How long till settlement?

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How long till settlement?

Now that you have unconditional approval from the lender, now what?

The lender’s legal team is instructed to prepare the official loan documents and book settlement.

Here is the approximate time frames:

  1. PREPARATION OF LOAN DOCUMENTS: +3 DAYS.   These will be mailed to you by the lender via express post. Some lenders are now allowing loan documents to be email and also signed via digital signatures.
  2. ORANGE HELPS YOU REVIEW AND SIGN: +3 DAYS.  This it the maximum. Usually we’ll be available the day after you receive the loan documents. We sit down with you to explain the loan documents and help you sign them up properly. It’s important not to make any mistakes as it can slow down settlement. You then send the documents back to the bank.
  3. YOUR SETTLEMENT AGENT WILL CONTACT THE BANK: +3 DAYS. After the loan documents has been received and checked by the lender, assuming there are no mistakes, your settlement agent will book a settlement date. If you are buying a property, you will usually have a maximum date as specific in the contract of sale.

Minimum time required for SETTLEMENT: +10 DAYS. Usually you will 3 weeks from finance approval to settle but this is subject to negotiation before you sign the contract of sale.

In this time, you need to do your final inspection and transfer funds to your settlement agent.


After settlement, you can collect the keys from the agent and start to move in.