Selling Property

 

Your Boylan conveyancer will guide you through essential milestones in the sale of your property.

The contract

The land agent will prepare the contract for the sale of the property which will describe the legal terms and conditions of sale, what items are included or excluded from the sale, and any other special requirements. For example, a longer or shorter settlement than usual, or perhaps that the contract be conditional.

The contract will be signed by the buyer first and then by you. After the contract has been signed the land agent will ask you which conveyancer or lawyer you wish to use to register the transfer and handle the settlement. The conveyancer or lawyer then handles the matter for you until it is completed.

 The deposit

Once the contract is signed by the purchaser, it is legally binding. A deposit is usually paid by the purchaser and is usually held in the trust account of the selling agent.

Settlement

Settlement (the day that the money is exchanged for the property and keys handed over) is scheduled in accordance with the contract and is usually 6 weeks after signing contracts. During the wait for settlement your Boylan conveyancer will liaise with your bank about releasing any mortgage held on the property. At this time you should arrange disconnection of electricity and other services.

Before settlement the purchase price will be adjusted to reflect the council rates, water rates and strata fees that need to be shared between the parties. There may be other adjustments, based on the contract for sale.

Once settlement takes place, the land agent will be authorised to release the deposit to you, less their fees.