Settlement day is the final step in the property selling process, where ownership of the property is officially transferred from the seller to the buyer. As of December 2025, it’s the day funds are exchanged and the buyer receives the keys.
In Melbourne, and particularly within the Eastern Suburbs where Fletchers has operated since 1919, settlement typically occurs 30 or 60 days after the sale is unconditional. Your solicitor or conveyancer will manage the bulk of the process. They’ll liaise with the buyer’s representative to finalise paperwork, including the Transfer of Land. On the day, your solicitor will confirm funds have been received from the buyer’s financial institution. Once confirmed, they’ll release the Title Deed to the buyer. Simultaneously, the buyer’s lender will provide the funds to your solicitor, less any outstanding mortgage and associated settlement costs – typically around $1,000 – $2,000 for legal fees and adjustments. Currently in Melbourne, electronic conveyancing is standard, streamlining this process. Fletchers’ client update technology ensures you’re kept informed throughout, right up to settlement. We understand the importance of a smooth handover, especially in a market where demand for quality family homes near schools, like those in Balwyn and Doncaster, remains strong in December 2025.
Settlement day marks the completion of the sale, allowing both parties to move forward with their respective plans in 2026.