After Sale: Handover, Settlements, and Owner Questions

Selling a block of units—especially with tenants—doesn’t end at contract signing. Simon Abbott outlines the critical practical steps to smooth settlements and satisfied buyers across Victoria:

• Notifying tenants and managing rights: All tenants must be notified of impending ownership change; rent payments and bonds need clean transfer. Victorian regulations require Continuity of Lease for in-place tenants.
• Handover packs: Rent ledgers, key sets, appliance manuals, council rates info, and Owners Corporation documents all need to be passed to the incoming owner or syndicate.
• Managing settlement delays: With multi-lot sales, it’s common for at least one contract to lag—Simon recommends clause planning for staged settlements and “partial handovers” where practical.

Simon’s insight: Professionally managed handover preserves yield, prevents disputes and ensures future buyer referrals. Leaving this to a generic conveyancer risks details being missed in complex sales.

Need a handover plan? Contact Simon Abbott at Collings for scenario planning and veteran settlement advice.