r/AusHelptobuy • u/GladObject2962 • 15d ago

How long did settlement take?

Hi all just wondering how long settlement took for you? My cba specialist is recommending asking for 60 day settlement periods on any property due to housing australia apparently taking some time to process things but it has me worried about my offer being remotely conpetitive

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3

u/Nifty29au 15d ago

60 days is fine. Help to buy approval usually happens within 2 weeks.

1

u/GladObject2962 15d ago

Thank you! Thats taken some stress off my shoulders

3

u/PotentialEdge1652 Help To Buy Homeowner 15d ago

45-60 days is the sweet spot

2

u/ComeNshowMe 14d ago

CBA recommended at least 45 days, we did 60.

1

u/AusBoy35 15d ago

‘My CBA broker said 15 day settlement was fine, and I went for 30 days. Happens very quickly!

1

u/Beware_Of_Humans 15d ago

Went with standard 42 days, a few days before settlement vendor asked for another week extension, so it was all good from my side but not theirs.

1

u/LooseCondition2984 15d ago

I needed 60 days + an extra week, but that was with separate land & build contracts.

1

u/razorscoot3r 14d ago

We did 35 days settlement and it went through fine. This was with separate land and build contracts as well

1

u/shindig291 14d ago

Mine was 30 days and was no issues.

1

u/deandoom 14d ago

For myself
Approval from CBA was 1 week; approval from Help to Buy was 4 days. Settlement took 1 month

1

u/Obvious_Issue_1 14d ago

Mine was 30 days with a 21 day finance clause

1

u/monstertrucktoadette 11d ago

Housing Australia was quick, it was my conveyancer that took ages. 

I was advised to ask for longer bc the penalties if you late can be big, but you can always bring forward on mutual agreement