Once you’ve made the decision to sell your property and have listed it for sale with your real estate agent, one of the first tasks is to give your Conveyancer your instructions to prepare a Section 32 (Vendors) Statement, on receipt of Sales Advice from your Agent, and then prepare the Contract of Sale of Real Estate.  It is vitally important that you provide your Conveyancer with any information which affects the property, including any building works, easements, the sale of rural water entitlements on the property.  As Vendor you have obligations of disclosure, and Vendors Statements must contain the correct, relevant information about the property.  Failure to disclose this information can create unnecessary delays, and even void the Contract.

Sale Contract

The contract will include not only the legal terms and conditions of sale, but will also specify what items are included or excluded from the sale, and any other special requirements you might have, like a longer or shorter settlement than usual, or perhaps that the contract be conditional upon another contract for you to buy your next property. There are a lot of ways that a contract can be varied, so it’s important to discuss your situation in detail with your Conveyancer.

Deposit

Once a purchaser has been found and the contract has been signed, then a deposit is usually paid by the purchaser which will be held in the trust account of the selling agent.

Settlement

Settlement (the day that the money is exchanged for the property and keys handed over) is scheduled in accordance with the contract. 

In the lead up to settlement your Conveyancer will liaise with your bank in relation to releasing any mortgage(s) held on the property, and you should arrange for a final reading of your gas and electricity meters, and make any arrangements in relation to your telephone service.  We will advise the Council and Water Authorities of the change of ownership.

Before settlement the purchase price will be adjusted to reflect the council rates, water rates and any Owners Corporation fees that need to be shared between the parties. There may be other adjustments, based on the Contract for Sale.

Once settlement takes place, we will authorise the real estate agent to release the keys to the Purchaser.

Contact us to discuss the sale of your specific property.

If you'd like us to act for you, please complete the Sellers Form