Conveyancing tips · Queensland

What actually happens on settlement day in Queensland

Settlement day is when the money moves and ownership changes. In Queensland it almost always happens online, and you don't need to be anywhere for it. Here's what goes on behind the scenes.

It happens online

Your lawyer, the other side's lawyer and the banks all sign off in an electronic settlement workspace, usually PEXA. When everyone is ready, the funds move and the transfer is lodged for registration at the same time.

When you get the keys

Once we confirm settlement has gone through, we let you and the agent know. The agent then releases the keys. That's often early to mid afternoon, but it depends on the banks.

The week before: what to do

  • Buyers: book your pre-settlement inspection and confirm your funds are ready
  • Sellers: move out, leave inclusions in place and hand keys to the agent
  • Both: answer your lawyer and bank quickly — delays usually start with a missing signature

General information about Queensland law, not legal advice for your situation.

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