Why You Should Never Settle on a Friday — Conveyancers Hate It (Here’s Why)
/It Sounds Convenient… Until Everything Goes Wrong
Friday might seem like the perfect day to settle. You’re done with work, you’ve got the weekend to move in, and it feels like a fresh start.
But here’s the truth most real estate agents won’t tell you:
Friday settlements are one of the most high-risk decisions you can make in a Victorian property transaction.
And once things go wrong, there’s often nothing you can do until Monday.
At Victorian Property Settlements, we strongly advise our clients against Friday settlements — and we've laid out the reasons in our earlier article here:
👉 Why You Should Not Book a Settlement on a Friday
This new article dives even deeper. Let’s explore the hidden risks and what can go wrong.
1. If Something Delays Settlement — You're Stuck for the Weekend
Most financial institutions and conveyancing teams operate on limited hours late Friday. If a last-minute issue pops up — like missing PEXA documents, bank errors, or a delayed payout figure — there’s no one around to fix it.
You can’t settle.
You can’t collect the keys.
You’re stuck paying removalists for nothing… and possibly sleeping in your car.
2. Vendors Often Disconnect Utilities Early
Because vendors often pre-schedule their disconnection of gas, electricity, or NBN on settlement day, you could walk into a house on Friday evening with no power, no hot water, and no internet.
This problem is magnified on weekends when utility providers have limited reconnection availability.
And if you’re renting and your lease has ended, you’ve just moved your family into a dark, empty box.
3. Banks Work to Internal Deadlines — Not Yours
Even if you’ve confirmed funds and signed everything, your bank’s internal cut-off for settlement may be 3pm or earlier.
If your bank is late to the PEXA workspace — even by 15 minutes — settlement gets pushed to the next business day: Monday.
This delay can trigger penalties and leave you contractually in default — with no fault of your own.
4. PEXA Limitations Add Extra Risk
While PEXA (the electronic settlement platform) has made settlements faster and safer, it still relies on all parties being ready. If anyone’s bank isn’t ready, or if there’s a last-minute workspace error, Friday doesn’t give you a fallback.
Other days offer the chance to roll over to the next day. Friday doesn’t.
5. Key Collections and Agent Availability Become a Problem
Even if settlement occurs at 4:59pm, good luck getting your keys.
Agents may have closed early. Receptionists go home at 5pm. You may be told to wait until Monday to collect the keys to a property you just paid hundreds of thousands of dollars for.
It happens every week.
Why Do Friday Settlements Still Happen?
Because buyers and sellers assume that “Friday gives you the weekend to move.”
In practice, it gives you the weekend to stew in frustration if anything goes wrong.
It also suits agents and vendors who want settlement finalised before the weekend — not necessarily what’s best for you.
Our Advice: Avoid Fridays. Aim for Midweek.
At Victorian Property Settlements, we always recommend midweek settlements — preferably Tuesday through Thursday. This gives everyone:
A buffer if something goes wrong
Time to fix banking issues
A full business day to chase documents or approvals
A clean transition into the weekend
Conclusion
Friday settlements seem like a good idea — until they go horribly wrong.
We’ve seen too many cases where buyers ended up paying penalty interest, losing removalist fees, or even facing legal consequences due to delays outside their control.
That’s why we say it plainly:
Don’t settle on a Friday.
Here’s the article we send all our clients:
👉 Why You Should Not Book a Settlement on a Friday
It could save you thousands — and your sanity.