Smarter spring selling: I’ve sold my house – what now? 

Congratulations – you’ve accepted an offer on your home! It’s an exciting milestone, but the journey doesn’t end there.

Between offer acceptance and settlement, there are still a few important steps to navigate before the keys officially change hands.

Just like researching your home’s value, choosing the right agent, presenting your property well and marketing it effectively, this stage is about being prepared and knowing what to expect.

In the fifth and final edition of our ‘Smarter spring selling’ series, we look at what to expect during the settlement phase and how to prepare for handover day.

Understanding offer conditions

When a buyer makes an offer, it often comes with conditions. The most common include:

• Cash unconditional – the simplest type of offer, with funds already in place
• Subject to finance – where the buyer needs time to finalise their loan
• Subject to sale – where the buyer must sell their own home before they can purchase yours

If you accept an offer with conditions, your agent will explain what they mean, help you monitor progress and guide you through your options if things change. For example, some sellers include a “48-hour clause” to ensure they’re not left waiting too long if another buyer comes along.

And in the event that a buyer’s offer falls through, your REIWA agent will act quickly to find an alternative buyer, often through their network of buyers that were interested during the original campaign.

Inspections and potential negotiations

Buyers may arrange building and pest inspections to check for structural or maintenance issues. If the reports raise concerns, your agent will help negotiate the next steps – this might involve repairs, a price adjustment or in some cases, no changes at all.

Some sellers choose to organise an inspection before listing so buyers can access the report upfront. This can provide reassurance, reduce delays and help prevent disputes later.

Settlement conditions and timing

The settlement period, usually between 30 and 90 days, is when all the formalities are completed. The timeframe should work for both you and the buyer, and your agent can help you negotiate dates that fit with your moving plans.

A longer settlement might give you time to find your next home, while a shorter one can appeal to buyers eager to move quickly.

What to expect on settlement day

You’ve made it – settlement day is the finish line. It’s when ownership officially transfers and the final steps are completed, including:

• The buyer’s settlement agent transferring funds securely to yours
• Finalising legal paperwork and transferring the title
• Buyers sometimes requesting a last walkthrough to check the property’s condition
• Vacating the property and handing over the keys by the agreed time

It’s also important to disconnect or transfer your utilities, redirect mail and do a final clean so the home is ready for its new owners.

Moving forward

Once settlement is complete, you can take a breath and move on to your next chapter.

Whether that’s upsizing, downsizing, buying an investment or renting while you search, your REIWA agent and reiwa.com tools, from suburb profiles to rental estimates and interactive maps, can help you plan your next move.