• Selling a Property •
Once you decide to sell your property, we organise a meeting with you (office or telephone) to collect details for your file, clarify the procedure involved and take particulars of the property you wish to sell.
We send you our Service and Cost Agreement, which outlines costs, procedure and our commitment to you in the way of ‘expert advice and great service’ as well as your authority for us to act on your behalf. We ask that you sign this and return it to our office ASAP.
We also ask for an initial advance of $200.00, to be deposited into our Trust Account, to cover the cost of disbursements that we order early in your matter on your behalf. This amount is deducted from your invoice total on settlement.
The disbursements we obtain include the following:
- Section 149(2) Zoning Certificate from Council.
- Vendor Disclosure Title Search from the Land and Property Information Office.
- Sewer Diagram from the Hunter Water Corporation.
On receipt of these certificates, the Contract for Sale is prepared. A copy is forwarded to your real estate agent to enable them to place the property on the market for sale.
Once a buyer has been found, the real estate agent will fax us a Sales Advice.
At this stage the purchaser may elect to have pest and building reports on the property.
We complete the Contract for Sale in accordance with the Sales Advice instructions and the counterpart is forwarded to the purchaser’s solicitor. You are then asked to attend our office to sign the original Contract.
The purchaser’s solicitor will forward to us the counterpart Contract for Sale, signed by the purchaser to initiate Exchange. Each Contract is checked to make sure they are identical. Contracts are then exchanged and dated on that day.
The purchaser is entitled to a five (5) day cooling off period from the date of exchange, unless a Section 66W Certificate is completed which waives the ‘cooling off’ period. The purchaser may rescind the Contract during the ‘cooling off’ period but a penalty of 0.25% of the purchase price is payable to you the vendor.
If required, we send a request to Discharge your Mortgage to your mortgagee (Bank, Building Society or Credit Union).
The purchaser’s solicitor will forward to us the Requisitions on Title which are questions related to the property. We then forward these to you for answering.
The Transfer is received from the purchaser’s solicitor and you are requested to attend our office to sign it.
Settlement figures are prepared by the purchaser’s solicitor and forwarded to us for approval.
A payout figure, which is the balance owed on your loan from the outgoing mortgagee, is requested for payment on the date of settlement.
Cheque details are given to the purchaser’s solicitor. The time and place of settlement is organised and settlement takes place. We attend settlement on your behalf and contact you once completed.
From the proceeds of settlement your Mortgage, if any, is paid out to the outgoing mortgagee, any outstanding rates are paid as well as our Tax Invoice. The balance, if any, is then forwarded to you with a Settlement Statement detailing all payments and receipts.
A letter is faxed to the real estate agent confirming settlement. They will then deduct their commission from the deposit held and forward the balance to you.
We then send you a client questionnaire to see if we provided the ‘expert advice and great service’ you require as your feedback is very important to us.
If you would like us to assist you, or you require further information,
call us on 02 4969 1800 to make an appointment.