Open Framework

The 47 Steps Between Exchange and Keys

Every coordination milestone in an Australian property settlement, mapped across VIC, NSW, QLD, SA, and WA. Three years of research. 30+ real settlements. One framework.

43Coordinated
4Require You
5States
Phase 1Phase 2Phase 3Phase 4

Phase 1

Immediately After Exchange

Days 1 to 3

Post-exchange administration. Confirm all parties, file the contract, set every deadline, and establish the communication cadence that prevents problems in weeks 3 to 6.

  1. 1
    Confirm exchange with both solicitors and issue formal instruction letters
  2. 2
    Send purchaser congratulations and settlement timeline summary
  3. 3
    Send vendor congratulations and next-steps overview
  4. 4
    File fully executed contract in document management system
  5. 5
    Set and confirm all key dates: finance, pest/building, settlement
  6. 6
    Confirm cooling-off period status and expiry date (VIC: 3 business days, NSW: 5 business days, QLD: 5 business days, SA: 2 business days after Form 1 service, WA: no statutory period)
  7. 7
    Issue initial instruction to conveyancer with contract copy
  8. 8
    Log deal in CRM and assign all milestone reminders
  9. 9
    Confirm both parties have correct solicitor contact details
  10. 10
    Send deposit receipt confirmation to purchaser

Phase 2

Finance, Inspections, and Conditions

Days 4 to 21

The highest-risk fortnight. Finance approval, building and pest inspections, strata searches, and special condition satisfaction all run in parallel. The agent is the communication bridge between purchaser, vendor, two conveyancers, a broker, and sometimes a building inspector.

  1. 11
    Chase purchaser's broker or lender for finance status update
  2. 12
    Confirm pest and building inspection is booked
  3. 13
    Follow up inspection report receipt and review
  4. 14
    Advise vendor of inspection outcome where requiredYour judgement
  5. 15
    Track finance approval deadline and send reminder 5 days prior
  6. 16
    Chase formal finance approval letter from lender
  7. 17
    Confirm satisfaction or waiver of all special conditions
  8. 18
    Update conveyancer on all condition outcomes
  9. 19
    Send 7-day check-in to both vendor and purchaser
  10. 20
    Confirm title search has been ordered by conveyancer
  11. 21
    Verify deposit has cleared into trust account

Phase 3

Pre-Settlement Preparation

Days 22 to 35

The quiet middle where vendor compliance items surface. Rate certificates, water certificates, mortgage discharge requests, and any special conditions from the contract must be confirmed. This is where 43% of agents report chronic stress from workload (Revive Report).

  1. 22
    Chase conveyancer for settlement booking confirmation
  2. 23
    Confirm settlement date and time with both parties in writing
  3. 24
    Send vendor pre-settlement preparation guide
  4. 25
    Send purchaser pre-settlement guide (what to expect, what to bring)
  5. 26
    Follow up any outstanding vendor disclosure items (Section 32 in VIC, Form 1 in SA)
  6. 27
    Confirm utility and council rate adjustments are underway
  7. 28
    Chase conveyancer for settlement statement draft
  8. 29
    Confirm any special condition fulfilment documentation is lodged
  9. 30
    Verify strata or owners corporation documentation is in order
  10. 31
    Send 14-day check-in to both vendor and purchaser
  11. 32
    Confirm removalist or access arrangements with vendor
  12. 33
    Check for any caveats or encumbrances flagged on title search
  13. 34
    Follow up any outstanding chattels or inclusions queries

Phase 4

Final Week Before Settlement

Days 36 to 42

Every unresolved issue converges. Pre-settlement inspection, PEXA workspace confirmation, mortgage discharge verification, key handover logistics. If every milestone was tracked, settlement day is a formality.

  1. 35
    Send settlement week briefing to both vendor and purchaser
  2. 36
    Book and confirm pre-settlement inspection time with purchaser
  3. 37
    Accompany or coordinate pre-settlement inspectionYour judgement
  4. 38
    Document and resolve any pre-settlement inspection issuesYour judgement
  5. 39
    Confirm settlement funds are in place with purchaser's conveyancer
  6. 40
    Chase final settlement statement sign-off from both conveyancers
  7. 41
    Confirm key handover logistics (time, location, who attends)
  8. 42
    Send settlement day instructions to vendor (keys, access, meter reads)
  9. 43
    Confirm settlement has completed with conveyancer
  10. 44
    Notify vendor and purchaser of settlement completion
  11. 45
    Arrange key handoverYour judgement
  12. 46
    Log settlement completion in CRM and close deal file
  13. 47
    Send post-settlement thank you to both parties and request review

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Related Resources

VIC Settlement Timeline

3-day cooling-off, Section 32, 60-day standard

NSW Settlement Timeline

5-day cooling-off, Section 66W, 42-day standard

Cooling-Off Periods by State

Complete state comparison with penalties and waivers

Why Settlements Fall Over

6 common causes and how to prevent them