Settlement and Possession Day

Hutt Real Estate Agent

Real Estate Planning with Anna Manning


‘Settlement’ refers to the actual date at which the property is formally sold and ownership transferred from the Seller to the Buyer

Once you have accepted the offer and signed a contract, Anna will forward the contract to a legal agent/conveyance of your choosing. They will administer the settlement which includes exchanges of titles and transferring of funds.

There are various scenarios that can occur during the settlement period and Anna’s aim is to make this as stress free as possible while completing the sale of your home.

Sometimes, for whatever reason, the sale is not completed during the settlement period. To reduce the chances of this happening, it is vital to have the experience of your agent in managing the Buyers and seeking a resolve for the issues on your behalf.

Pre-settlement inspection

It is normal practise that prior to settlement date the Buyer is allowed a pre-settlement inspection to ensure the property is in the same condition as when they agreed to purchase the property. It is therefore important that you maintain the property between contract date and settlement date.

Settlement and possession day

Once the financial settlement has occurred, the keys of the property are handed over to the buyers on the agreed date. This is the moving day when you take possession of your new home and leave your old one. Anna and your legal representative will have done all the paperwork so now is the time to start celebrating your new home!

Anna Manning is a Real Estate Agent at Leaders Real Estate Lower Hutt.
p 027 569 2749 e