Once you’ve decided to sell your property, you don’t want to be worrying about the legal obligations that go along with selling property. Don’t worry – that’s what we look after.
What are some of the things that we cover in our conveyancing services for property sellers?
- Preparing the Contract. Before you can put your property on the market, you must have a Contract for Sale of Land (ie, applies to residential property only). By law, the contract must contain specific information and documents otherwise buyers can pullout without consequence. We make sure your contract complies with the law, and the terms and conditions meet your specific requirements. It’s your contract, and so you control the process.
- Contract Negotiations. Once you’ve found a buyer, it’s possible that the buyer or the buyer’s lawyer will have questions about the contract or attempt to negotiate the terms and conditions of the contract. Don’t worry. We handle all of that on your behalf.
- Contract Exchange. Entering into the Contract for Sale of Land generally means you sign your version of the contract, the buyer signs their own version of the contract. The two versions of the contract (known as ‘counterparts’) becomes the legally binding contract when we swap your version with the buyer’s version (ie, the exchange). Sometimes you’d do this with the real estate agent directly, sometimes it happens through us and the buyer’s lawyers.
- Cooling Off Period. There’s a statutory ‘cooling off period’ of 5 business days if you’re selling residential property in New South Wales. It doesn’t apply if you’re selling by auction or if the buyer’s lawyer provides us with a certificate stating that the buyer waives their cooling off rights. If you require the property to be sold without cooling off period, we’ll insist on the certificate from the buyer’s lawyer.
- Post-Contract Assistance. After you’ve sold your property and entered into the Contract for Sale of Land, we make arrangements to satisfy your legal obligations – depending on the nature of the property that you’re selling (ie, paying all rates and taxes either before or on settlement). The time between entering the contract and settlement should also give you time to make arrangements to discharge your mortgage if you have a loan.
- Tax Complicance Obligations. Depending on the property that you’re selling, there can be a number of obligations imposed on you by law – namely, GST, CGT and Land Tax. Sounds complicated? It is. That’s why we handle that for you as part of your settlement as well.
- Pre-Settlement Finance Calculations. Of course money is the most important part of your transaction. We ensure that the settlement calculations are correct and that you’ll be receiving the right amount on settlement. We also make sure that your loan, rates and other taxes are paid on settlement so that you don’t have any lingering liabilities or exposure.
- Settlement and Registration. Whether your transaction will be settled electronically through PEXA or traditionally with a physical settlement, we look after everything for you. We coordinate with the buyer and the buyer’s lawyer as well as your bank (if you have one) to complete the settlement and clear your loan.
Quote for Selling Property
We offer fixed-fee conveyancing services in most transactions. The information that you provide here will assist us in accurately understand your requirements and scope the work necessary to achieve your intended goals and to satisfy your expectations.