Why Does Conveyancing in Victoria Sometimes Take Longer Than Expected?

Why does conveyancing in Victoria sometimes take longer than expected?

Usually because the timeline was longer from the start. Victorian settlement periods commonly run 30 to 90 days, compared with around six weeks in NSW, and several Victorian steps depend on third parties. Our national guide to how long conveyancing takes shows how Victoria compares with other states.

The main reasons a Victorian sale takes longer than people expect are:

• The seller sets the settlement date. The date is written into the contract by the seller, and sellers who are buying another home often choose a longer settlement to line the two up.
• Auction terms are fixed in advance. At auction the buyer accepts the seller's settlement terms and has no cooling-off period, so a long settlement is often part of the deal.
• Section 32 must come first. The seller has to gather title, zoning, rates and other information for the vendor statement before any buyer signs.
• Owners corporation certificates. For units and townhouses, the owners corporation has up to 10 business days after receiving the application and fee to issue its certificate.
• The Digital Duties Form. Land transfer duty is assessed through the State Revenue Office's online form, which every party must sign before settlement, and complex transactions must be submitted 30 days before settlement.
• Victorian public holidays. Days such as the Friday before the AFL Grand Final, and Melbourne Cup Day in metropolitan Melbourne, are not business days, which pushes out cooling-off and settlement bookings.
• Off-the-plan registration. Settlement waits until the building is complete and the plan of subdivision is registered with Land Use Victoria.

Delays that are not specific to Victoria, such as finance and linked sales, are covered in why conveyancing takes so long.

How long does conveyancing take in Melbourne?

Most Melbourne purchases settle 30 to 90 days after the contract is signed, the same as the rest of Victoria. The conveyancer's work usually starts earlier, with a review of the contract and Section 32 before you sign or bid.

The same steps apply in Geelong and across regional Victoria. For local quotes, see conveyancing in Melbourne.

How does the Section 32 vendor statement affect the timeline?

It is the first job in any Victorian sale, because the seller must give it to the buyer before the buyer signs the contract. The vendor statement, known as the Section 32, sets out title details such as mortgages, covenants and easements, along with zoning, outgoings like rates, and whether the property is in a bushfire-prone area.

Sellers cannot shortcut it. If it is missing, incomplete or wrong, a buyer may be able to withdraw from the sale. For units and townhouses, an owners corporation certificate and its accompanying documents must be included, and because statements are sometimes prepared up to 12 months before the sale, buyers should ask for an updated certificate before settlement.

For buyers, having the Section 32 reviewed before you sign or bid is the step most likely to prevent a delay later. See our guides to the Section 32 vendor statement and reviewing a vendor statement.

How long is the cooling-off period in Victoria?

Three clear business days. It applies to private sales of residential property and rural property under 20 hectares, and it runs from the day the buyer signs the contract, not the day the seller signs.

There is no cooling-off period if:

• you buy at a public auction, or within three clear business days before or after one
• the property is mainly used for industrial or commercial purposes, or is over 20 hectares and mainly used for farming
• you previously signed a contract for the same property with the same terms
• the buyer is an estate agent or a corporate body

To cool off, give written notice to the seller or their agent within the period. You get your money back less a small amount set by law. See our cooling-off guide for how other states compare.

What settlement periods are common in Victoria?

Consumer Affairs Victoria says the settlement period is usually 30 to 90 days, with the date set by the seller in the contract. Within that range, the choice mostly reflects the parties' other plans rather than the legal work.

• Shorter settlements suit cash buyers, buyers with formal approval already in place and sellers who have already moved out.
• Longer settlements suit sellers buying their next home, buyers who need to sell first, and anyone timing a move around a lease ending or the school year.
• Off-the-plan contracts usually tie settlement to registration of the plan of subdivision rather than a fixed date, with a sunset date as the outer limit.

In a private sale the settlement period can be negotiated before signing, so ask for the date you need as part of your offer. At auction it is fixed by the advertised terms, so check them before you bid. Once the contract is signed, changing the date needs the other party's written agreement.

How do duty and settlement day work in Victoria?

Duty is assessed online before settlement, and settlement itself happens electronically. Land transfer duty in Victoria runs through the State Revenue Office's Digital Duties Form, which is mandatory for duty transactions. The conveyancers complete it in Duties Online, and the SRO advises completing it early enough for every party to sign before settlement. Identity details must match before the form can be signed, and complex transactions must be submitted 30 days before settlement.

If you are claiming a first home buyer exemption or concession, tell your conveyancer when you engage them so the form is right first time; see Victorian first home buyer duty concessions.

On settlement day, both conveyancers and the lenders sign in a shared online workspace, funds move, and the transfer is lodged with Land Use Victoria for registration.

How to keep a Victorian settlement on track

Most Victorian delays can be avoided with a few early checks.

• Review before you bid. Have the contract and Section 32 checked before auction day, because there is no cooling-off afterwards.
• Match the settlement date to your finance. Make sure your lender can meet the date, especially on a short settlement.
• Check the calendar. Avoid settlement dates that fall on or straight after Victorian public holidays.
• Order owners corporation certificates early. Sellers of units can request them as soon as they decide to sell.
• Raise duty concessions early. The Digital Duties Form needs the right details before anyone can sign it.

If settlement does slip, dealing with a delayed settlement explains the options. ConveyDirect arranges fixed-fee conveyancing quotes across Victoria, with a response within two business hours and free contract review when you are buying.

Frequently asked questions

This guide is general information, not legal or financial advice. Rules, fees and timeframes change and differ between states, so confirm your own situation with a licensed conveyancer, settlement agent or solicitor.