Notices to Complete and Late Settlement
What to do when the other side does not settle on time
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Settlement dates slip for all sorts of reasons: finance that arrives late, a seller who has not found a new home, a mortgage discharge that is not ready. A short delay is common and usually costs only some interest. A long one may need a notice that puts the other side on a deadline.
Optimum Lawyers is a property law firm in Parramatta Square, led by principal solicitor Wisam Assi. We act on property in every Australian state and territory.

Call us before you serve or answer a notice
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In NSW
- The settlement date is not usually essential. Under the standard NSW contract, missing it does not by itself let the other side terminate.
- A notice to complete makes time essential. It can be served once the settlement date has passed by a party who is ready, willing and able to settle. It must give a reasonable time to complete, commonly 14 days.
- If the deadline is missed, the party who served the notice may be able to terminate and claim the deposit or damages, depending on who defaulted.
- Late interest. The standard contract allows the seller to claim interest when the buyer settles late, at the rate the contract sets.
In other states
- Queensland. Under the standard contract, time is already of the essence, so a party who is not ready on the settlement date can be in default straight away.
- Victoria and WA. The standard contracts use default notices that give a set time to remedy before a party can end the contract.
Getting the notice right
A notice to complete or default notice only works if it is served by the right party, at the right time, in the right form, and the person serving it is ready to settle. A defective notice can leave the person who served it in the wrong. Get advice before you serve one, and as soon as you receive one.
What clients say
“Wisam was incredible from the get go. Very knowledgeable, well priced and extremely prompt”
Peter Aliferis, Google review
Questions about notices to complete
How long must a notice to complete give in NSW?
A reasonable time. 14 days is commonly used.
Can I terminate if the buyer settles one day late in NSW?
Usually not on that alone. A notice to complete is generally needed first to make time essential.
Can I claim interest for late settlement?
The standard NSW contract allows a seller to claim interest on the balance when the buyer settles late.
Is time of the essence in Queensland?
Yes, under the standard Queensland contract.
Related: Property settlement process | Property dispute lawyers | Property lawyers
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