Buying your first home is exciting—but it can also feel overwhelming. At W & G Lawyers, we understand how important this milestone is and we’re here to help you navigate it with confidence. This article explains what happens on settlement day and how you can prepare to make the process as smooth as possible.
📅 What Is Settlement Day?
Settlement day is the legal process where ownership of the property officially transfers from the seller to you. While most of the work is handled by your conveyancer or solicitor, it’s helpful to know what’s involved.
On settlement day:
- ✅ Your lender pays the remaining balance of the purchase price
- ✅ You pay any stamp duty and registration fees
- ✅ The seller provides the title documents
- ✅ Your name is registered on the property title
- ✅ You receive the keys to your new home 🔑
There’s no need to attend in person—your lawyer will take care of the legal arrangements on your behalf.
⏳ How Long Does the Settlement Process Take?
The settlement period usually lasts between 30 and 90 days from the date the contract is signed. During this time, your lawyer will work with your lender, the seller’s legal team, and the Land Titles Office to ensure everything is in order for settlement day.
📝 How to Prepare for Settlement Day – A Practical Checklist
While your solicitor or conveyancer will handle the legal formalities, being personally prepared can prevent delays and ensure a smooth handover of your new property. Here’s a practical checklist to guide you:
1. Schedule a Pre-Settlement Inspection
Book your final inspection 1–2 days before settlement. This is your opportunity to confirm that the property is in the same condition as when the contract was signed and that any agreed repairs have been completed.
2. Arrange Building and Contents Insurance
Protect your investment by ensuring the property is insured from the date the contract becomes unconditional (not just from settlement day). Some lenders even require this as a condition of loan approval.
3. Confirm Loan and Financial Readiness
Liaise with your mortgage broker or bank to confirm that all loan documents are signed and that funds are ready for disbursement. This ensures there are no last-minute financing issues.
4. Verify Utility and Service Connections
Organise for utilities—such as electricity, gas, water, and internet—to be connected as of your settlement date. This helps avoid disruption once you move in.
5. Maintain Communication with Your Legal Team
Stay in touch with your lawyer or conveyancer. They will keep you informed of any changes and notify you immediately once settlement has been successfully completed.
🚛 Can You Move In on Settlement Day?
Generally, yes! As soon as settlement is complete, your lawyer will notify the real estate agent to release the keys to you.
⚠️ Important Tip: Do not book removalists or moving trucks until your lawyer confirms that settlement has occurred. Unexpected delays can sometimes arise.
🔗 Learn More from Reputable Sources
To better understand the settlement process, explore these official resources:
📞 Need Help With Your Property Settlement?
At W & G Lawyers, we provide tailored legal support for first home buyers, including contract review, conveyancing, and settlement services. Whether you’re buying in Brisbane, Logan, or across Queensland, we’re here to protect your interests and give you peace of mind.
👉 Contact W & G Lawyers Today to book your consultation.
Disclaimer
TThe information contained in this article is provided for general informational purposes only and does not constitute legal advice, nor is it intended to be a substitute for legal advice specific to your circumstances. While every effort has been made to ensure the accuracy of the content at the time of publication, laws and procedures may change over time. You should not act or rely on any information in this article without first seeking legal advice from a qualified solicitor.
If you require legal assistance with property settlement, conveyancing, or any related matter, we encourage you to contact W & G Lawyers directly for personalised advice tailored to your situation.