Property settlement day is meant to be the finish line, the moment when money changes hands, ownership transfers, and keys are collected. But what happens if things don’t go to plan? Whether you're buying or selling property in NSW, a delayed settlement can trigger stress, costs, and legal headaches.

At Paul Denny Conveyancing, we’re here to help you understand your rights, responsibilities, and next steps if a settlement doesn’t happen on time.

What Is Property Settlement?
Property settlement is the legal process where the buyer pays the balance ofthe purchase price and the seller hands over ownership of the property. In NSW, this usually happens 42 days after the contract is exchanged, unless the parties agree to a different date.

The transaction is finalised by both parties' conveyancing specialists and banks. Title is transferred, funds are released, and keys are handed over.

Why Might Settlement Be Delayed?
There are several reasons settlement might not go ahead as scheduled, including:

• Delays with finance approval or loan funding
• Outstanding paperwork or identity verification
• Incomplete documentation from the other party
• Last-minute disputes over inclusions or repairs
• Bank or PEXA platform errors

Regardless of the cause, delays can disrupt moving plans, storage bookings, bridging loans, and even back-to-back sales.

What Happens If You're Buying Property in NSW andSettlement Is Delayed?

If you’re the buyer and you’re unable to settle on time, you may:

• Be charged penalty interest as set out in the contract (usually calculated daily)
• Risk losing your deposit if the delay is prolonged
• Be served a notice to complete, giving you a short window (often 14 days) to settle or face termination of the contract

This is why it’s vital to work with conveyancing specialists in NSW who manage the timeline proactively, communicate with all parties, and resolve issues before they escalate.

What Happens If You're Selling Property in NSW and theBuyer Delays?

If you’re the seller and the buyer causes the delay, you may:

• Be entitled to default interest
• Serve a notice to complete and, if they fail to settle, you may terminate the contract and retain the deposit
• Face complications if you're relying on those funds to buy another property

Having an experienced team ensures you know your rights and can take appropriate action swiftly.

Can Both Parties Agree to Extend?

Yes. Extensions to the settlement date are often possible if both parties agree. But it must be formalised through your conveyancers or solicitors. Don’t assume a delay will be tolerated, always communicate in advance and get confirmation in writing.

How Can Delays Be Prevented?

Working with trusted conveyancing specialists in NSW is one of the best ways to reduce the risk of delays. At Paul Denny Conveyancing, we:

• Keep in regular contact with banks, agents, and solicitors
• Prepare all documents early
• Flag and address issues before they impact settlement
• Keep you informed at every step

Whether you're buying or selling property in NSW, proactive management makes all the difference.

Final Thoughts
Settlement delays can be stressful, but they’re not uncommon. The key is preparation, transparency, and professional guidance. If you're concerned about your timeline or need help navigating a potential delay, our team is here to help.

At Paul Denny Conveyancing, we’ve supported thousands of clients through smooth and not-so-smooth settlements. We’re the conveyancing specialists in NSW who know what to expect and how to protect your interests.

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