No Fixed Hour — But a Firm Deadline
There's no set time written into the agreement for exactly when you get your keys — only a deadline for when settlement must be complete. In practice, keys usually change hands around lunchtime, once the vendor's lawyer has confirmed the purchaser's payment has cleared and instructed the real estate agent to hand them over.
The whole process depends on a chain of bank confirmations happening in sequence, so the exact hour can shift depending on how quickly each bank and law firm processes their part.
Bank Processing Speed
Law Firm Coordination
Settlement must be completed by 4:00pm under the standard contract — if it isn't, the process rolls over to the next working day.
How to Make the Day Go Smoothly
Steps that help keep timing on track.
Have your funds ready early
Get any balance owing to your lawyer's trust account well before settlement morning.
Stay reachable on the day
Your lawyer or agent may need to reach you quickly once keys are ready for collection.
Plan for some flexibility
Avoid booking movers for the exact morning — build in a buffer in case of delays.
Quick Summary
- There's no fixed key-handover time — only a 4:00pm settlement deadline.
- Keys usually change hands around lunchtime, once payment is confirmed.
- Build in a buffer for movers rather than booking the exact settlement hour.