Finalise settlement: keep every task moving

Ask your solicitor for a plain-English list of the dates and notices. Include deposit payments, conditions, document signing, funds, the pre-settlement inspection and settlement. The signed contract controls the timetable.

Put a responsible person beside each task. Your broker coordinates finance, inspectors provide reports and the solicitor handles legal notices and transfer work. Answer requests by the contract deadline.

Tell your advisers early about anything that could delay signatures or transfers.

Send the signed contract to your broker or lender promptly. Pre-approval does not guarantee finance. The lender may still assess the property, valuation, contract and changed circumstances before final approval.

ASIC Moneysmart’s buying-a-house guide says to tell the lender once you have found a property and apply to finalise the loan. Ask what remains outstanding, when documents will be issued, who needs to sign and when the lender must be ready to provide settlement funds.

Read and return the loan documents as directed. Ask your broker to confirm three milestones separately: formal approval, accepted loan documents and lender readiness for the booked settlement. If one is delayed, tell your solicitor immediately. We recommend raising a possible delay while there is still time to discuss options, rather than waiting for a missed deadline.

Book the inspections required by your contract and give reports to your solicitor before the deadline. Queensland guidance says the contract needs written inspection terms if you require a right to cancel following a poor report. Ask what your clause allows.

Work through title, disclosure, body corporate and other property searches recommended for the purchase. If an issue appears, ask for advice before negotiating a remedy or sending a notice. An agent’s reassurance does not amend the contract.

Ask your solicitor to confirm when each condition is resolved and keep that record.

Ask how much money you must provide and how to transfer it. Allow for your contribution, purchase adjustments, duty and professional costs. Verify payment instructions using a trusted phone number before moving money.

Ask about insurance as soon as the contract is signed, rather than leaving it with the final settlement tasks. Queensland Government guidance says responsibility commonly passes at 5pm on the next business day after the contract date. Your contract and property determine the actual risk and cover requirements, including any body corporate insurance. Confirm the start time with your solicitor and arrange suitable cover with your insurer and lender.

Record the cover start time, insured address and certificate your lender needs.

Arrange the pre-settlement inspection at the time your solicitor recommends. Queensland Government inspection guidance suggests inspecting two to three days before settlement to check that the property remains in the same condition as when the contract was signed and that specifically included items remain.

Take the contract inclusions and earlier photos. Check the home, fixtures and agreed repairs, and record differences.

Send concerns to your solicitor immediately. The available response depends on the contract and the issue; do not assume you can delay settlement, hold back money or demand a new repair without advice.

At settlement, the balance is paid and title and possession are transferred through the parties’ representatives. Keys are usually released after completion is confirmed. Ask your solicitor what registration evidence you will receive afterwards and check that the title details are correct. The detailed guides below cover each finance, contract, inspection, insurance and moving task.