Settlement arrangements are specific to the transaction. Ask your Queensland solicitor or law practice what must be completed, when funds are required and who should be contacted if anything changes.
Confirm the process
Confirm the settlement date and process
Ask your Queensland solicitor or law practice to confirm the settlement date, expected timing and how the transaction will be completed. Electronic conveyancing in Queensland can use more than one approved platform.
Confirm the status of contract conditions and obligations
Ask whether all conditions, notices, documents and other obligations requiring attention before settlement have been completed. Do not assume that every outstanding matter ended when the contract became unconditional.
Follow the directions for providing settlement funds
Confirm the amount you must provide, the account or payment method to use and the deadline for cleared funds. Payment arrangements differ between transactions, so rely only on verified instructions from your Queensland solicitor or law practice.
Verify before you pay. Before transferring money, verify the payment instructions through a trusted contact method. Property transactions are a common target for payment redirection fraud.
Confirm that the lender is ready for settlement
Ask the lender or mortgage broker whether the required loan documents, insurance evidence, valuation and remaining conditions have been completed. Your Queensland solicitor or law practice can confirm whether the lender is ready within the settlement workspace where applicable.
Review transfer duty and settlement adjustments
Ask how transfer duty will be assessed and paid for the transaction. Review the proposed adjustments for council rates, water charges, body corporate levies, rent or other applicable outgoings and ask about anything you do not understand.
Protect the property and check its condition
Insurance and final inspection rights should be considered well before settlement day. The applicable timing and obligations come from the contract and the particular insurance policy.
Confirm when building insurance should begin
Do not wait until settlement to consider building insurance. Under many standard Queensland contracts, the property is at the buyer's risk from 5 pm on the first business day after the contract date. Different arrangements may apply, including for some off the plan or body corporate purchases. Ask your Queensland solicitor or law practice and insurer when cover should begin.
Arrange the final inspection under the contract
Ask when the contract allows the property to be inspected and provide any required notice. The inspection is usually arranged shortly before settlement, although the precise right and timing depend on the contract.
Compare the property with its agreed condition
Check whether the property appears to remain in the condition required by the contract. Record any new damage or material change without assuming its cause or legal effect.
Check agreed inclusions and occupation arrangements
Confirm that agreed inclusions remain at the property and that excluded items have been removed where required. Check whether the property is vacant, tenanted or occupied in the manner specified by the contract.
Document concerns and contact your solicitor
Photograph and record any concern identified during the final inspection and contact your Queensland solicitor or law practice promptly. Do not agree to a solution with the agent or seller before receiving advice about the available contractual options.
A buyer should not independently delay settlement, withhold funds or assume a particular remedy is available. Your Queensland solicitor or law practice can advise how the contract applies and communicate with the seller's representative.
Prepare for possession
Confirm the key and access arrangements
Ask when and where keys, remotes, access cards and available entry codes will be released after settlement. Confirm the handover process with the agent and your Queensland solicitor or law practice.
Ask about available property records
Where relevant, ask about manuals, warranties, service records, security information and certificates that the seller has agreed or is required to provide. Their availability depends on the contract and the documents held by the seller.
Understand body corporate insurance and responsibilities
For a community titles property, review the body corporate insurance information and confirm what the scheme policy covers. The buyer may remain responsible for contents, improvements or other parts of the lot depending on the scheme, building format and policy.
Prepare for any continuing tenancy or management arrangement
If the property is not being provided with vacant possession, confirm the tenancy, rent, bond, property management and handover information relevant to the purchase. Ask your Queensland solicitor or law practice what should be provided before or after settlement.
Arrange what you will need
The appropriate date for electricity, gas, internet, contents insurance and moving arrangements may depend on when you receive possession or intend to occupy the property. This is not always the settlement date.
Arrange electricity and gas where required
Contact the relevant retailers early enough to arrange connection or account commencement for the date you need the services. Confirm the available connection arrangements rather than assuming an existing account will transfer.
Understand how the water account transfers
For a property serviced by Unitywater, water and sewerage services remain connected and the property account transfers automatically after settlement. Ask your Queensland solicitor or law practice whether an appropriate Unitywater search and settlement adjustment have been completed.
Arrange internet and communications
Check available providers, existing infrastructure and likely connection timing. Arrange the service early where internet access is important from the occupation or moving date.
Arrange contents cover, mail and address changes
Confirm when contents insurance should begin based on when your possessions will be at the property. Arrange mail redirection and update important organisations using the date that suits your move rather than assuming every change must occur on settlement day.
Service arrangements vary between properties and providers. Rural, acreage and newly completed properties may require additional time or further checks before connection.
05 Settlement day and immediately afterWait for confirmation
Keep the relevant contacts available
Keep the contact details for your Queensland solicitor or law practice, lender or mortgage broker and agent available. Direct legal or settlement questions to your solicitor rather than attempting to resolve them directly with the seller.
Wait for confirmation before collecting keys
Do not assume settlement has completed at the scheduled time. Wait until your Queensland solicitor or law practice confirms completion and the agent confirms that keys or access devices can be released.
Complete the immediate handover checks
After receiving possession, collect the available keys and access devices, record relevant meter readings and confirm that the services you arranged are operating. Store the contract, settlement statement, insurance documents and other important property records securely.
This completes the six buyer checklists. Each property and contract is different, so use the checklists as a framework and follow the advice and directions provided for the particular transaction.
Your legal and financial representatives manage much of the settlement process. Careful preparation helps ensure the funds, documents, insurance, inspection and handover arrangements are ready when needed.