Properties which are marked with Pending Settlement Advice or Recent Advice are properties that have transacted recently but are still undergoing the settlement process. This means that there is still a chance that the sale is not final, the conditions of the sale may have changed, or there could be a delay in the settlement process.
It is also important to remember that a pending sale is just an indication of intention to sell and conditions in the confirmed sale can differ from the conditions in the pending sale.
Generally it takes about 6 weeks for a sale to be confirmed and finalised.
Note: The Valuer General on occasion provides us with a pending sales feed, which is an enquiry record made by a settlement agent to rating authorities to determine the rates and taxes applicable to the property in question on the settlement date. This information is collected via the Early Advice of Sale system (EAS2). It is worth noting that not all settlements are processed using the EAS2 system, so not every confirmed sale will have a pending sale record created.
Image 1: A property labelled with 'recent advice'.