One of the fastest ways to slow down a settlement is not having the right documents ready when your agent asks for them.
Your settlement agent works to strict deadlines. When they need something from you, they usually need it quickly. Getting organised early means you can respond without delay, and it gives your agent more time to focus on the parts of the process that actually require expertise. Use this checklist to get ahead of it.
The contract and property documents
These are the foundational documents your agent needs from day one. Have them ready as soon as you engage.
- Signed contract of sale The title document for the property. Your agent will also conduct their own searches, but having this on hand speeds things up.
- Strata documents (if applicable) Strata plan, by-laws, and any recent AGM minutes or levy notices. Required for strata and survey-strata titles.
Identity documents
All parties to the transaction need to be verified. Your agent is required by law to confirm your identity before the settlement can proceed.
- Driver's licence or passport A current government-issued photo ID. Most agents require at least two forms of identification.
- Secondary ID A Medicare card, utility bill, or bank statement confirming your current address.
- Company or trust documents (if applicable) If purchasing or selling as a company or trustee, you will need the relevant ACN, ABN, trust deed, or company constitution.
Your settlement agent will tell you exactly which documents they need and how to send them. If you are unsure about anything on this list, ask before settlement gets underway — it is much easier to sort out early than the week before settlement day.
Finance and banking details
If you are using a mortgage to purchase, your agent needs to coordinate directly with your lender. Get these details ready early.
- Lender contact details The name of your lender, your loan account number, and the contact details for your bank's settlements team.
- Formal finance approval Written confirmation from your lender that finance has been approved and the loan is ready to proceed to settlement.
- Account for settlement funds (sellers) Your BSB and account number for the proceeds of sale to be deposited after settlement.
Property-specific documents
Depending on your transaction type, some additional documents may be required. Your agent will confirm which apply to your situation.
- Building and pest inspection reports If inspection conditions form part of your contract, the reports confirming the outcome of those inspections.
- Council and water rate notices Recent rate notices so your agent can calculate the correct adjustments at settlement. Usually the most recent quarterly notice is sufficient.
- Existing mortgage details (sellers) If there is an existing mortgage on the property being sold, your agent will need your lender's details to arrange the discharge.
Being prepared makes everything faster
Most delays in the lead-up to settlement come down to one thing: waiting on documents. The sooner you can get everything together, the more smoothly the process runs for everyone involved.
Your settlement agent will send you a formal request for documents when you engage. This checklist gives you a head start so nothing comes as a surprise. If your situation involves a trust, company, or unusually complex title, ask your agent early whether there is anything additional you need to prepare.
The right agent will also tell you exactly what they need and why. If yours isn't doing that, it might be worth comparing your options before you go any further.
