Selling property

Preparing the contract of sale and the Section 32 vendor’s statement is your first step to selling property. 

It is extremely important that these documents are drafted correctly.

We will prepare these for you.

We can assist you with drafting documents for the following sales:
 Vacant land
 New or existing houses
 Units, flats and apartments
 Off the plan sales (townhouses, houses or units)
 Commercial properties, including shops, caravan parks and restaurants 
Industrial sites, including farms, abattoirs and warehouses 

We will keep tabs on all important dates, including when the initial deposit is due, when subject to finance expires, when special conditions are to be satisfied and the sale settlement date. 

Discharge of mortgage

It is essential that you notify your bank that you have sold your property.

If you have a mortgage, your bank holds the certificate of title.

Your bank may require up to 14 days notice to release the title.

Without the discharge of mortgage you face the possibility of delaying settlement.

As part of the discharge of mortgage application, include
 Your loan account details.
 Details of the property (including Volume and Folio number) you anticipate to discharge.
 Account details where surplus funds will be deposited.
  A completed discharge form specific to your bank’s requirements.

Section 27 deposit release

We will contact your bank to obtain information, such as your loan amount and interest rate, to prepare the Section 27 statement.

This document enables you to access your buyer’s deposit before settlement.

We will prepare the Section 27 statement and serve it on the buyer.

Information required to complete the Section 27 statement:
 Details of the lender
 Your loan amount
Amount required to discharge the mortgage
The interest rate payable on your loan
 Your interest repayment date

Settlement date

The settlement date is the day the seller releases ownership of the property.

This date will generally be specified in the contract of sale.

 A suitable time will be arranged with all parties involved to finalise settlement.

Our office will arrange an agent to attend settlement on your behalf.

The seller sets the date of settlement in the contract of sale.
Settlement usually takes place between 30 to 90 days after signing the contract of sale.
 The buyer pays the balance of the purchase price on settlement date.
At settlement, the buyer receives the property title and becomes the registered owner.
All outgoings such as council rates, water rates and land tax will be adjusted for.

Once settlement is complete, all funds will be released to you or your bank.