Settling & moving out

The lead-up

Planning for settlement day

• Your obligations continue: keep the property insured and in the same condition as when the agreement was signed, right up to settlement.
• Chattels stay put: everything listed in the agreement remains, in working order.
• Anything you promised, do — agreed repairs or removals finished before the buyer's inspection.
• Book the move for settlement day or earlier — the buyer's lawyer won't release funds to a house full of your furniture.
• Close out the admin: final meter readings, mail redirect, insurance cancelled from the day after settlement, council notified.

The buyer's pre-settlement inspection

Shortly before settlement the buyer walks through to check everything matches what they bought. Make it boring: house clean, chattels present and working, keys and remotes gathered. Issues raised here go lawyer-to-lawyer and can delay settlement or cost you a retention.

Settlement day

The lawyers run the day. The buyer's side pays the balance; your lawyer repays your mortgage, accounts for commission, and transfers the title. Once funds clear, the agent releases the keys.

• Be out (or nearly out) by mid-morning — settlements typically complete between late morning and mid-afternoon.
• Leave every key, remote, alarm code and manual — a folder on the bench is a classy final touch.
• Leave the place clean — "reasonably clean and tidy" is the standard to beat.
• If the buyer delays, the agreement gives you remedies; your lawyer handles that conversation.

This guide is general information, not legal or financial advice — always get independent advice from your lawyer. See also the Real Estate Authority's settled.govt.nz.