Selling a Property

So, you have decided to sell your property? There are many decisions for you to make and we have simplified the process for you by setting out a set by step guide.

CONTACT US TO PREPARE A CONTRACT FOR SALE
Legally you are required to have a contract for sale fully prepared prior to commencing marketing of the property. We can prepare the contract for sale on your behalf and once complete we forward to the real estate agent to enable them to commence the marketing of the property.

CHOOSE A REAL ESTATE AGENT
We suggest that you find an agent that you feel can work with you throughout the marketing campaigns and negotiations and we will liaise with them to ensure a smooth and stressfree transaction.

PREPARE YOUR PROPERTY FOR SALE
Once the real estate agent has been appointed they will arrange a marketing campaign and for your home to be open for inspection. Your real estate agent will work with you and advise you on the best way to present your property for sale.

ACCEPT AN OFFER
Once a purchaser is serious about buying your property they will commence negotiations on purchase price with your real estate agent. Your agent will contact you with all offers and you will have the opportunity to accept the offer presented.

SIGN THE CONTRACT
Once the purchaser’s offer has been accepted you will be required to sign the contract for sale. Signing the contract for sale is not legally binding. A legally binding relationship exists once the contracts have been exchanged. By signing the contract you will be in a position to exchange contracts once the purchaser is in a position to do so.

SELL AT AUCTION
If you choose to sell your property at auction, there is no cooling off period at the fall of the hammer. You will sign the original contract and the purchaser signs the counterpart contract for sale. The purchaser pays the agreed deposit and the real estate agent will effect exchange immediately. The contract signed by you will be forwarded to the purchaser’s conveyancer and the contract signed by the purchaser will be forwarded to us.

EXCHANGE OF CONTRACTS
Once we have the contract signed we will arrange for an exchange of contracts to take place. The purchaser signs a separate contract. An exchange of contracts is when the conveyancers or real estate agent ensures that the contracts are identical by checking the contracts page by page. Once satisfied that the contract is identical it will then be dated. The deposit is required at this time. Once the contract is dated both you and the purchaser will be bound to complete (subject to any cooling off rights). You do not have the benefit of a cooling off period.

EXCHANGING WITH A COOLING OFF PERIOD
If you agree to exchange contracts with a 5 business day cooling off period the buyer has 5 business days to “cool off” and walk away from the deal. They will forfeit 0.25% of the purchase price to you. You are not entitled to exercise cooling off rights, it is for the purchaser’s benefit solely.

ARRANGE DISCHARGE OF YOUR MORTGAGE
Once the contract exchanges you will need to arrange to pay out the balance of your mortgage when settlement takes place.

PROVIDE VACANT POSSESSION
If you have sold your property with vacant possession, meaning that you intend to leave the property empty, you will need to ensure that all personal belongings are removed from the property prior to settlement. All items that are marked on the contract for sale as inclusions must remain at the property. An inclusion is an item that you have specified to be part of the sale.

If you have agreed to provide the purchaser with vacant possession and your tenant has not vacated the property by the settlement date, then your purchaser is entitled to delay settlement until your have fulfilled your obligations to provide a vacant property.

SIGNING THE TRANSFER
We will have you sign a Transfer form to enable the property to transfer from your name to the purchaser’s name once settlement takes place.

SELLING WITH A TENANT
If you have sold your property subject to tenancies then you need to make sure that the real estate agent who manages the tenant has the rent paid up to date and that you have fulfilled your obligations under the lease. We will hand a notice to the purchaser’s solicitor or conveyancer on settlement to ensure that all future rents are paid to the purchaser.

SETTLEMENT
We will ensure that you have reviewed and approved all final calculations prior to settlement taking place. You will also need to advise us of the payee of the bank cheque and the account details of the payee. We will notify you as soon as settlement takes place.

For answers to more questions click on FAQ’s and you will be sure to find what you are looking for or you can contact us directly!