Once you’ve made the decision to sell your property, one of the first tasks is to have the Contract for Sale of Land drawn up.
The contract will include not only the legal terms and conditions of sale but will also specify what items are included or excluded and any other special requirements you might require.
There are a lot of ways that a contract can be varied, so it’s important to discuss your situation in detail with us to ensure your instructions are followed.
You also need to know your disclosure responsibilities, as failing to disclose certain things can lead you issues which may affect settlement.
Once a purchaser has been found and the contract has been negotiated and signed the deposit is paid, then we can proceed to exchanged. the contract is then legally binding. the deposit will be held by the agent in their trust account and released to you after settlement.
Settlement is negotiated and scheduled in accordance with the terms of the contract. During the wait for settlement we will will liaise with your bank in relation to releasing any mortgage held on the property. In this time you should arrange disconnection of electricity and other services.
Before settlement the purchase price will be adjusted to reflect the adjustment for council rates, water rates and strata fees that need to be shared between the parties. There may be other adjustments, based on the Contract for Sale.
Once settlement takes place, the real estate agent will be authorised to release the deposit to you, less their fees.
Call us to discuss the sale of your specific property.