How soon after settlement can you move in?

Buying a home in Melbourne is an exciting milestone, but one question keeps popping up for almost every purchaser: "How soon after settlement can I move in?" The short answer is usually straight away, once the funds and title have changed hands and the agent releases the keys. In practice, however, a handful of legal, logistical and human factors can nudge that timing forward or back. This detailed guide unpacks those factors so you can plan your move with confidence.

Understanding "Settlement" In Victoria

Settlement is the legal hand-over day when the buyer's money is exchanged for the seller's title, adjustments for council rates and water are made, and the transfer is lodged with Land Use Victoria. In most Victorian contracts the settlement period sits between 30 and 90 days, although parties can nominate a longer or shorter timeframe when signing the contract of sale.

The Typical Same-Day Timeline

Morning – Final Inspection

Victorian purchasers are entitled to inspect the property once during the week before settlement to confirm that everything is in the agreed condition. Most buyers schedule this for the morning of settlement so any last minute issues can be raised quickly.

Midday – Digital Settlement Completes

Once all parties mark the workspace "ready" the PEXA system settles, often around midday. Funds clear instantly between financial institutions and the electronic Certificate of Title changes hands.

Early Afternoon – Agent Releases the Keys

The moment your conveyancer receives confirmation, he or she phones the selling agent, who can then release the keys and any alarm codes. Legally you now "take possession" and the seller's responsibility for council rates, water and body corporate fees ends at midnight.

If everything proceeds smoothly you could, in theory, collect the keys at 1 pm and start unloading the van by 1:30. Many Melbournians still give themselves a 24 hour buffer, booking removalists for the following morning to avoid stress should the digital workspace roll to a later slot.

What Can Delay Key Collection?

Bank paperwork – A missing discharge authority or last-second loan condition can hold up one party's bank and force the workspace to roll.
Human error – Incorrect figure entry or failure to verify a document is more common than you might think.
Seller still packing – Occasionally the vendor underestimates removal time and wants the afternoon to finish vacating.
Late-day slot – A 4:00 pm booking that rolls once will not complete until the next business day.
Public holidays – No settlements occur on weekends or Victorian public holidays.

Planning for these contingencies—by requesting an early-day slot and confirming your bank's paperwork a week out is the best antidote.

Early Possession: Moving In Before Settlement

If synchronising two moves is proving impossible you can negotiate an early possession licence. This is a written agreement, incorporated as a special condition or side deed, that lets the buyer occupy the property before money changes hands. The buyer accepts full responsibility for insurance, utilities and any damage, and usually pays a daily licence fee roughly equivalent to market rent. The seller is under no obligation to grant early access and many refuse because the legal title still sits in their name until formal settlement.

Rent-Back Arrangements

Conversely, some sellers request to remain in the property after settlement under a rent back, sometimes called "licence to occupy". This can suit downsizers waiting on the build of their next home. The parties set a daily rent and an end date often four to eight weeks. Keys pass to the seller turned tenant at settlement and the buyer becomes their landlord for that short period. Your conveyancer can draft licence clauses to protect your interests and ensure the seller lodges a bond if the stay exceeds 28 days.

Buying a Tenanted Property

When you buy an investment property with renters in, you cannot simply move in on settlement day. The existing rental agreement remains in force. Under Victorian legislation, if the fixed term lease has already expired or is set to expire, the vendor (or you once you become the landlord) may issue at least 60 days' notice to vacate on the ground that you intend to occupy the premises.

That notice cannot end earlier than the current fixed term period, so in worst case scenarios owner-occupier buyers may be waiting several months. Always ask your conveyancer to confirm the lease end date, bond details and any notices already served before you sign the contract.

Off-The-Plan Purchases And New Builds

If you are buying an apartment off the plan or a brand new house, settlement is triggered by the issue of the occupancy permit or certificate of final inspection. The builder delivers a practical completion notice, you conduct a defects inspection, and the lender arranges a valuation. Only after settlement has occurred and the keys are released can you organise move in but watch for conditions in the contract that require the developer to rectify certain defects within 90 days. Delays in local council sign off can push settlement and move in back by weeks, so keep your lease flexible if you are renting while you wait.

Practical Steps For A Smooth Melbourne Move

Utilities – Arrange electricity, gas and water at least three business days out. In metropolitan Melbourne that often means contacting your preferred provider to set up a new account.
Internet – NBN technicians can be in high demand. Book an appointment once you are confident of the settlement date.
Insurance – Building insurance should commence from 4:00 pm on the next business day after the contract of sale is signed, but update contents cover to start on settlement day.
Parking permits – If your new postcode falls inside a council parking scheme (think Port Phillip or Yarra), lodge your resident permit application early or arrange temporary permits for removalist trucks.
Mail redirection – Australia Post can redirect for 3, 6 or 12 months while you update each sender.
Change of address – Victorian licence, electoral roll, banking and MyGov details should all align with your new address within a fortnight.
Removalist timing – Book morning slots and confirm with the agency once the keys are physically in your hand.

Case Study: Sarah And James, Carlton North

Sarah and Miguel bought a Victorian terrace scheduled to settle on 15 March. Their conveyancer secured an 11:30 am PEXA slot. Two days before settlement the outgoing mortgagee flagged incomplete discharge paperwork, threatening a rollover. With quick phone calls and couriered originals, the workspace was marked "ready" by 10:45 am and settled as planned. By midday the couple had keys, at 2 pm the cleaners arrived, and the removalist truck pulled in at 8 am the next morning. Their takeaway? Confirm banks and sellers are organised and give yourself a buffer for cleaners before your furniture arrives.

Frequently Asked Questions

Can I store boxes in the garage after the final inspection?

Not unless the vendor has given written permission. Until settlement, possession remains with the seller.

Does my lender have to attend settlement in person?

No. Most major banks now settle through PEXA. Your mortgage broker can track real-time status updates.

What if settlement falls over a long weekend?

Plan for a Tuesday move. No settlements take place on public holidays, and councils may close on the Friday.

Can the agent refuse to hand over the keys?

Yes if the vendor's conveyancer has not formally confirmed settlement. Always wait for that green light.

Who pays for utilities on settlement day?

The seller is liable up to and including the day of settlement; you take responsibility from the following day.

Move In With Confidence

In most Melbourne transactions you can move in the moment settlement is wrapped up and the agent hands over the keys. By understanding PEXA timing, preparing for potential delays, and working closely with an experienced conveyancer you'll turn that empty house into your new home with minimal fuss.

Need tailored advice? Speak with the local experts at Pearson Chambers Conveyancing. We have guided thousands of Melburnians through smooth settlements and early possession negotiations. Contact us today for a free Section 32 contract review and move in timeline assessment.

Phone: 03 9969 2405
Email: contact@pearsonchambers.com.au