One of the first things you should do when selling a property is engage a licensed conveyancer. You will find that once you appoint a real estate agent, the agent will require a Section 32 Vendor Statement. The real estate agent cannot take any legally binding offers without first providing the buyer with a Section 32 Vendor Statement. A conveyancer will prepare this document (and often the Contract as well) on your behalf.
Your conveyancer will ask you questions about your property in order that the appropriate information be disclosed in the Section 32 Vendor Statement to ensure any Contract signed is water tight and binding on a buyer.
What else will your conveyancer do? Once Contracts are exchanged, there are a number of things that must be undertaken to ensure final registration of the property title into your name. These include:
- Assisting in the exchange of Contracts if necessary, although this is usually the role of the real estate agent
- Liaising with your bank or lender, the buyer’s conveyancer AND YOU of course, including providing all necessary information and documentation to the buyer, assisting you to have your mortgage lifted, arranging for the deposit to be released to you if appropriate and arranging and completing final settlement
The types of properties you might sell:
- House and Land
- Land Only
- Strata Title or Subdivision Unit
- Stratum Title or Company Share Unit