Seller's guide
How settlement works
Settlement is the day your sale completes: the buyer pays, ownership transfers, the keys change hands. In NSW it's usually 42 days after exchange, but that timeframe is negotiable, and choosing it well matters more than most sellers realise.
Selling first or buying first
Sell first and you might need somewhere to live in between. Buy first and you might carry two mortgages. Most selling stress is really this problem in disguise.
Exchange
Contracts signed and swapped, deposit paid. The deal becomes binding.
The in-between
Conveyancers sort title, mortgage discharge and adjustments. Have your side ready early.
Settlement day
Money moves, title transfers, keys change hands. Done.
Frequently asked questions
When do I actually get the money?
At settlement. Your conveyancer receives the funds, pays out your mortgage and costs, and transfers you the balance, usually the same day.
Can I choose a longer settlement?
Yes. The period is negotiated at contract time, so decide what suits your life before you list, not after you've sold.
What if the buyer can't settle on time?
Your conveyancer can issue a notice to complete, which typically allows 14 more days and can add penalty interest. Have your side ready early.
A timeline you choose is coming
Real Easy is being built so the settlement date gets decided by you, not defaulted.