Set your contract date, conditions and deposit to map the key milestones between exchange and settlement day - including a subject-to-sale chain when the purchase depends on selling your existing home.
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The period between contract exchange and settlement is when both parties work through the conditions in the contract and prepare the legal and financial steps needed for the title to transfer and funds to move. On a standard private-treaty residential purchase in Australia, this typically spans 30 to 60 days, though the period is set by the contract itself and can be shorter or longer by agreement.
The main parties involved are the buyer's and seller's conveyancers or solicitors, the buyer's lender, and — where relevant — a mortgage broker. The conveyancers manage searches, document preparation and the settlement booking. The lender conducts a valuation, issues formal loan documents and organises funds for settlement day. In most Australian states, the settlement itself is now conducted electronically through the PEXA platform, which coordinates the transfer of funds and title documents between all parties in real time.
Settlement timeframes and the required steps differ by state. Each jurisdiction has its own standard contract form, vendor disclosure requirements, stamp duty lodgement deadlines and search obligations. A purchase in Queensland follows different procedural steps to one in Victoria or Western Australia, even if the overall sequence — conditional period, searches, settlement booking, pre-settlement inspection, settlement day — is broadly the same. For a detailed walkthrough, see the conveyancing guide.
After exchange, both parties work through any conditions — finance approval, building and pest inspection — and conveyancers conduct title searches, prepare transfer documents and arrange the settlement booking. The buyer's lender prepares loan documents and organises funds. A pre-settlement inspection typically occurs in the week before settlement day.
The key parties are the buyer's and seller's conveyancers or solicitors, the buyer's lender and, in most cases, a mortgage broker. In most Australian states, settlements are conducted electronically through the PEXA platform, replacing the old physical cheque-and-title exchange.
Each state and territory has its own conveyancing legislation, standard contract forms and search requirements. Cooling-off periods, vendor disclosure timing, stamp duty lodgement deadlines and the availability of electronic settlement all vary, which affects how long the process takes in practice.
A subject-to-sale condition makes a purchase conditional on the buyer first selling their existing property. If that sale does not complete within the agreed window, the buyer may be able to terminate the purchase contract. These conditions add complexity because two separate transactions must run to plan simultaneously.
General information from AgentBridge, a property distribution business. It is not financial, legal or property advice. Always confirm milestone dates and obligations with your conveyancer or solicitor.