Property settlement
This is where the ownership of the property is officially transferred from the vendor to the buyer and usually occurs around 6 weeks from the date of the exchange of contracts. On this day, the rest of the purchase price (less the deposit) will be transferred from the lender to the buyer’s bank account and finally paid to the vendor. 

Did you find it helpful? Yes No

Send feedback
Sorry we couldn't be helpful. Help us improve this article with your feedback.
Get in touch
We're here to help! If you have a specific question, you can call us on Monday-Friday from 8.30am-6.00pm (Sydney time).