Buying guide
What happens on settlement day?
What to expect.
AI summary
Settlement day is the final step in buying a home. On this day, your lawyer transfers the balance payment to the seller's lawyer, the property title is officially transferred to your name, and you collect the keys.
It's crucial to complete a pre-settlement inspection beforehand. While you can move in immediately, it’s wise to wait a day in case of delays. Potential issues include:
- Slow bank processing
- Last-minute property damage
Always call your lawyer first if any problems arise.
Your settlement day checklist
1. The balance is paid.
2. The key handover
3. The document handover
Your lawyer will have an important role to play on settlement day.
Is settlement date the day you move in?
What could go wrong on settlement day?
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