Selling property can be an exciting and rewarding experience, but it can also be a little daunting if you’re not familiar with the process. From preparing your property for sale to dealing with legal paperwork and coordinating the final settlement, the journey can seem overwhelming. That’s where a professional conveyancer comes in to make sure everything runs smoothly.
Luckily for you, we’ve created this handy checklist to guide you through the essential steps of selling your property, so you can approach the process with confidence.
Before you list your property, it’s important to make sure it’s in top condition for prospective buyers. This includes:
Cleaning and Repairs: Ensure your property is well-presented, clean, and free of any minor repairs. First impressions are crucial!
Declutter and Depersonalise: Remove personal items that may distract buyers and make the space feel more neutral.
Home Staging: Consider staging your home to highlight its best features. You can also enlist a professional to make it more appealing.
Documentation: Ensure you have access to all necessary documents for the property, such as warranties, permits, and maintenance records.
As soon as you decide to sell your property, it’s time to engage a professional conveyancer to handle the legal side of things. Your conveyancer will:
Prepare the Vendor’s Statement (Section 32): This document includes important details about your property that buyers need to know, such as title details, zoning, and any restrictions.
Review the Contract of Sale: Your conveyancer will ensure that the Contract of Sale is legally sound and includes all necessary terms and conditions.
Verify Ownership: They’ll confirm that you legally own the property and have the right to sell it.
Decide how you want to sell your property. You can sell via:
- Private Treaty: Where you and the buyer negotiate a price.
- Auction: A more public approach where buyers bid for the property.
- Expressions of Interest: This is an alternative method, where buyers submit offers, and you decide on a price.
Each method has its pros and cons, so speak with your agent and conveyancer to determine what suits you best.
Your real estate agent will assist with pricing your property accurately based on comparable sales in your area. Setting a competitive price can make a big difference in attracting the right buyers.
Once you start receiving offers, your agent will guide you in reviewing and negotiating the best deal. If you’re selling via auction, it’s important to have a reserve price in mind.
Once you accept an offer, your conveyancer will make sure the Contract of Sale is signed by both you and the buyer. They’ll also ensure the conditions of the contract are clear and that both parties are meeting their obligations.
As the settlement day approaches, your conveyancer will take care of the final details, including:
Confirming the Sale Conditions: Ensure any conditions (such as repairs or inclusions) have been met.
Coordinate Payment and Transfer of Title: Your conveyancer will work with the buyer’s legal team to ensure payment is transferred and the title is transferred into the buyer’s name.
Paying Off Outstanding Mortgages: If you have a mortgage, your conveyancer will handle the payment to the bank and ensure any remaining funds are passed to you.
On the day of settlement, your conveyancer will ensure all funds are transferred, the property title is officially handed over to the buyer, and any necessary documents are lodged with the authorities. Once everything is settled, you can officially hand over the keys to the new owner.
It’s important to inform relevant parties, including:
Utility Companies: Ensure that your electricity, gas, water, and other utilities are transferred or disconnected.
Local Council: Notify your local council of the property sale.
Insurance Companies: Update your insurance provider to reflect the sale of the property.
Selling property involves a lot of legal and administrative work, and mistakes can be costly. By working with a qualified conveyancer, you can rest assured that all legal obligations are met, deadlines are met, and the transfer of ownership is handled smoothly.
At Shepparton Conveyancing Services, our experienced team is here to guide you through every step of the selling process. We’ll make sure everything is in order so you can focus on the next chapter of your journey. Whether it’s your first time selling or you’re a seasoned pro, we’re here to help.
Contact Shepparton Conveyancing Services today and let us help you navigate the selling process with ease.