Smooth Settlement Day: What Actually Happens When You Get the Keys
Settlement day is when the property legally becomes yours — and everything that can go wrong usually does if your conveyancer isn’t on the ball. Here’s the real timeline most buyers never see.
- 8:00 am – Final checks begin>
Your conveyancer confirms final figures with the seller’s solicitor and your bank releases funds to PEXA (electronic settlement platform).
- 9:30am — Electronic settlement booked
Settlement booked for 11:00am — 11:00am — Funds transferred>
Funds transfer instantaneously. Title transfers from seller to you in the Land Registry.
- 11:30 — You get the call
Your conveyancer calls: “Congratulations — Settlement has occurred!”
- 12:00pm – Keys released
Agent is notified automatically and hands over the keys (or arranges collection).
- 2:30pm — Post-sett notifications
Council, water & strata notified of change of ownership.
Most buyers do NOTHING on the day — your conveyancer does it all remotely. You just wait for the good-news phone call and pick up the keys.
Experienced teams like First Class Legal manage the entire electronic settlement process daily, so delays are rare even during busy December rushes.
Want to sleep easy the night before settlement? Book a conveyancer who uses PEXA and has a 5.0 Google rating — your heart will thank you.
Updated for 2025 settlement rules • Published December 11, 2025