Conveyancing – Selling Property

Selling property can be a stressful process. Our property and conveyancing solicitors will make this process as smooth as possible. We can help you through the entire process starting from the preparation of the contract of sale all the way to the settlement of your matter, where the purchasers take possession of your property.
 
Feel free to contact us on (02) 9521 2222 if you have any questions regarding the conveyancing process. You can also send your enquiry online now and we will contact you shortly.
 
Some of the things you need to consider when selling property are:
 
Contract for Sale of Land
 
In order to start advertising your property on the market, you must have a Contract for Sale of Land. We can prepare this contact for you. There are some standard terms which need to be put into the Contract for Sale, however there may also be some special conditions which may be beneficial to you. If there are any easements or covenants on your property, this will also need to be considered in preparing the contract.
 
It is important to include terms and conditions in the Contract for Sale which will ensure that the sale goes ahead smoothly. A poorly drafted contract may see a purchaser rescind the contract after they have already signed as they have some loophole to get off the contract with. Our conveyancing solicitors will carefully prepare your contract to ensure this does not happen.
 
Often a purchaser will want to negotiate with a vendor about the conditions in the contract. They may want to remove some terms and add new terms that work in their favour. We can negotiate with the purchaser in this regard. We will advise you on how the changes wanted by the purchaser effect you and whether it is in your best interests to comply with their requests.
 
Cooling off Period
 
In NSW purchasers who enter into a Contract to purchase residential property are provided with a 5 business day cooling off period, commencing on the first business day after the date of the Contract. A purchaser can pull out of the Contract for any reason whatsoever during this period, although a purchaser who exercises their cooling off rights and pulls out of the Contract during this period will forfeit what is commonly termed as the ‘holding deposit’, being 0.25% of the purchase price. This holding deposit is usually paid to the real estate agent at the time of signing the Contract and for a property valued at $350,0000.00 amounts to $875.00.
 
If you wish for the cooling off period to be waived, we can arrange for this by preparing a section 66W Certificate. The purchaser will need to consent to this also.
 
There is no cooling off period if you buying at Auction, or sign a contract to purchase a property the same day it went to Auction.
 
Selling Property – Quick Tips
 
1.      It is a legal requirement that prior to advertising any property for sale, a Contract must be available for inspection by any prospective Purchaser.  
 
2.      It is imperative that your Contract is created by a professional who will include all the necessary information, including property searches required by law, in the Contract.  
 
3.      No two properties are the same and it is equally important that the Contract is created in accordance with your wishes as to any inclusions or exclusions in the sale of the property. At Prime Lawyers we listen to you.  
 
4.      A carefully and correctly drafted Contract for Sale will prevent time consuming and costly legal argument that may arise as a result of a poorly drafted contract.  
 
How can Prime Lawyers help you?

The Property and conveyancing solicitors at Prime Lawyers can assist in ensuring that you Contract is drafted in accordance with both legal requirements and your instructions.  We will advise you on optional clauses which you may want to put into the contract that work in your favour. We will also negotiate with the purchaser regarding changes they want made to the contract.

Contact one of our property & conveyancing lawyers today on (02) 9521 2222. You can also send your enquiry online now and we will contact you shortly.

Visit our conveyancing website for more information.


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