Fact Sheet 2:
Sale of a Home or Strata Unit
In NSW you are required by law to
have a draft contract available when you house is open for inspection.
We can assist you in preparing the contract. We would need the
following information:
| • | Lot and Deposited Plan (DP) or Strata Plan (SP) number |
| • | Whereabouts of Certificate of Title |
| • | Your Mortgagee’s contact details |
| • | Details of any building work carried out in the last 7 years, and if that work cost more than $12,000.00, a copy of you Home Owner Warranty Insurance Certificate |
| • | An up to date Survey (if available) |
| • | A Council Building Certificate (if available) |
| • | Details of all inclusions with the property, and any fixed items which you wish to exclude from the sale and take with you. |
| • | Your preferred settlement period (normally 6 weeks although this is frequently increased to dove tail in with your purchase where necessary). |
| • | In the case of a Strata property, details of any special levies. |
Once the draft contract has been approved by you, a copy will be forwarded to your listing agents who will hand copies to prospective purchasers.
Ultimately when a purchaser comes forward at a price acceptable to you, your agent will forward us a sales advice and we will complete the front page of the contract with the purchase price and other details and forward it directly to the purchasers representative. We will then arrange for you to sign the original contract in our office and to oversee exchange.
If the property is to be sold by auction we forward the original and counterpart contracts to the agents a few days prior to the auction.
After Exchange
Once contracts have been exchanged we respond
to enquiries from the purchasers solicitor and if the property
is mortgaged, arrange for your mortgagee to prepare a discharge
of mortgage. You will also need to contact your mortgagee to meet
their requirements for the preparation of a discharge of mortgage.
We will attend settlement on your behalf together with your mortgagee (if applicable) and deal with the settlement monies in accordance with your instructions. Following settlement documents are lodged at the Office of Land and Property Information to ensure that the council, relevant water authority, valuer general’s office (and if a strata of community title property, the Owners Corporation) is advised of the change of ownership of the property.
