The Sale Process for vendors

Before selling your property you must have a Contract for Sale prepared for advertising by an agent or yourself.

We prepare the Contract and order the necessary statutory certificates which must be attached to the Contract.

Exchange of Contracts

Once a purchaser has been engaged and all negotiations have been agreed by both vendor and purchaser, it is then time to have the deposit paid and the Contracts are signed by both parties and both dated. The Contracts are now exchanged and legally bound.

Cooling Off Period

The purchaser is entitled to a 5 business day cooling off period and can withdraw from the Contract within this time. If they do withdraw they lose 0.25% of the deposit to the vendor.
There is no cooling off period available for a purchaser at an auction.

Arranging Settlement

If you have a mortgage we arrange for your bank to prepare a Discharge of Mortgage in readiness for settlement and to payout your debt.
You should make enquiries to arrange a removalist, arrange disconnections of electricity, gas and telephone and arrange redirection of your mail.
We adjust the council rates, water rates, strata levies if it is a unit up to the date of settlement.
The purchaser is entitled to a final inspection of the property either a couple of days before settlement or on the morning of settlement. If the property is not in good order or if there is some damage then settlement can be delayed.
You must keep the property insured until after settlement as you are still responsible for any damage to the property until after settlement has taken place.

At Settlement

On the day of settlement usually the property is vacant and the keys are held by the agent.
Your loan is paid out to the bank if you have a mortgage. Any surplus funds can be deposited into your nominated account and you arrange for the balance of the deposit to be paid to you from the agent after deduction of their commission.  All settlement money is by bank cheques there are no ETF transactions available. You can then cancel your insurance and arrange any refund of the premium due to you.

After Settlement

We notify the following departments that your sale has now settled they include the agent, the Council, the Water Board, Land Titles Office and other statutory authorities which are applicable to your sale.