"BEST Customer Service in Conveyancing" Award Winner for 2022 & 2023 (Word Of Mouth)

Talk to a Lawyer
1800 532 326
Call & Talk To A Lawyer (FREE consult)
1800 532 326

What is a settlement statement?

A settlement statement is basically a statement that contains all the apportionment of outgoings and liabilities attached to the property and required by the contract to be adjusted. The items that are usually included in the settlement statement are mortgage discharge fees, rates, water charges, body corporate levies, rent, etc. The information that is needed to prepare a settlement statement is collected by your conveyancing lawyer from the contract, searches, other professionals that are related to the transaction, such as the property manager.

The settlement statement will tell the buyer how much they need to pay the seller at settlement, which would then help the buyer determine how much they will need to prepare in their short fall account. The settlement statement is generally available to the parties to review about 5 days before settlement.

It is important to understand though that the settlement statement is subject to change prior to settlement and is only a draft until settlement date. Hence, it is always important to make an allowance for this when you are preparing funds for settlement. It is always good to overestimate than to underestimate the funds needed for settlement.

Get Your Quote Now
Enter Your Details Below and We’ll Calculate Your Conveyancing Fees in 30 seconds
Contract Review
drafting
Contract Drafting
Buying Conveyancing
Selling Conveyancing
Transferring Property
SSL Green Logo
SSL Security & Privacy Assured

Lead Legal Services Pty Ltd (ABN 86 640 514 558)
Proud to be a registered conveyancing law firm.

Member of Queensland Law SocietyPEXA Members Badge

Our Recent Reviews

Judith Williams Avatar
Judith Williams
23 Nov 2023
Great company to deal with during my purchase, Erica Gruen (who was my paralegal) especially. Erica made the process easy to understand and answered all my questions (of which, there were many!).
read more
Fate Avatar
Fate
15 Nov 2023
Happy with the service, although it wasn't always straight forward. Everything ok in the end - and that's what's important.
read more
Chiran Attanayaka Avatar
Chiran Attanayaka
15 Nov 2023
Very professional service, every time my solicitor went on leave the other one emailed me and took over the file, kept sending important reminders, continuously followed up with the sellers solicitor, bank etc. Great friendly service.
read more
See More
lead conveyancing logo footer
Brisbane
Suite 5, Level 18, 324 Queen Street, Brisbane QLD 4000 Australia
Melbourne
Level 2, Suite 9, 454 Collins St, Melbourne VIC 3000, Australia
Sydney
Level 36, Governor Phillip Tower, 1 Farrer Pl, Sydney NSW 2000, Australia

Liability limited by a scheme approved under Professional Standards Legislation