The Blog Things to do after settlement

Things to do after settlement

Once the champagne cork is popped and you’ve celebrated the sale of your property, it’s not too long before you need to focus on the post-settlement phase. And while it’s easy to get caught up in the settlement period (paperwork and transfer of ownership etc), it’s the period after that can really expand your to-do list. From cancelling services to updating address records, here are are some ways to make sure that your post-settlement period is as hassle-free as possible.

Hand over the keys
It sounds obvious but handing over the keys is the first thing on the list. If the property was your principal place of residence, you have until midday on the day after settlement to move out and give the keys to the real estate agent. Otherwise, you must hand the keys over as soon as settlement is complete.

Cancel services
With so much on the to-do list when moving, cancelling services associated with the property can be overlooked. The kind of services you should look at cancelling include home and contents insurance, electricity, gas, phone, internet and pay TV. Other services that may need cancelling include cleaning, gardening and swimming pool maintenance.

Update your address records
Updating address records can be one of the most onerous tasks but doing so ensures you will continue to receive important correspondence. The list of addresses to update includes, but is not limited to, the following;

  • Australian Electoral Commission
  • Australian Taxation Office
  • Department of Transport
  • Department of Human Services (Centrelink, Medicare)
  • School, TAFE, university
  • Banks and other financial institutions
  • Superannuation funds
  • Lawyers and accountants
  • Doctor, dentist and other healthcare providers
  • Gym
  • Mobile phone provider
  • Newspaper and magazine subscriptions
  • Childcare facilities if applicable.

It’s also worth putting a mail redirection service in place for a couple of months after settlement to ensure that you don’t miss any important letters.

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