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If you sell a house .. How long until money is received after settlement?

Discussion in 'The Buying & Selling Process' started by D'Mo, 25th Jan, 2016.

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  1. D'Mo

    D'Mo Well-Known Member

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    just wondering how long after settlement date it normally takes to recieve the money (profit made from selling house) in my account ..

    I'm guessing it takes a while to clear & then I'd have to wait a while?
     
  2. D.T.

    D.T. Specialist Property Manager Business Member

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    Payment is sent at time of settlement. From there, just normal bank's clearing time depending on whether they're doing EFT or cheque.
     
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  3. Property Twins

    Property Twins Mortgage Brokers - Australia Wide Business Plus Member

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    It should be the evening or the next day. Once settlements happen, the money is generally deposited the same evening. Check with your Bank re their policy :)
     
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  4. D'Mo

    D'Mo Well-Known Member

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    Thanks very much guys


    Tried googling it but kept directing me to pages about 'what to expect on settlement day' but nothing to do with money going into my account haha
     
  5. Property Twins

    Property Twins Mortgage Brokers - Australia Wide Business Plus Member

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    Hi @D'Mo

    When is your settlement?
     
  6. D'Mo

    D'Mo Well-Known Member

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    Hi there

    Wednesday ☺️
     
  7. Johnny Cashflow

    Johnny Cashflow Well-Known Member

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    It's a great feeling when you get the $$$
     
  8. D'Mo

    D'Mo Well-Known Member

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    I can only imagine lol I'm not sure what i should do with it yet :/
     
  9. pinkboy

    pinkboy Well-Known Member

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    Drugs, alcohol and hookers - then waste the rest!


    pinkboy
     
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  10. D'Mo

    D'Mo Well-Known Member

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    Haha well obviously