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title: What does settlement involve?
description: After you have signed and returned your loan documents, the next step will be the settlement process. Settlement is the official process of transferring ownership of a property from the seller to the
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2. [3. Before your Settlement](https://learn.huntergalloway.com.au/migration/3-before-your-settlement?hsLang=en)

# What does settlement involve?

After you have signed and returned your loan documents, the next step will be the settlement process.

### The settlement process

Settlement is the official process of transferring ownership of a property from the seller to the buyer. It takes place between the legal and financial representatives of those parties, and by the end of it, you should be the new owner of that property.

### How the settlement process works

- Your solicitor/conveyancer will prepare a Transfer of Land document for you to sign. This should be done at least two weeks before the settlement date. This Transfer of Land document will then be registered at the State/Territory Land Registry Office on your behalf.
- Your solicitor/conveyancer will contact us, the seller's solicitor/conveyancer and any other interested parties to organise the date, place and time of settlement.
- Your solicitor/conveyancer should advise you of the exact date and time of settlement, as well as the amount of funds that you're required to provide before that (if applicable). This amount should be made available in your nominated bank account at least three days before settlement.
- Your solicitor/conveyancer should contact you to confirm that settlement has taken place. They will also send you a Statement of Adjustment to confirm how the funds have been disbursed to the parties involved.

### What happens after settlement

Once your solicitor/conveyancer has informed you that settlement has happened:

- Arrange to pick up your keys from the real estate agent
- Your solicitor/conveyancer will send you the settlement details
- The bank will send you a loan drawdown confirmation letter with your account and repayment details.

- [Complete Guide to Making an Offer](https://learn.huntergalloway.com.au/migration/complete-guide-to-making-an-offer?hsLang=en)
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- [3. Before your Settlement](https://learn.huntergalloway.com.au/migration/3-before-your-settlement?hsLang=en)
- [4. After Your Settlement](https://learn.huntergalloway.com.au/migration/4-after-your-settlement?hsLang=en)
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