MENU
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 for the purchaser
Exchange
• You approve and sign the contract. Then this firm exchanges 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 organize to discharge any mortgage over the property and obtain the title deed.
• You will need to ensure that the property is vacant before settlement.
• Just prior to settlement you give the keys either to the agent to give to the purchaser or to this firm to hand over at 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.
