What Happens Now That the Property Is Under Contract?
Congratulations…
Reaching this stage is an important milestone, whether you’re selling, buying, or perhaps doing both.
There are still a few things to take care of before settlement, and this page is here to help you understand what happens next and make it easier to find the information you may need along the way.
We’ll continue to keep you informed, work with your conveyancer where required, and help keep things moving towards settlement.
Your Under Contract Guide
You’ll also receive a printed copy of our Under Contract booklet, together with a few small extras from us, sent to you or a nominated person as previously agreed.
The booklet takes you through what happens between contract and settlement in more detail, including what may be required from sellers and buyers, preparing for moving day and some of the less common situations that can arise.
Keep it handy. You don’t need to remember everything at once. If something becomes relevant later, you’ll know where to find it.
What Happens Over the Next Few Days?
There may be conditions in the contract that still need to be satisfied, documents to sign and arrangements to make.
Some things will happen quite quickly, while others may simply require waiting for an agreed date.
Your conveyancer, finance provider and other professionals involved in the transaction will each have their part to play. We’ll remain in contact, follow the progress of the contract and let you know if anything needs your attention.
If you’re asked to provide information, sign documents or arrange something by a particular date, please deal with it promptly. If you’re unsure about anything, ask before acting.
Key Steps for Sellers
- Check your Form 1 and contract conditions carefully.
- Stay in touch with your conveyancer and sign or return documents promptly.
- Continue insuring the property through to settlement.
- Start planning your move and packing when it suits you.
- Keep us informed if anything changes or if you’ll be away.
- Gather warranties, appliance manuals, spare keys, remotes and other items that will eventually need to be handed over.
- Arrange mail redirection and update your address where required.
If the property is vacant or becomes vacant before settlement, please let us know and check with your insurer that the appropriate cover remains in place.
Key Steps for Buyers
- Pay the deposit as required under the contract.
- If finance is a condition, complete your application promptly and respond quickly to requests from your lender or broker.
- Let us and your conveyancer know as soon as finance approval is received.
- Make sure appropriate insurance is in place.
- Stay in touch with your conveyancer and attend promptly to documents or requests.
- Begin planning utilities, internet and your move.
- Keep us informed if anything changes or if you’ll be away.
$ When Paying a Deposit
Property transactions can involve significant amounts of money, so protecting payment and banking information is important.
If you are required to pay a deposit, we will initiate a secure payment process and you will receive an email and text message with instructions on how to access it. The secure process is designed to protect sensitive information and reduce the risk of payment fraud.
Be cautious if you receive unexpected payment instructions or bank account details by email or text outside this process. If you’re ever unsure, contact us directly before transferring any money.
🧾Documents and Communication
Your conveyancer or solicitor will be in touch with documents and information relating to the transaction. Please attend to anything requiring your signature or response promptly so unnecessary delays can be avoided.
If you’re unsure about something you’ve received, ask before signing or acting on it.
We’ll also remain in contact throughout the period leading to settlement. If anything changes, including travel plans, contact details or circumstances that could affect the transaction, please let us know as soon as possible.
📦 Planning Your Move
Once the contract is progressing towards settlement, it’s worth starting to plan your move rather than leaving everything until the last few days.
If you’ll be using removalists, consider booking them early. You can also start packing things you won’t need before settlement and sorting out what will be coming with you, donated, sold, recycled or disposed of.
Settlement usually takes place around the middle of a business day. If you’re selling, plan to have the property vacated and ready for handover by the agreed time. If you’re buying, wait until we’ve confirmed settlement has taken place before making arrangements to enter the property or collect keys.
Your Moving Checklist, available further down this page, covers many of the little things that are easy to overlook.
A Few Things for Sellers to Remember
Before handover, gather together any spare keys, remotes, access information, appliance manuals and warranties that are staying with the property.
The property should be left clean and tidy, with all personal belongings and unwanted items removed unless something different has been agreed with the purchaser.
A Few Things for Buyers to Remember
Start arranging utilities, internet and other services you’ll need after settlement.
Once settlement has been confirmed, we’ll arrange the handover of keys as applicable. You may also wish to consider changing or rekeying external locks once the property is yours.
Working Together Towards Settlement
Sometimes circumstances change along the way. While agreed dates and arrangements remain important, a little flexibility and early communication can make a big difference when something unexpected arises.
Whether you’re selling or buying, if anything changes for you, let us know as soon as possible. Everyone involved is working towards the same goal: getting the property successfully settled.
🛒Donations, De-Cluttering & Packing
You only need to move what you want to keep.
