Things you must know when SELLING a property
Selling Real Estate
The Sale of Land Act requires a vendor (seller) of real estate to provide specific information about the property being sold to a prospective purchaser. This is what is known as a Section 32 Vendor’s Statement.
Low Cost Conveyancing Services can compile a legally binding Contract of Sale incorporating a Section 32 Statement as well as any other such legal documentation required for the Transfer of Title. We will check all necessary financial adjustments, attend settlement on your behalf and co-ordinate the relevant parties to ensure the transaction progresses smoothly.
We have a simple ‘tick and flick’ checklist to enable us to compile an accurate contract and Section 32 Statement.
All that you need to do is to make sure that you return the easy-to-use documentation that we send to you. Important information that you might have, that will assist us in getting the job done more quickly, includes:-
We can purchase documentation that you are unable to provide.
Copies of your Title in your name (and subdivision plans, if applicable), council rates notices and water rates instalments should be provided.
An easement is any area on your property, which is available for access by the water authority, or any other authority.
Does more than one water authority affect your property? Do you have water rights affecting your rural or semi rural property?
If there is a Title for a car space, storage area, rear laneway or anything other than the land being sold, please advise our company.
Construction and Building Permits
If there is any type of dwelling or building construction under seven years of age on the land being sold, or structural modifications or additions to those buildings, you will need to provide a Building Permit, a Final Inspection Certificate and Home Owners Warranty Insurance documentation. You might also need to provide a copy of an Owner Builder’s Defect Report and Owner Builder Insurance documentation. Please advise of any illegal building works that should have been done with a permit
If you are selling a flat, townhouse or estate where an Owners Corporation (formerly known as a Body Corporate) is applicable, you will need to provide details regarding the Owners Corporation Manager, a recent invoice, and minutes from the most recent Owners Corporation AGM.
If you have received any notification from any authority, person or the like about anything that could affect a person’s decision to buy your property, you will need to disclose this information.
Zoning and Overlays
Please advise whether your property has been zoned i.e., as a residential, mixed or commercial zone.
If the property has been tenanted or leased in any form or fashion you will need to advise us.
Do you know if additional levies, such as street or construction levies, are applicable to your property?
If you are selling a commercial property, Goods and Service Tax (GST) might apply. Does this apply to your situation? We know the answer. Call us.
You will need to inform us regarding the presence and availability of various services to the land being sold (e.g. electricity, gas, telephone, water and sewage)
Always advise if you are including any items with the property for sale (e.g. a garden shed, dishwashers, electric light fittings, etc.), and provide a comprehensive list to your agent of what is excluded from the sale.
Please note that the above is not a comprehensive list. Wait until you receive our initial, easy-to-use information.