The sale of real estate can mean many things – a major relocation, the realisation of your most valuable asset, even a new job. The time between finding a buyer for your property and moving out can be an anxious and stressful one.
Our aim is to take away from you as much of that stress as we can. You have enough to worry about- leave the transfer of your property to us.
Where do I start?
Selecting an Agent
The first step in the process of selling a property is to select a real estate agent to act on your behalf. It is a good idea to have a few agents visit your property and give you an estimate of its value. In deciding which agent to select, think about things like:
- have they been recommended by people whose opinion you trust?
- do you need an agent who specialises in your particular type of property (e.g. rural or commercial?)
- what marketing strategy does the agent use? Are you comfortable with that?
- do you think you will have enough rapport to be able to work with the agent
- does the price the agent is suggesting seem realistic?
Appointing the Agent
The agent must have you sign an authority form before they commence marketing your property. Read it carefully and discuss the agent’s commission and expenses first.
Putting the property on the market
When you have selected an agent you will need to discuss with them the most appropriate method for selling your property, particularly whether to hold an auction or just proceed as a private sale. Either way, it is important that as soon as a buyer is found, all the paperwork is in place to have a contract signed as quickly as possible.
What paperwork do I need?
Before any property can be sold in Victoria, a signed Vendor’s Statement (also known as a “Section 32 Statement”) must be given to the purchaser. We will prepare this for you. We will discuss in detail with you what information is required, but it will be helpful if you have the following documents available:
- a copy of your title
- your current rates notice
- your most recent water account
- copies of any building permits and associated certificates of final inspection or certificate of occupancy issued within the last seven years
- any notices from any government department or local council ordering you to undertake works or pay fees or taxes in relation to the property
Extra requirements may apply if, for example, you have undertaken building work as an owner-builder or if you are selling a commercial property which may be subject to GST. We will let you know if any of these things apply to your situation and work with you and your accountant or other professionals to ensure all these matters are properly dealt with.
You should speak to us about arranging all these matters as soon as you decide to list your property on the market so that we can work with your chosen agent to give you the best chance of a quick successful sale.
We will handle all the legal aspects of your property transfer for you, including:
- preparation of your Vendor’s Statement and the Contract of Sale
- answering any technical enquiries which come from the purchasers
- checking all documents prepared by the purchasers for the transfer before you sign them
- liaising with your bank to ensure your mortgage is discharged at settlement
- dealing with any legal problems which may arise with the transaction
- checking the purchaser’s calculations of any adjustments to the sale price
- arrangement of and attendance at settlement on your behalf
We see it as imperative that, given the significance of the transaction you are undertaking, you should have your will up to date. We can also recommend you to other professionals, on a no obligation basis, to discuss matters such as life insurance and income protection insurance.
Contact us to arrange an appointment