5 Tips that can take the stress out of settlement day

You’ve selected your ideal home, received approval for your offer, and now there’s only one significant step remaining – settlement day.

Settlement day encompasses a blend of enjoyment and formal procedures. As your 1st Street Mortgage Broker, our role is to ensure a seamless process. Continue reading for an overview of what settlement day entails, along with some helpful tips to ensure a smooth and trouble-free experience.

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What’s settlement day all about?

The culmination of your home-buying journey, settlement day marks the moment when legal ownership of the property is transferred to you, and you receive the keys to your new home. Your conveyancer and us, your 1st Street Mortgage Broker, will handle the intricate aspects, ensuring your understanding of every detail, including insurance and lender requirements. The specific settlement date is outlined in your contract, and we’ll review it together to avoid any unforeseen surprises before you make any commitments.

What happens on settlement day?

On settlement day, it’s important that you’ve:

  • conducted a final inspection of the property;
  • arranged building insurance immediately after the contract is signed by the seller; and
  • worked with your conveyancer to ensure all documents needed for the title transfer are ready.

On this significant day, your home loan provider and conveyancer will convene with the representatives of the seller to:

  • finalise the payment of the purchase price, including any applicable government fees and duties.
  • complete and file all legal paperwork with the relevant authorities.
  • officially transfer the title to your name, confirming your ownership of the property.

Upon the completion of all necessary documentation and the fulfillment of the entire process, the settlement becomes official. Congratulations! The home is now officially yours, and you can collect the keys.

Getting ready for settlement day

Meet with your 1st Street Mortgage Broker early

Seeking advice from experts is a wise move. Consult with us even before embarking on your house-hunting journey. We can assist in arranging your home loan pre-approval and provide continuous support throughout the entire process – from locating the perfect property to managing the paperwork, leading up to the significant day and beyond. Feel free to reach out to us for assistance in your search for a conveyancer as well.

Choose a good conveyancer

A conveyancer possesses comprehensive knowledge of property law and will navigate you through your rights and obligations during the settlement process. They take care of all the legal intricacies, ensuring a seamless transfer of the property title from the seller to you.

Set a settlement date that fits your schedule

You might have the flexibility to select a settlement date that aligns better with your needs, especially if you’re coordinating the move from your current residence. Typically, you’ll have a window of 30 to 90 days after signing the contract to organise everything, including loans and paperwork. Given the various tasks involved, let’s discuss the timeline that suits your specific situation.

Remain vigilant with the paperwork

We’ll take care of the loan application and make sure your pre-approval is on track. But you’ll need to fill out and return all your paperwork promptly to avoid any hiccups. It’s important to get it right. So, don’t hesitate to seek advice from legal experts.

Enjoy the journey

We’ll handle the loan application and ensure your pre-approval is progressing smoothly. However, it’s crucial that you promptly complete and return all necessary paperwork to prevent any potential issues. Accuracy is key!

Get in touch with your 1st Street Mortgage Broker early, and let’s make this happen together.

We’re here to guide and support you each step of the way.

Our service is completely


Yes, that’s right. You pay zero, zip, nada.

1st Street’s premium service comes at no cost to you! 1st Street is paid by the lender when your loan settles, however, this will not affect your interest rate or loan fees! It is often more cost-effective for a mortgage broker to process a loan rather than the lenders processing it themselves in-house. In fact, we often find that we can save you money by negotiating on your behalf.

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A word from our satisfied customers

Maxine Zhong
Maxine Zhong
19 October 2023
Amanda has been such an incredible support throughout our very first time going through the home loan process. Her thoughtfulness to regularly check in to make sure all our questions were answered and that all our documents were in place helped to make the whole daunting process feel seamless and easy. I could not recommend her enough - she made sure to keep us informed every step of the way and made sure all necessary documents/processes were completed well ahead of time so we never had to worry about missing any steps. She went well above and beyond her role, and I know we will definitely be coming back to her in the future, as well as recommending her to all of our networks! Thank you again, Amanda!
Mark Nesbitt
Mark Nesbitt
11 October 2023
Greg and the team provide an outstanding service. Highly recommended
Christine Tran
Christine Tran
23 September 2023
Yuval handled my first ever home loan, he did such an amazing job I asked to him to refinance for me 2 years later. Yuval made everything very easy for me, and will give his best recommendation as if it was his own. Would always recommend Yuval :)
David Petrini
David Petrini
25 August 2023
Yuval Bloomfield was an absolute delight to work with. He made it extremely easy for my clients to discuss about their financial situation. With Yuval's strong connections he was able to get the loan my clients wanted in very quick time. Will definitely refer Yuval again.
Sophie Linehan
Sophie Linehan
24 August 2023
Greg and the team at 1st Street were fantastic all the way through the process of getting our financing sorted and buying a new home. They not only secured us the most competitive mortgage in the market but they also gave advice on a number of mortgage-adjacent questions that came up along the way. Their responsive and thoughtful guidance helped make the nail-biting process clear and calm. We would definitely recommend their services.
Gabrielle Scott-Jones
Gabrielle Scott-Jones
18 August 2023
Greg and his team gave me exceptional advice and support. They were timely and detailed in their responses and dealt patiently with me as a first home buyer and all of my questions. The lender at the bank commented on how well I was being looked after compared with other brokers in the market. I’d highly recommend 1st Street to anyone, including friends and family.
Eli Simic
Eli Simic
15 August 2023
Great communication and fast service
Richard Kuipers
Richard Kuipers
11 August 2023
Jeremy and his team are superb. Negotiated the best deal for us and were an absolure pleasure to work with. Highly recommended, you can't do any better in my opinion.
Jordan Rivkin
Jordan Rivkin
1 August 2023
The team at 1st Street truly are professionals. I can't recommend Jeremy highly enough, he is extremely competent and just a great guy. You're in safe hands with 1st Street!
Yossi Bengida
Yossi Bengida
23 July 2023
Another amazing job by David and Bree. Always available for our questions, helpful and just 10/10 Seriously good work !! See you on the next one :) Yossi and liz