What Happens on Settlement Day in WA: A Guide to the Final Step

Quick answer: On settlement day in Western Australia, settlement completes electronically through the PEXA platform. Buyers and sellers don’t need to attend in person or meet anyone at a settlement table. Your settlement agent lodges the Transfer of Land with Landgate, WA’s land titles registry, and coordinates the exchange of funds inside the PEXA workspace at a scheduled time. Settlement itself is usually complete within about an hour once everyone’s documents and funds are confirmed. Keys are released once your settlement agent confirms settlement has gone through. If the seller has been living in the property, though, they may be entitled to stay until the following day.

This guide covers the settlement day process from start to finish. Here’s what to expect on settlement day: how the PEXA workspace actually works that morning, when funds and title transfer, and exactly when you get your keys. PEXA (Property Exchange Australia) is the electronic platform used for property settlements across Australia. See our guide to how PEXA revolutionised conveyancing in Western Australia for more on how it works. For everything that happens beforehand, see our guide to the property settlement process in Perth. If you’re working out how many weeks away it is, see how long property settlement takes in WA.

Settlement day at a glance:

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The Day Before Settlement: What to Prepare

By the day before settlement, most of the paperwork should already be done. Your settlement agent will have lodged signed documents into the PEXA workspace and confirmed the financial settlement schedule (the breakdown of who pays what, and to which account) in the days beforehand. There are still a few things worth checking:

• Buyers: confirm your final inspection is done, if your contract includes one, and check with your lender that loan funds are approved and ready to release into the workspace. Arrange building and contents insurance to start from the settlement date.
• Sellers: arrange final meter readings and redirect your mail. Confirm with your real estate agent when and how keys will be handed over, particularly if you’re still living in the property. If you haven’t already, check our seller’s settlement checklist for the RCD, smoke alarm, and vacant possession obligations you need to meet before settlement.
• Both parties: confirm you’re reachable by phone on settlement day. Your settlement agent will call once it’s confirmed.

Settlement Day Morning: How the PEXA Workspace Works

So how does settlement day work, exactly? Settlement is booked for a specific timeslot on the agreed date, usually within business hours, confirmed in advance by your settlement agent. Before that timeslot arrives, the PEXA workspace needs to reach what’s called “Ready/Ready” status. That means every party’s lodgement documents are complete, and every party’s funds are confirmed and matched to the financial settlement schedule.

If the workspace is Ready/Ready when the booked timeslot arrives, settlement proceeds automatically. If it isn’t, because a lender hasn’t loaded funds yet or a document is still outstanding, PEXA rolls the booking to the next available slot. This typically happens in 30-minute increments, continuing until the workspace is ready or the day’s last slot passes without settling. This is common and doesn’t necessarily mean anything has gone wrong.

When Settlement Confirms: Title Transfer and Funds Released

Once the workspace is Ready/Ready and the timeslot begins, settlement itself is largely automatic. Funds move electronically between the accounts listed in the financial settlement schedule. The buyer’s lender releases the purchase funds, the seller’s existing mortgage (if any) is discharged, meaning paid out and removed from the title, and the balance is paid to the seller. At the same time, the Transfer of Land is lodged with Landgate, WA’s land titles registry. Legal ownership formally passes on registration rather than lodgement itself. For a standard electronic transfer, this is often completed the same day, though Landgate can take longer if a document needs further review.

Most settlements in Western Australia complete within about an hour of the workspace becoming Ready/Ready, and often faster. Once it’s done, your settlement agent receives confirmation through the PEXA workspace and notifies you and the real estate agent involved. Sellers typically see their sale proceeds the same day. It’s still worth allowing up to a few business days for funds to fully clear your bank account, particularly if they’re moving between different financial institutions.

When Do You Get the Keys After Settlement?

For the buyer, here’s what happens on settlement day once funds have exchanged and the transfer has been lodged. As a general rule, you’re entitled to the keys once settlement is confirmed and the real estate agent has been notified. In practice, that usually means keys become available later the same day.

There’s one WA-specific exception worth knowing: section 6.5 of the Joint Form of General Conditions, the standard REIWA contract used for most WA property sales, addresses this directly. If the seller occupies the property as their principal place of residence immediately before settlement, they’re entitled to remain in occupation until 12pm on the day after settlement. If that clause applies to your purchase, you won’t get the keys until then, even though settlement itself completed the day before.

If the property is vacant at settlement, this doesn’t apply. Keys are typically available as soon as your real estate agent has confirmation. Either way, your settlement agent and real estate agent will confirm the exact handover timing for your specific contract.

What If Settlement Is Delayed on the Day?

Most WA settlements go through on schedule, but delays on the day can still happen. Common causes include a lender not loading funds into the workspace in time, a document that hasn’t been signed or lodged, or a system issue at Landgate or with PEXA itself.

If your settlement day process rolls to a later timeslot, this usually resolves within the same day. If it doesn’t settle by the final timeslot, it may need to be rebooked for the next business day. Delays can occur due to lender funding, system issues, or missing documentation, and there’s no guaranteed same-day resolution.

If your settlement is delayed, contact your settlement agent directly rather than your bank branch. They can see the workspace status in real time and explain what’s holding things up. Penalty interest or contract rights are a matter for a solicitor, not your settlement agent. For a full breakdown, see what to do if settlement is delayed in WA.

Planning Your Move Around Settlement Day

Settlement day doesn’t run to the minute, so it’s worth building a buffer into your moving plans rather than booking everything for the exact scheduled timeslot.

• Buyers: avoid booking removalists for first thing in the morning. A late-morning or early-afternoon booking lowers the chance of a clash if your settlement rolls to a later timeslot, though delays can still happen, so keep your removalist’s details handy in case timing shifts.
• Sellers: if you’re relying on your right to stay until 12pm the day after settlement, tell your removalist and the buyer’s agent in advance. Don’t assume you need to be fully out on settlement day itself.
• Selling and buying on the same day? This is a linked settlement, and it carries extra risk: if one side rolls to a later timeslot, the other may need to move with it. Build in more buffer than usual, and see our guide on the top causes of settlement delays in Perth for how to plan around this.

Frequently Asked Questions

How does settlement day work in WA, and what time does it happen?

Settlement runs electronically through PEXA and is booked for a specific timeslot, usually within business hours. Your settlement agent will confirm the scheduled time in advance and let you know once it’s actually completed.

Do I need to attend settlement in person?

No. Settlement in Western Australia is completed electronically through PEXA. Your settlement agent manages the entire process on your behalf, and you don’t need to be present or sign anything on the day itself.

What happens if settlement doesn’t go through in my scheduled timeslot?

It rolls forward to the next available timeslot, typically in 30-minute increments, until the workspace is ready. Your settlement agent can tell you exactly what’s outstanding.

When exactly do I get the keys?

Usually later the same day as settlement, once your settlement agent confirms completion to the real estate agent. The exception is if the seller was living in the property immediately before settlement. In that case, section 6.5 of the Joint Form of General Conditions allows them to remain until 12pm the following day.

Can settlement happen on a weekend or public holiday?

No, settlement timeslots run on business days only. If your settlement date falls on a weekend or public holiday, check with your settlement agent which business day settlement will actually proceed on.

Ready for Settlement Day?

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The information in this article is general in nature and does not constitute legal, tax, or financial advice. Strategic Settlements is a licensed settlement agent and cannot provide legal advice. Individual circumstances vary. We recommend consulting a qualified professional, including a solicitor, tax adviser, or the WA Office of State Revenue, before making property decisions.