Before you can start advertising your property for sale, you must have a complete Contract for Sale of Land prepared and available for marketing purposes and potential purchasers.
You will require a complete Contract for Sale of Land whether you are selling your property with or without a Real Estate Agent.
Upon us taking detailed instructions from you to prepare a Contract for Sale of Land, we will promptly obtain all necessary documentation and ensure that the Contract is carefully prepared and forwarded to you or your nominated Real Estate Agent without delay.
Once you have accepted an offer, Contracts will shortly thereafter be exchanged with or without a cooling off period.
Exchange occurs when the seller has signed the original Contract for Sale and the buyer has signed an identical copy. Contracts will then be compared to ensure they are identical and physically or electronically (exchanged) and the front page of each Contract will be dated. The Completion date will run from the Contract date.
Contracts may be exchanged with or without a cooling off period.
The standard Contract provides for a five (5) business day cooling off period. It is important to keep in mind that the cooling off period is for the purchaser only. So before signing the Contract you must be completely satisfied with the price you have accepted and the terms of the Contract. If the purchaser withdraws from the Contract during the cooling off period, the purchaser will forfeit to you 0.25% of the purchase price. If the purchaser does not withdraw, then the purchaser will be bound to complete the contract.
The cooling off period may be waived if the purchaser’s conveyancer provides on or before exchange a certificate known as a Section 66W Certificate. In this case the purchaser is immediately bound to the Contract on exchange.
The Contract is usually completed 42 days from the date of exchange. However, this can be amended to cater for your personal circumstances. When calculating the completion date include weekends and public holidays. If the 42nd day falls on a weekend or public holiday, completion will take place on the following business day.
We will happily keep you and your Real Estate Agent informed of the progress of your transaction.
Feel free to contact us with any enquiries you may have about selling your home or investment property.
We here to assist you and talk you through the process of a Sale transaction.