As the festive season draws near and we settle into holiday mode, it’s worth remembering that many businesses are doing the same.
Purchasing a new home at Christmas can be a fantastic way to kick off the New Year, but buyers may not always consider potential delays in the settlement process caused by public holidays, which can make moving in a longer and sometimes frustrating journey.
Under normal circumstances, a six-week period between contract signing and settlement is usually sufficient. However, with multiple public holidays and holiday leave affecting inspections and termite clearances, it’s wise to plan for extra time if you’re aiming for a December or January settlement.
Grace Boyle, our General Manager, notes that managing expectations with a realistic timeline is essential during this season.
“From a timing perspective, it’s important for sellers, buyers, and agents to approach settlement dates in early January with achievable expectations.
“Lenders, settlement agents, and Office of State Revenue processing times often slow significantly over late December and early January due to public holidays, staff leave, and office closures. Sellers and buyers should be prepared to return documentation promptly and plan settlement dates that allow extra time over the Christmas and New Year period,” Ms Boyle advises.
Taking these steps now can help ensure your holiday home dreams come true with minimal stress.
