What happens on the settlement day?

02.04.25

Download our Settlement Day Checklist

1. MONEY FROM THE BANK

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.

Expected timing 9am - 1pm


2. SELLER'S LAWYER'S UNDERTAKINGS

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.

Expected timing 10am - 12pm


3. HOUSEME LEGAL'S UNDERTAKING

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


4. HOW DOES THE TITLE AND MORTGAGE PART WORK?

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.

Expected timing 11am - 2pm.

5. WELCOME TO HOME OWNERSHIP

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.

Expected timing 12pm - 4pm.

6. REPORTING LETTER

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

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

7. SO, WHEN WILL EVERYTHING BE ALL DONE?

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.