Tips for Sellers
Things are changing in your life and it’s time to sell your property. Whether you are realising an investment, getting a home that will fit your growing family, or downsizing for a simpler life you want a smooth sale!
Here are some things to think about.
How much do you owe?
Contact your bank and obtain an estimated loan payout figure. Account for settlement fees, outstanding council rates & water rates and the cost of removing any caveats on your property. The proceeds of your sale will need to cover all these expenses. If you don’t have enough funds, you will need to discuss this with your settlement agent and bank.
Contactability
If you are overseas or unavailable at any time between accepting your offer and settlement - Let your settlement agent know! We can ensure your documents and funds transfers are managed so settlement can still occur on time.
DOCUMENTATION
Keep your identity documents available while packing. It is a legal requirement that your identity is verified by your settlement agent.
Use your Time wisely
Use the time between the acceptance of your offer and settlement to make sure all the items covered by your sellers warranty (eg electrical, plumbing, gas, reticulation etc) are in good working order for the final inspection. This will avoid last minute disputes and rushing to get quotes.
Completing the Offer and Acceptance. Things to think about when considering your offer.
Be Honest
Make sure you tell the buyers about any items that aren’t working and list them as a condition on the contract, otherwise the buyers may insist on it being repaired at settlement.
BUILDING AND TIMBER PEST INSPECTIONS
You may choose to do a structural inspection PRIOR to putting your house on the market so you can be aware of potential defects and attend to them with your choice of tradesperson.
CHATTELS
If there are fixtures, built in appliances, garden ornaments, pots etc that you are taking with you when you move out, make sure you list them here to avoid conflict at settlement.
SPECIAL CONDITIONS
Each of these will consist of four components so as not to be ambiguous. They must clearly state: 1) What is to be done 2) Who is to do it 3) When is it to be done by 4) What happens if the condition isn't satisfied.
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At Concord Conveyancing we are happy to discuss your Offer & Acceptance and answer your questions before you make it. Give us a call to chat!
Let's Work Together!
Tell us about your upcoming property deal and we'll send you a quote outlining all the costs you are likely to encounter
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