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YOUR PROPOSED SALE - THE PROCESS OF SELLING A PROPERTY
You are interested in selling your property. The steps that you are likely to follow will
typically be:
Before exchange of contracts
- You decide to sell your property. Contact us to prepare a contract for sale of your property. You will need to tell us the lot and plan details of your property. These details may be found on your Council rates notice.
- You may tidy the property up.
- Our conveyancing solicitors will prepare the contract for sale of land. A real estate agent is not legally allowed to show a property for sale without a contract for sale of land.
- You may find a real estate agent to sell your property. If you use an agent, the agent gives you a sales agency agreement.
- The agent finds a purchaser;
- Typically, if you are selling a house, the purchaser will obtain a pest and building inspection and may obtain other inspections. Alternatively if you are selling a strata
property then the purchaser may order a strata report.
- Negotiate the sale price with the purchaser (usually through the agent);
- This firm, will on your instructions, negotiate the terms of the contract with the solicitor or conveyancer for the purchaser;
Exchange
- You approve and sign the contract. Then this firm arranges exchange of contracts for you. It is at this point that the purchaser pays the deposit to the stakeholder;
Post exchange and Pre settlement
- You will contact your lender to give authority to arrange a discharge of any mortgage you have given over the property, if you have a mortgage.
- This firm will make arrangements for you to discharge any mortgage over the property.
- You will need to ensure that the property is vacant before settlement.
- Just prior to settlement you give the keys to the agent to hand over at or after settlement.
Settlement
- On or shortly before the day of settlement the purchaser will usually carry out a final inspection of the property and through their solicitor notify this firm if there are any issues to be
resolved, if any, such as the property is not vacant;
- This firm attends settlement. This is when you receive the proceeds of sale and pay out any mortgage over the property.
- A letter of authority is sent to the agent to release the deposit to you and to hand the keys to the purchaser.
These steps are a simplistic summary of the general steps for selling a property.
If you would like further
information specific to your situation contact us on 9232 0050 or
email us at lawyer@conveylaw.com.au, as we would like to assist you further.
Our conveyancing solicitors will look after all steps to strive to ensure a smooth transaction for you.
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Our mission is to provide you with the best service.
Contact us to see how we can help you
Phone: 9232 0050
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