Contract preparation and pre-exchange
- Provide us with instructions to prepare a contract for sale of your property. By law, a residential property cannot be offered for sale unless the real estate agent holds a proposed contract for sale.
- Select your real estate agent. We can help you with this process.
- Complete our Instruction Sheet and Cost Agreement and return to our office.
- Order the statutory searches required by law to be contained in your contract for sale.
- Prepare the contract for sale and provide it to your real estate agent to allow the sales marketing process to begin. Depending on your Local Council this can be arranged with in a 48 hour time frame. Remember the Agent cannot legally start to market your property until they receive this Contract.
- Answer any legal queries that prospective buyers and their solicitors might raise in respect of your property
- Negotiate any amendments that prospective buyers and their solicitors might seek to make to the contract for sale for your property Once your agent has found a buyer and you have agreed on a price contracts will be exchanged. Generally this is done with the Agent with a 5 or 10 day cooling off period.
- Sign the contract.
- Sign the Discharge Authority that we provide to you from your Discharging Mortgagee (your bank that holds a mortgage over your property).
- Ensure the contract is ready to be signed.
- Send the contract to you to be signed.
- Send the contract signed by you to the seller’s solicitor to be exchanged.
Post exchange leading up to settlement
(before we settle)
- Start organising to move out of your home (if applicable) including disconnection of electricity, gas and telephone.
- Arrange for any rubbish to be removed at least 48 hours prior to settlement date.
- Arrange for a redirection with your Local Post Office.
- The Purchaser will arrange for a final inspection of the property with the real estate agent for the day before settlement or on the morning of.
- Liaise with lender to ensure they are prepared for settlement.
- Confirm settlement figures and book settlement with your lender and the purchasers conveyance.
- Arrange for you to sign the Transfer before settlement.
- Advise you of the cheque details for settlement. This is the distribution of sale funds.
(the day you move out)
- Organise with the agent a time and place to collect the keys. Ensure the agent has keys to all locks including mailboxes, remote controls for garage doors and alarm codes. This must be done before settlement time.
- Attend settlement and ensure that all funds are handed over on settlement.
- Hand the Loan Funds to your bank and collect the Title Deeds.
- Contact you and the real estate agent to confirm that settlement has taken place.
(after you have moved out)
- Send you a final reporting letter.
- Retain your file for 7 years.