What happens on the settlement day?

02.04.25

Download our Settlement Day Checklist

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1. MONEY FROM THE BANK

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I am waiting to receive confirmation from the bank that funds are on the way. I will advise you once the funds have arrived in HouseMe Legal's trust account.
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Expected timing 9am - 1pm

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2. SELLER'S LAWYER'S UNDERTAKINGS

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Before I can pay the seller's lawyer your settlement amount, I need to receive undertakings (a legal promise) from them that they.

  1. are ready to settle; and
  2. will release the title into your name upon receipt of the settlement funds.
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Expected timing 10am - 12pm

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3. HOUSEME LEGAL'S UNDERTAKING

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Once we receive the bank funds, HouseMe Legal then undertakes it has paid the settlement amount to the vendor's lawyer.

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4. HOW DOES THE TITLE AND MORTGAGE PART WORK?

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The seller's lawyer releases the LINZ e-dealing into House Me Legal's control.

We will then submit the transfer and mortgage which are registered at LINZ.

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Expected timing 11am - 2pm.

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5. WELCOME TO HOME OWNERSHIP

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Congrats, you will now have your name on the title, and you can collect the keys (often from the real estate agent).

I will give you a call to confirm you are now the owners.

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Expected timing 12pm - 4pm.

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6. REPORTING LETTER

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I will then send you a summary email with your invoice, record of title and some final points to consider.

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Expected timing 2pm - 5pm on Settlement Day or the following day.

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7. SO, WHEN WILL EVERYTHING BE ALL DONE?

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The best case scenario is often early afternoon but sometimes on a busy day (e.g. most Fridays), it may not be until late afternoon.

Settlement Day is a special day where you can relax and enjoy all your hard work to get to this point. We will take care of everything today.

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