The settlement date is agreed in the contract, and most of what protects you is decided in the days after you sign, not the week before you get keys. This checklist starts at the contract for that reason.
The day you sign the contract
1
Insure the property from the date risk passes to you under your contract. In some states that is very soon after signing — Queensland says responsibility commonly passes at 5 pm on the next business day after the contract date (
Queensland Government). Ask your conveyancer for the date and arrange cover before it.
2
Write down every contractual deadline: finance approval, building and pest, cooling-off, and the settlement date itself. These run from the contract, not from a generic countdown.
3
Confirm with your lender what is needed for unconditional approval and when, against the finance date in the contract.
4
Ask your conveyancer whether you are eligible for a grant or duty concession. Eligibility depends on the scheme, your circumstances and the type of property — NSW’s First Home Owner Grant, for example, is not available for an ordinary established home (
Revenue NSW).
INSURANCE IS THE HIGH-STAKES ONE
If the property is damaged between contract and settlement and risk has passed to you, you may still be obliged to settle. Do not leave insurance to the last fortnight. Confirm the risk date with your conveyancer and insure from it.
Two weeks before settlement
1
Confirm finance is unconditional in writing and that loan documents are signed and returned.
2
Confirm the settlement figures with your conveyancer, including adjustments for rates, water and any strata levies.
3
Have the shortfall in the right account and cleared. Transfer limits and clearing times are a common cause of a late settlement.
4
Confirm any grant or concession lodgement is in progress.
5
Check internet availability and contact your provider as early as possible, ideally more than four weeks before moving. Confirm installation requirements and your preferred activation date.
The week of settlement
1
Book the pre-settlement inspection for as close to settlement as the contract allows.
2
At the inspection: test every appliance included in the sale, run taps, flush toilets, check the hot water, and confirm nothing has been removed that was in the contract.
3
Photograph anything that is not as it was when you bought, and tell your conveyancer the same day.
4
Confirm removalist, lift and parking bookings, and confirm utility and internet arrangements against your expected access date.
5
Confirm when and where keys will be released, and who is collecting them.
Settlement day
Most settlements are electronic and happen without you in the room. The date is a contractual obligation on both sides. If anything on your side or theirs threatens completion — funds not cleared, documents missing, a problem at inspection — contact your conveyancer immediately rather than waiting to see what happens. Avoid booking the truck for the same morning if you can.
Collect keys, remotes, swipe cards and manuals from the agent, then change or re-key the locks.
The first fortnight after keys
1
Set up rates and water accounts with the council and water authority in your name.
2
If the property is strata, contact the manager for the by-laws, levy dates and insurance certificate.
4
Check the first loan repayment date and that the direct debit matches your pay cycle.
5
File the contract, transfer, insurance certificate and settlement statement together.
Your conveyancer and lender are the people whose advice counts on the day. Nothing here replaces it.
OFFICIAL SOURCES
General information only, not legal or financial advice. Rules differ between states and territories and change over time. Check the source for your jurisdiction before you act on anything here.