The Settlement Guide
What happens between signing and getting the keys — timelines, documents, funds flow and how to avoid delays.
Settlement is the day the property legally becomes yours (or leaves your name). This guide walks you day-by-day through the SA settlement process so nothing surprises you.
1. What actually happens at settlement
Settlement is a coordinated transfer: your conveyancer, the seller's conveyancer, and the lenders on both sides simultaneously exchange the balance of purchase price, the transfer document, and the discharge of the seller's mortgage. In SA this happens electronically via PEXA in most cases.
2. Timeline: contract signed to keys
- Day 0 — Contract signed by both parties.
- Day 1–2 — Cooling off (private treaty only, 2 clear business days).
- Day 3–7 — Building & pest inspection, finance formal approval.
- Day 7–14 — Deposit paid, conveyancer starts searches.
- Day 14–45 — Certificate searches, council/water, encumbrances checked.
- Day 25–55 — Final loan documents signed, PEXA workspace prepared.
- Day 30–60 — Pre-settlement inspection (48 hours before).
- Settlement day — Funds exchange, keys released, title transfers.
3. Your conveyancer's job
- Review the Form 1 (Vendor's Statement) for encumbrances, notices, and irregularities.
- Order all statutory searches.
- Adjust rates, water and land tax at settlement.
- Prepare and sign the Transfer.
- Coordinate with your lender and settle in PEXA.
4. Pre-settlement inspection — what to check
- Property is in the same condition as when you signed the contract.
- All inclusions (dishwasher, blinds, air-con remotes) are present and working.
- No new damage, and no property has been removed.
- Utilities can be turned on (test taps, lights, appliances).
If something's wrong, tell your conveyancer immediately — before settlement. Post-settlement, remedies are limited.
5. Costs on settlement day
You'll typically need cleared funds for: balance of purchase price, stamp duty (unless first home exempt), transfer registration, mortgage registration, adjustments for rates and water, and your conveyancer's fee. See our Stamp Duty Calculator.
6. What can delay settlement
- Bank valuation coming in low (renegotiate or top up).
- Discharge authority not lodged by seller's bank.
- Missing information on the Form 1 (notice periods restart).
- PEXA workspace not fully signed off by all parties.
7. After settlement
Update your address with your bank, employer, Medicare, licence, insurance, super, electoral roll. Move utilities. Meet the neighbours. Take photos of every meter reading on move-in day.