Do I really need a solicitor to sell my house?
Our home is usually our most important asset. Making a mistake or misunderstanding your legal obligations could have a significant impact on your finances and lifestyle.
A solicitor has the expertise and education that will help make sure your sale goes the way you intend. Once an offer is made, it’s likely that any buyer will want to negotiate terms and conditions before they agree to buy. When that happens it’s also important you have someone advising you on what’s in your best interests.
Contact us for full information in regards to selling a home including information such as:
> preparing the contract for sale
> what laws you’ll need to comply with
> how the conveyancing process works
Preparation of Contract for Sale
So you’ve made the decision to sell your property. This means you will need to have a Contract of Sale prepared.
The Contract of Sale will allow your chosen Real Estate Agent to market your property for sale. It includes a list items included or excluded from the sale, timeframe for settlement, legal terms & conditions, searches along with any other special conditions that may be required. Please discuss your special requirements with our Solicitor so they can be included in your contract.
Deposit & Exchange
Once you have accepted an offer by a Purchaser we receive a sales advice from the Agent with their details, purchase price and any special conditions. We then send the Purchaser’s representative a draft contract for their client’s approval and signature.
Exchange of contracts occurs when you and the Purchaser have signed the Contract and the Purchaser has paid the deposit, usually to the Real Estate Agent. Once contracts have exchanged we will liaise with your mortgagee (if any) to advise them you have sold your house so they can prepare to discharge their Mortgage.
Settlement is the last step in a conveyancing transaction. The settlement date is prescribed on the front page of the contract and is usually 35 – 42 days, or 5 or 6 weeks after contracts exchange.
We will notify you prior to settlement of the amount payable by the Purchaser after adjustment of council rates, water rates & usage. In some transactions, there may be other adjustments that will be made in accordance with the contract.
Settlements are now conducted online via PEXA. The best feature of online conveyancing for you is that on settlement you should receive the sale proceeds as cleared funds into your nominated account on the same day. This is achieved by working with the Reserve Bank of Australia to ensure funds are available as soon as possible.
We will notify you and your agent, so they can account for you the deposit less commission, once settlement takes place.
Looking to buy?
Visit our dedicated Buying Process page to get more information about the steps involved in buying a new property.
Contact Us to discuss the sale of your property and to speak to one of our experienced team members.
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