- Have a few real estate agents come and look at your property to give you an estimate of what your property is worth.
- Appoint a real estate agent and decide how you will sell your property (private treaty or auction) and get it ready for sale;
- Check with your mortgagee to get an idea of your loan payout and let them know you are considering selling;
- If you do not have a mortgage, locate your certificate of title as you will need this on settlement.
- Get in touch with your lawyer so they can prepare the contract for sale.
- Provide your lawyer with any relevant information about the property including proof of identity for each registered owner.
- Complete and return relevant forms to your lawyer as early as possible at the start of your transaction;
- You will receive a retainer and an instruction sheet to complete.
- Confirm your identity to ensure that the transaction proceeds accordingly;
- A contract will be prepared with the necessary disclosures and searches based on the industry standard form of contract;
- Send the completed contract and disclosures to your agent for listing.
- Comprehensive letter of advice and contract will be sent to you.
- Once you have found a purchaser the estate agent will help you negotiate on price and special conditions. You will need to make sure you are happy with these before signing the contract.
- Allow access to the property for the purchaser to conduct valuations and pest and building inspections. Your agent will assist in organising this.
- The final contracts will be the one that is signed by each party and exchanged.
- You will be bound by the contract from the date of exchange.
- The purchaser will have a 5 business day cooling off period, unless they decide to waive the cooling off period by giving a s66w certificate
- Receive a sales advice from the estate agent, with all of the particulars including purchase price and any special conditions that have been negotiated.
- We arrange the final contract to be sent to the purchaser’s lawyer.
- Liaise with the purchaser’s lawyer if applicable for any further special conditions.
- Arrange you to sign the contract.
- Attend to exchange of contracts with the other party
- Make sure that you advise your mortgagee on the sale so that they can start preparing discharge documents to be available at settlement.
- Give your lawyer directions as to how you would like the settlement proceeds paid.
- Promptly arrange for transfer and requisitions to be completed and returned to your lawyer.
- Ensure that you continue to take reasonable care of your property up to the time of settlement.
- Be ready to vacate the property and take all of your personal items away before the time of settlement on the settlement date. You must vacate the property for settlement to occur.
- Work with your real estate agent to ensure that all keys are made available for collection from them following settlement.
- Make arrangements regarding utility disconnections (telephone, gas, electricity and foxtel). You should keep the electricity connected until after settlement.
- Communicate with the purchaser’s lawyer and you in relation to (A) All of the necessary documentation for the transfer of the property, (B) Attempt to arrange extensions to conditions if applicable, (C) Directions as to the distribution of settlement funds to you and your mortgagee (D) Arrange settlement time
- Communicate with the real estate agent regarding payment of their commission and the deposit held by them.
- Liaise with your mortgagee* to make arrangements for settlement;
- Review the settlement adjustments for rates, water,
- Verify that the documents required for settlement are complete and available;
- Provide a settlement statement to you. This can sometimes be as late as the day of settlement.
- Finalise any arrangements relating to the property that you are selling and leave it in a reasonable condition.
- Ensure that you have completely removed your belongings and left the property prior to the time of settlement.
- Make sure you are contactable for any late queries that might be needed.
- Wait for our call confirming that settlement has occurred.
- Prepare and send you final letter of advice confirming the details of the settlement;
- Notify relevant organisations that you are no longer the owner of the property (however they will require confirmation of the transfer from the Land Registry before they record the change);
- Assist you with any short term follow up of rate notices that may be sent to you before the ownership change is recorded.
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