7th January, 2026

Buying and selling property at the same time can feel overwhelming. However, a simultaneous settlement can simplify the process when planned correctly. This approach allows two linked property transactions to settle at the same time on the same day.

A simultaneous settlement means the sale proceeds can fund your purchase in real time. As a result, many homeowners can rely on this structure to move forward without extra finance. This arrangement is common when upsizing, downsizing, or relocating.

Why People Choose Simultaneous Settlement

Most purchasers cannot purchase without selling first. Therefore, a simultaneous settlement can be required financially. It also reduces the need for bridging finance in many situations.

Additionally, you avoid storage and temporary accommodation costs, and it can reduce disruption for families and professionals alike.

Loan transitions are also streamlined. For example, an existing mortgage can be discharged and replaced on the same day. Similarly, utilities can be disconnected and reconnected with minimal downtime.

How the Process Works in NSW

The sale and purchase transactions are legally linked. As a result, careful coordination between all parties is essential. If one settlement is delayed, the other is also effected.

Funds from the sale are directed toward the purchase on settlement day. Meanwhile, lenders release mortgages and register new security electronically. All New South Wales (NSW) settlements occur through Property Exchange Australia (PEXA).

PEXA allows parties to complete settlements digitally. Therefore, documents and funds are exchanged securely and efficiently. This system is mandatory and has significantly reduced settlement errors across NSW.

Legal Considerations and Risks

Once contracts exchange, parties are legally bound. Consequently, failing to complete can result in serious financial penalties. For purchasers, this often includes forfeiting the deposit.

To manage risk, settlement dates must align perfectly. Additionally, special conditions may be required in both contracts. Your conveyancer can negotiate clauses to protect your position.

Sometimes, a “subject to sale” condition is considered. However, vendors often reject these in competitive markets. Therefore, expert advice is essential before committing.

Planning for a Successful Settlement

Preparation is critical for a smooth outcome. Firstly, finance should be confirmed early and moving arrangements must be planned carefully.

You must vacate your sold property before settlement. Likewise, access to the new property occurs only after completion. Because of this, timing errors can create unnecessary stress.

Clear communication is vital throughout the process. Accordingly, you should communicate with your conveyancer early and liaise with agents and lenders regularly. This coordination helps avoid last-minute surprises.

How We Can Help

Simultaneous settlements in NSW allow purchasers to sell and purchase property on the same day. With the right advice, it can deliver efficiency and financial certainty.

Bangalow Conveyancing assists clients across Byron Bay, Suffolk Park, Bangalow, Brunswick Heads, Ocean Shores, Mullumbimby, Gold Coast, Tweed Heads and Ballina. We guide you through every step, from contract exchange to settlement day.

If you are considering a simultaneous settlement, call our experienced conveyancing team at Bangalow Conveyancing today on 6687 0548.