Simultaneous Settlement: Navigating Buying & Selling

When you're planning to sell your current home and purchase your next one, the timing between the two can feel like a balancing act. One of the most effective ways to move smoothly from one property to another is through simultaneous settlement — where the sale of your existing property and the purchase of your new property settle on the same day.

This allows the proceeds from your sale to be used immediately toward your new purchase, meaning you move once, avoid temporary accommodation or storage costs, and in many cases, avoid holding two mortgages at the same time.

However, it does require coordination, good communication, and a clear lending strategy. Let’s walk through how it works and what you need to consider.

What Is Simultaneous Settlement?

Simultaneous settlement is when the settlement for the property you are selling and the settlement for the property you are buying occur on the same day. Your sale finalises first, and the funds are transferred straight across to complete your new purchase.

Your conveyancers and lenders coordinate the sequence through the digital property settlement platform (PEXA), ensuring the funds transfer in real time.

The result is simple:
Hand over the keys to your old home, pick up the keys for your new home, all on the same day.

Why Homeowners Choose Simultaneous Settlement

• You only need to move once

• No need for temporary accommodation or storing furniture

• You may be able to avoid bridging finance

• Lower overall stress and moving costs

• It provides a cleaner, more streamlined process

For many, this is the most practical and cost-effective approach.

How the Process Works

1. Plan Your Lending Strategy First

Before making or accepting any offers, discuss your borrowing capacity and settlement timing with a Mortgage Broker.
This ensures you understand your financial position clearly before committing.

2. Secure a Buyer and Find Your Next Property

Once both transactions are underway, your conveyancer and real estate agent work to align settlement dates.
Most simultaneous settlements use 60–120 day settlement periods to allow enough time to coordinate finance and documents.

3. Align Settlement Dates in Both Contracts

Your conveyancer confirms the exact same settlement date across both transactions and arranges the order of settlement (sale first, then purchase).

4. Coordinate Loan Discharge and New Loan Setup

Your existing mortgage must be discharged and your new loan prepared. Your Mortgage Broker works with both lenders to ensure the funds are ready on time.

5. Settlement Day

The sale settles.
Funds are released.
Your purchase settles shortly after.
You collect the keys and move into your new home.

Everything happens in a carefully timed, coordinated sequence.

What Can Cause Delays (and How to Avoid Them)

The most common issues come down to timing and paperwork. Delays can occur if:

• Your buyer’s finance is not approved in time

• Your lender has not processed discharge paperwork

• Loan documents are signed late

• Building or pest inspection issues arise at the final inspection

• Settlement dates in the contracts don’t match exactly

To avoid this, start paperwork early, sign documentation promptly, and keep communication flowing between your Mortgage Broker, conveyancer and agent.

What if Your Deposit Is Tied Up in Your Current Home?

If you don’t have the required deposit available before your sale settles, you may consider:

• Negotiating a reduced deposit with the vendor

• Short-term assistance from family

• Using a Deposit Bond (with vendor approval)

Your Mortgage Broker can help determine which option is most suitable.

Simultaneous Settlement vs Bridging Finance

Simultaneous settlement keeps the process streamlined but requires both transactions to align.

If the timing doesn’t work — for example, if you find your next home before you find your buyer — bridging finance may be an option. Bridging loans provide short-term flexibility but can come with higher costs and lender requirements.

This is why planning early matters.

How We Support the Process

As your Mortgage Broker, we:

• Work out your borrowing capacity and structure your loan correctly

• Coordinate both lenders to ensure the timing is aligned

• Work closely with your conveyancer to confirm settlement dates and documents

• Help keep the process running smoothly and avoid last-minute surprises

• Make sure you only need to move once, not twice

We handle the complexity — so your transition is smooth.

Planning to Buy and Sell at the Same Time?

The key to a successful simultaneous settlement is preparation.

If you're considering selling and buying together, we’ll guide you through the timing, structure and process to make your move seamless.

Book Your Free Home Loan Strategy Call
We'll help map out your next steps clearly and confidently.

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