Before packing everything into boxes, this can be a good opportunity to decide what will come with you and what can be sold, donated, recycled or disposed of.
Anything you don’t intend to take with you will need to be removed from the property before settlement, unless something different has been agreed with the purchaser.
You may like to start packing non-essential items first and clearly label each box with its contents and the room it belongs in at your next place.
Then I’d simplify the old directory without losing its usefulness:
Giving Things Another Life
Before throwing things away, consider whether clothing, furniture, appliances, books and other household items could be useful to someone else.
Local op shops, charities, churches and community organisations may accept donations, and some may collect larger items. It’s worth contacting them first to check what they currently accept and whether collection is available.
Rather than retaining the old phone-number directory, I’d link the organisation names where useful:
The Salvos 13 72 58
Vinnies 1300 729 202
Uniting Communities 08 8202 5070
Savers 08 8263 4300
That avoids maintaining telephone numbers that can change and leaves people free to choose their own preferred charity.
Having a Garage Sale
A garage sale can be another practical way to clear things out before moving, particularly when you have a mixture of household items that are still useful.
And remember, you’re welcome to borrow our Plaza Real Estate Garage Sale signs. Please let us know early so we can make sure they’re available.
Please note that all links open in a new tab. If you come across one that is no longer working, please let me know so I can update it for everyone.
Recycling
Some things can’t easily be donated or sold but don’t necessarily belong in general rubbish.
For information about recycling household items, electronics and other materials:
Recycling Near You – Planet Ark
Electronic Recycling Australia
Recycling Televisions & Computers
Rubbish Collection
If you’ll need a council hard-waste or rubbish collection, book it early. Depending on your council and the time of year, collection dates may not be available immediately.
For anything that can’t be collected in time, you may need to arrange another disposal option such as a skip.
Taking a Break From Packing
Packing and preparing to move can take over your days surprisingly quickly. Sometimes the most useful thing you can do is put the boxes down for a while and spend some time away from it.
Whether by yourself, with family or with friends, here are a few ideas if you need a change of scenery:
Things To Do in Adelaide – Weekend Notes
Things To Do in SA – South Australia
Family & Kids Events – Kids in Adelaide
📁 Helpful Links & Downloads
Here are a few practical resources you may find useful as settlement and moving day get closer:
Australia Post – Mail Redirection
Electoral Enrolment – Change of Address
Moving Checklist
Privacy Statement and Collection Notice
💬Common Questions
Do I need to attend settlement?
No. Your conveyancer handles the settlement process electronically on your behalf.
When do I get the keys?
Once settlement has been completed and confirmed, we’ll arrange the handover of keys as applicable.
What if I have special access needs or want to leave items at the property?
Please speak with us as early as possible. Any arrangements that differ from the contract should be discussed and, where required, properly agreed and documented to avoid misunderstandings.
Why Don’t We Label Our Properties ‘Under Contract’ on Real Estate Advertising Portals Straight Away?
A property may remain advertised while a contract is subject to conditions such as finance or the sale of another property.
During this time, we don’t conduct further open inspections or private inspections, and anyone who enquires is advised that the property is under contract subject to conditions.
Keeping the property visible means we can continue to record interest should the contract not proceed, while also identifying buyers looking for similar properties.
Once the appropriate stage is reached, the property’s online status will be updated accordingly.
🤝Happy With How Things Are Going?
Getting a property under contract is an important milestone, and we hope you’ve been pleased with the way we’ve looked after you and the property so far.
Much of our business comes from people who have experienced our service and then tell others about it.
If you feel we’ve earned it, there are a few simple ways you can help:
Share Your Experience
If you’re talking with family, friends or colleagues about your sale or purchase, we’d appreciate you mentioning your experience with Plaza Real Estate.
Leave a Review
A few words about your experience can help others when they’re deciding who they can trust to help with their own property plans.
Introduce Someone You Care About
If someone comes to mind who could use some real estate advice or assistance, we’d be pleased to have a conversation with them. There’s no expectation that they need to be ready to sell or buy.
And as a thank you, if someone you introduce goes on to list and successfully sell their property with Plaza Real Estate, we’ll give you $1,000.
👋Need a Hand Along the Way?
There are still a few steps between being under contract and settlement, and questions can come up along the way.
If you’re unsure about something, your circumstances change, or you simply want to talk something through, please get in touch.
Eriks Draiska
📞 0418 804 900
Plaza Real Estate
📞 (08) 8396 1100
[email protected]
We’ll continue working with everyone involved to help keep things moving towards a successful settlement.
A Thought Before You Go
Every ending quietly makes room for a new beginning.
