Selling your home is a big milestone, and once the sold sticker goes up, it can feel like the hard part is over.
But there are still a few important steps to take before everything is finalised.
Here’s what to expect once your property is sold, so you can move forward with confidence.
If you’ve sold your home via private treaty, the buyer may be entitled to a cooling-off period. This is usually five business days, during which the buyer can change their mind. It rarely affects the seller directly, but it’s helpful to be aware of, just in case the buyer exercises this right. If your buyer does exercise this right, a good sales agent will have other potential buyers to contact. It is good to remember that this period doesn’t apply to auction sales.
Once contracts are exchanged, there’s usually a 6 week period before settlement. During this time, there are a few things to tick off:
It's also worth keeping in contact with your agent, who can guide you through any final steps.
If you’re purchasing another property, the goal is often to settle on your new home on the same day or shortly after selling. This requires careful coordination between both sales and legal teams to ensure funds and timing align. Be proactive in confirming your new settlement date, and have a back-up plan just in case delays occur.
If you’re going to rent a new home for a while, now’s the time to lock in your lease. Make sure your move-in date suits your selling timeline, and factor in time for cleaning, repairs, or any work you plan to do before moving in. It’s also a good idea to set up your utilities and internet in advance so you can settle in smoothly.
Packing up a home you’ve lived in for years can be an emotional and logistical challenge. Start early to reduce stress, and create a moving plan that aligns with your settlement date. Key things to remember:
If you’re moving into a new home at the same time, lining up the dates can be tricky, so allow for a buffer where possible.
On settlement day, the buyer’s and seller’s legal and financial representatives meet (often electronically) to exchange funds and complete the transfer of ownership. Once this is done, the property is officially no longer yours. You won’t need to be physically present, but your solicitor or conveyancer will keep you updated.
This is also when you hand over the keys, and the buyer can take possession of the home. You can also arrange to provide keys and any gate or garage remotes to your agent, who can then hand them over to the buyer once the property has settled.
Whether you’re buying again, renting, or still weighing up your next steps, the period after you sell is a great time to get organised.
It’s also a good time to check in with your mortgage broker, financial advisor, or accountant to make sure everything is in order for your next move.
There’s more to selling than signing the contract. By understanding the next steps, you’ll be better prepared to move on without surprises.
If you're planning your next move or want to make sure everything's on track post-sale, the team at LJ Hooker Mona Vale is here to help. Reach out for expert guidance on your settlement, your next home, or anything in between.