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Preparing draft contract of
sale
NOTE: A seller cannot advertise a property for sale until the draft contract is prepared. The Seller will need to attach up-to-date copies of all required disclosure
documents. Usually these will include at least a copy of the title, the plan, zoning certificate, and sewerage diagram (and maybe some others, depending on the
property).
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Listing your property with an Agent and signing an agency agreement (unless you are selling the property privately)
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Exchanging Contracts
for the Sale of your property with the Buyer. If you are selling a Unit or Townhouse, this involves making disclosure of various information about the unit and the complex in the Contract of Sale
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Fulfilling any special conditions that
you as the Seller are obliged to do as included in your contract
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Signing the transfer documents that are sent to you from the Buyer.
The Buyer will also send to you Requisitions on title
which is normally a standard set of questions about the
property for you to answer.
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Providing the Buyer with ‘clear title’, that is, free of
any encumbrances (apart from any that you have agreed
with the Buyer not to release eg an easement). This
normally means arranging the payout of any mortgages you
may have on the property and in rare circumstances,
releasing any Writ of Execution or Caveat that may have
been placed on the property by an aggrieved third party.
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Agreeing on the settlement figures and adjustments with the Buyer. This will mean paying any amounts owing on the property such as rates and land tax up to the date of settlement.
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Giving to the Buyer vacant possession of the property after settlement (unless the Contract allows the Seller or a tenant to remain in possession)
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Attending at Settlement to hand over any necessary documents and to collect your cheque· Paying the Agent (if any) commission
