Does the Property Buyer Needs to be Present During the Settlement | Investment Property FAQs

October 30th, 2023

Completing settlement on a property purchase can be an exciting yet stressful time. A common question for buyers is – do I need to physically attend settlement? At Empire 8 Property, we often help clients navigate this process. In this guide, we’ll provide tips on whether your attendance is required and how to ensure smooth settlements.

In Most Cases, You Don’t Need to Personally Attend

For straightforward purchases without complications, your physical presence is generally not necessary on settlement day. Here’s how it typically works:

  • Your conveyancer and the seller’s conveyancer handle all the paperwork.
  • Funds are transferred electronically between parties.
  • Once settlement is finalized, you receive confirmation of ownership transfer.

As long as everything is in order, the lawyers/conveyancers can finalize the transaction on your behalf without you being present.

Where Your Presence May Be Necessary

While rare, there are certain situations where you may need to attend settlement in person:

  • If additional documents or signatures are required unexpectedly
  • If there are last-minute funding issues that need resolution
  • For purchases happening under tight deadlines
  • If you’re in town and simply wish to witness the process

But with proper planning, most settlements proceed seamlessly without the buyer.

Ensuring Avoidance of Attending Settlement

You can minimize the chances of needing to physically attend settlement by:

  • Providing all required documents and signatures well in advance
  • Confirming your conveyancer has the correct bank details
  • Ensuring funds are available in your account ahead of time
  • Communicating any travel plans that could impact attendance

Staying organized and proactive reduces headaches down the road.

Let Us Handle the Heavy Lifting

The conveyancing process can be complex for first-time buyers. At Empire 8 Property, we have extensive experience managing settlements from start to finish so you don’t have to worry. Our goal is making the process as smooth as possible.

Further information on our comprehensive property acquisition support, get in touch now at 0433 213 993 or click to arrange a meeting. Let us manage the legalities while you enjoy the thrill of your new investment!