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Manage the unconditional to settled process

  • Updated

Learn how to update a property’s status from Unconditional to Settled in MRI Vault, including prerequisites and key options.

This article covers:

About the unconditional to settled process

When a property reaches its settlement date, updating its status ensures your database remains accurate. This process also updates purchaser details and prepares the property for future actions.

Before you begin

Make sure these conditions are met before settling a property:

  • Settlement date reached or passed - Confirm the settlement date in the Sales Details section
  • Agent Allocation saved and locked - Go to Financials > Agent Allocation to verify this

Settle an unconditional property

  1. Go to: The property profile (with unconditional status)
  2. Ensure the settlement date and agent allocation requirements are met
  3. Click Settled (next to the property status)
    Settled.png
  4. Review settlement options:
  • Update purchaser address with property address - Updates the residency address on the purchaser’s contact card
  • Update purchaser’s postal address with property address - Updates the Postal address on the purchaser’s contact card
  • Suppress Sale Price - Tick this box if you do not want the sale price displayed on portals
    Reconfirm.png
  1. Click Yes/Continue to finalise

The property is now marked as Settled

Additional information

  • Settlement date changes - If the date changes, click Update Settlement Date next to the property status
    Settled.png
  • After settlement:
    • The property gets a new lifecycle ID and status: Prospect/Not Currently Listed
    • The purchaser becomes the owner. Update their contact card as needed
    • Optionally, share the property with the Leasing Department for rental listing

What's next?

Learn how to revert a property from Settled back to Unconditional status.

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