Real Estate
11 September, 2025
What to do after contract is signed
CONGRATULATIONS, you have managed to secure the property that you have been dreaming about, your offer has been accepted and you are now under contract, so what’s next?
As many of us find out, there’s a lot to do before you get the keys to your new home.
The first thing we recommend is that you speak with a conveyancer, who will confirm all the important dates and deadlines that need to be achieved so you don’t run out of time.
The next step is to make sure the deposit is paid as soon as possible, speak to the selling agents to confirm secure bank account details before you transfer any funds.
The majority of contracts we negotiate have conditions and traditionally the most common are finance and building and pest inspections.
Buyers need to move quickly to avoid having to request any extension of time which could put at risk the contract.
The seller doesn’t have to agree to any extension, and if the contract is terminated because you need more time, they may sell the property to someone else.
Traditionally a buyer will have at least 10-14 days to complete the building and pest inspection, and 21-28 days to secure finance approval, so it’s important to jump on the phone and book them in.
If everything goes according to plan, your contract should go unconditional, and now you can start to plan the big move, booking removalists, setting up new accounts and working towards your settlement date.
Before you move in it’s important to arrange a pre-settlement inspection usually one-two days before you settle and exchange.
This is to ensure the property is clean and in same condition when you made the offer.
Finally it’s the day you have been waiting for – settlement day and receiving the keys to your new dream home.
Sean Thorpe is the sales director, auctioneer and founder of Paradise Property Group.
