Preparation of

Contract for Sale

Once you’ve made the decision to sell your property you will need to have a Contract of Sale prepared.

A Contract of Sale will enable a real estate agent to market your property for sale, and includes items included or excluded from the sale, timeframe for settlement, legal terms and conditions, prescribed documents and searches along with any other special requirement you may having, ie. conditional on another contract for your purchase or partial release of deposit to use as a deposit for your purchase.

Please discuss your requirements with your conveyancer so they can be included in your contract.

Deposit and Exchange

Once you have accepted an offer by a buyer we will receive a sales advice from the agent with the buyers’ details, purchase price and any special conditions.

We send the buyers conveyancer the final contract for their client to sign. Exchange of contracts happens when you and the buyer have signed the Contract and the buyer has paid a deposit.

Once exchange of contracts takes place we will provide you with the information in the next steps to ensure that you will be ready for settlement. We will liaise with your mortgagee to advise them you have sold your house so they can provide the required documents on settlement.

SETTLEMENT

Settlement is the final stage in the conveyancing transaction. The settlement date is in accordance with the completion date on contract, usually 5 or 6 weeks after contracts exchanged.

We will notify you prior to settlement of the amount payable by the buyer after adjustment of council rates, water rates, water usage and strata levies. In some instances, there may be other adjustments that will need to be made in accordance with the contract for sale.

Settlement can now be conducted electronically with Property Exchange Australia (PEXA). The best feature of e-conveyancing for a seller is that on settlement you receive your sale proceeds as cleared funds into your nominated account.

We will notify you once settlement takes place as well as your agent so they may account to you for any remainder deposit held less their commission.