Does Settlement day mean moving day?

We often get asked by our purchasing clients if they can settle in the morning on the Settlement Day so they can start moving in later that day. While we completely understand the desire behind this, if you are financing any part of your property purchase through a lender, settlement cannot generally happen until after 2pm on the settlement day (this is a requirement of the banks).

If you are wanting to move in on the Settlement Date, we recommend you either:

1. Ask the Seller if they agree to bring Settlement forward by one day; or
2. Ask the Seller if they are agreeable to granting early access prior to settlement.

Failing that, most people arrange to have their movers the day after settlement.

The conveyancing solicitor team at the MAP Lawyers are ready to assist you with all of your conveyancing needs. If you have any questions about settlement day, call us on 1300 680 584 or contact us online.