Residential Selling Settlement Services

Ideally, you should engage a settlement agent as soon as you decide to sell your property, even before listing it. This allows us to review your title, identify any potential issues, and advise you on preparing for settlement. At the very latest, contact us when you receive an offer so we can review the contract before you sign it to protect your interests.

The mortgage discharge process typically takes 2-4 weeks from application to completion, depending on your financial institution. Some lenders process discharges faster than others. We recommend initiating the discharge process as soon as you accept an offer to avoid settlement delays. We'll guide you through the application process and follow up with your lender to ensure timely processing.

If a buyer requests a settlement extension, you're not obligated to agree unless specified in the contract. However, if you're flexible, we can negotiate terms that protect your interests, such as requiring the buyer to pay penalty interest or a portion of the purchase price as a deposit. If you're also purchasing another property, we'll coordinate with both settlements to minimize disruption to your plans.

No, you don't need to attend settlement in person. As your settlement agent, we attend on your behalf and handle all aspects of the settlement process. With e-conveyancing through PEXA, many settlements now occur electronically, eliminating the need for physical attendance altogether. We keep you fully informed throughout the process and notify you immediately once settlement has been completed.

At settlement, we calculate adjustments for prepaid expenses like council rates, water rates, land tax, and strata levies. You're responsible for these costs up to the settlement date, while the buyer is responsible from settlement onwards. If you've prepaid any of these expenses beyond the settlement date, you'll receive a credit from the buyer. Conversely, if you owe any amounts, these will be deducted from your settlement proceeds.

If the buyer identifies issues during the final inspection, we'll work with all parties to find a resolution. This might involve negotiating a financial adjustment at settlement, arranging for repairs to be completed, or providing undertakings to address issues after settlement. Our goal is to find practical solutions that allow settlement to proceed while protecting your interests and maintaining a positive relationship with the buyer.

Typically, you need to vacate the property and hand over keys on the settlement day, unless otherwise agreed in the contract. The property should be left in the condition specified in the contract, usually "in the same condition as at the date of sale, except for fair wear and tear." We recommend scheduling your move at least one day before settlement to avoid last-minute stress and potential delays.

With electronic settlements through PEXA, funds are typically disbursed on the same day as settlement, and you should receive your proceeds within 1-2 business days, depending on your bank's processing times. For traditional paper settlements, it may take 2-3 business days for funds to clear. We'll provide you with a detailed settlement statement showing exactly how your proceeds were calculated and disbursed.