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Sellers Guide

What is a contract of sale?

A contract of sale is a legally binding agreement between a seller and a buyer. It details the terms and conditions in which a seller agrees to transfer ownership of a property to a buyer. The contract is the core of protecting your rights as a vendor, which is why it’s advised that an experienced lawyer prepares this documentation.

What will a conveyancer do?

A conveyancer is qualified professional who specialises in the legal procedures of buying and selling property.

They will:

  • Provide expert information and advice about the purchase of your property
  • Prepare or review legal documentation for property transactions
  • Ensure their clients are legally protected throughout the process, from sale to settlement.

What are my obligations as a seller?

  • To prepare a contract for sale of the property that complies with the relevant legal requirements and contains all necessary disclosures
  • To advertise the property for sale in a manner which is not misleading
  • To ensure that the property has the benefit of all legally required certificates and authorisations, such as a pool certificate of compliance where the property has a pool or spa

How long is the average settlement?

The average settlement is 42 days, although this can change by agreement between the seller and the buyer.

Am I obliged to maintain my property before settlement?

Generally, you are required to maintain the property in the same condition that it was in at the date of the sale, subject to fair wear and tear.

Is the buyer allowed to inspect the property before settlement?

Generally, the buyer is permitted to inspect the property on the day of completion, so as to ensure the property is in the condition required by the contract.

Give us a call

Our team would be happy to answer any of your questions and/or provide you with further information about our services.