your insurance too early. Maintain coverage right up until the buyer takes legal ownership.
3. Prepare for the Final Inspection
The buyer is entitled to a final inspection, usually within the week before settlement. This is their chance to ensure the property is in the same condition as when it was sold.
Make sure:
- All agreed inclusions such as appliances or fittings are still in place
- Repairs outlined in the contract have been completed
- The home is clean, secure, and free from any new damage
Tip: Treat the final inspection like a handover. A clean, respectful presentation reflects well on the sale and helps avoid disputes.
4. Plan Your Exit with Time to Spare
Moving out takes longer than most people expect. Start early to avoid the stress of a last-minute pack-up or rushed handover.
If you are buying and selling at the same time, your agent and conveyancer can help coordinate dates to ensure a smoother transition.
Tip: If you need extra time post-settlement, talk to your agent early. It may be possible to negotiate a short-term rent-back agreement.
Settlement Day and Beyond
Once settlement is complete, the keys are handed over and the property officially changes ownership. Your agent will finalise the transfer and assist with any final documents or handovers.
From there, it is time to move on, whether that means settling into your new home, banking the proceeds, or looking ahead to your next chapter.
Selling your home is a major milestone, and understanding what comes next ensures the experience ends on a high note.