Settlement Journey Key Milestones

  • 9 months prior
  • 6 months prior
  • 3 months prior
  • 1 month prior
  • Settlement triggered
  • Settlement day
  • reset

Settlement Journey

Your guide to the 
Settlement Process

Industry best practices passed along to you.

With our complete end-to-end settlement services, we handle your entire settlement journey.

Settlement is a legal process that is facilitated by lawyers or solicitors, financial representatives, the developer (the seller), the Australian State Government and the project sales representative.

Begin Journey

9 Months Prior

Prepare for settlement

You will receive a call from our consultants who will outline all the necessary steps in preparing you for settlement.

Read more

Preparing for your settlement

We will call you to prepare for your settlement journey.

You will receive a call from our consultants who will outline all the necessary steps in preparing you for settlement. We will maintain regular contact, supplying you will details of construction updates, anticipated completion timeframes, and important settlement notifications.

It is important that we have your correct and current contact details, including your phone number, email, and physical address. If you have changed lawyers or solicitors, we must also be notified.

You need to advise us if you will be settling in cash or if you will require finance. If you plan on settling in cash, it is imperative that you begin to take the necessary steps to start transferring settlement funds into your solicitor’s trust account.

6 Months Prior

Organise your financing strategy

We will assist you in organising a funding strategy
and finance options for settlement.

Read more

Preparing for your settlement

You will receive ‘Pre-Settlement Information’ about the development.

We will guide you through the settlement process and introduce you to our services, including finance mortgage, property management, tax, and accounting, to ensure you are able to hit key milestones to complete your settlement.

At this stage, we advise you to start preparing paperwork for your finance ‘pre-approval’. Smartkey Finance can assist you in assessing your funding strategy and finance options well in advance of your property settlement. Book a tailored finance solution with our mortgage expert today! Contact us on FS@smartkeyproperty.com.

If you are settling your property in cash, you should start preparing for funds to be transferred to your solicitor’s Australian trust account.

It is imperative you seek professional advice for tax-effective decisions. Smartkey Tax and Accounting partners provide comprehensive tax and accounting solutions to both our international and local clients. As registered tax agents and certified public accountants, they cater to the needs of both businesses and individuals. To book a consultation today to start preparing a tax strategy for your new investment, contact us on AS@smartkeyproperty.com.

Learn more

3 Months Prior

Secure your finance pre-approval

We will assist you with arranging finance pre-approval
and getting ready for settlement.

Read more

Preparing for your settlement

At this stage, we will keep you updated on construction progress and when practical completion is due.

You should be arranging finance pre-approval with a mortgage broker or financial institution.

Your mortgage broker or financial institution will issue you with a pre-approved loan which will last up to 90 days. Obtaining this pre-approval will ensure the settlement process is not delayed. If you require assistance with settlement finance, Smartkey Finance and partners can assist you. If you are settling your property in cash, you should have at least 50% of your balance funds in your solicitor’s Australian trust account.

With the completion of your property expected soon, if you are an investor, now is time to start thinking about the leasing and management of your property. Doing this early will ensure you have a hassle-free start to your investment and the highest possible chance to minimise your vacancy rate whilst maximise your return.

Our Property Management partners offer all aspects of the property management process, ensuring a seamless experience that saves you time and money. To ensure you are prepared for your property handover, request a free rent appraisal with our expert Property Managers! You can get in contact with us at PM@smartkeyproperty.com

Learn more

1 Month Prior

Book your valuation and pre-settlement inspection

We will assist you in coordinating property valuation
and pre-settlement inspection bookings.

Read more

Preparing for your settlement

Around this time, valuation access will be available to valuers appointed by your broker.

It is typically one of the final steps your broker requires for your loan to reach unconditional approval.

You will then be invited to your pre-settlement inspection. We recommend that, where possible, you take this one-time opportunity to inspect your property thoroughly. If you are not available, we suggest you use an independent specialised inspector to carry out your pre-settlement inspection for you. If required, we are able to assist you with this.

The pre-settlement inspection provides you with the one opportunity to inspect your future home and identify any issues that may be present. If present, these will be raised with the seller so they can be rectified within the warranty period.

If you are settling your property with cash, you should have at least 80% of your settlement funds already in your solicitor’s Australian trust account. Whereas, if you are settling by loan, it is important that you have obtained an ‘Unconditional Finance Approval’ after your valuation has been conducted and you have signed the loan documents. If you require urgent assistance with settlement finance, we can assist you. For more information contact us FS@smartkeyproperty.com.

By now if you have not arranged the leasing and management of your property, don’t delay any further. To ensure a smooth settlement and property handover, speak with one of our expert property managers today.

Settlement Triggered

Are you ready for settlement?

We will inform you when the developer sets the settlement
date and is confirmed by your solicitor.

Read more

Preparing for your settlement

The developer will set the settlement date when the development has reached practical completion and a title for the property is issued.

For a developer to obtain a Registration of Title and Certificate of Occupancy they must pass all Australian and local State Government requirements.

Your solicitor will advise you once settlement is triggered. When buying off-the-plan, your contract will stipulate the notice period the seller must give you in order to complete settlement. This period usually ranges between 14 – 28 days from the Registration of Title.

Once settlement has been triggered, if you are settling by loan you should have 100% of your shortfall and stamp duty ready in your solicitor’s Australian trust account. Whereas, if you are settling your property with cash, at this point you should have 100% of your settlement funds available in your solicitor’s Australian trust account. If you require a settlement extension, this can be requested through your solicitor once settlement has been triggered.

If you have not arranged a professional Property Manager to look after your investment property, don’t delay a smooth property handover as the developer will now provide instructions for your key collection.

Settlement Day

Collect the keys to your new home

Congratulations on the settlement of your new property!
We will help you to coordinate key collection
and property handover.

Read more

Preparing for your settlement

Now is the time for the settlement of your property, final payment, and key handover!

Once your loan offer is signed and returned to your lender, your solicitor and chosen lender will liaise with one another to ensure funds are prepared for settlement. The seller’s solicitor will liaise with your solicitor to arrange the settlement and transfer of the property.

Your keys are ready for collection once settlement has taken place, and from there you can now move into your new home, or find a suitable tenant for your investment!

Learn more