Sellers Hints

So that you do not incur penalties when selling a property:

1. Allow yourself plenty of time

 

This is an important life event so allow yourself sufficient time to find yourself another place to live. It is also important to allocate enough time to organize your discharge of mortgage. Fulfilling these commitments can be very time consuming.

2. Discharge of Mortgage

 

A Discharge of Mortgage Authority needs to be signed and given to your bank to enable them to clear your debt. They require at least 28 days from receipt of the signed authority to perform this process so allow sufficient time from when your contract becomes unconditional.


3. Fixed items to be included

 

Any items fixed to the property such as a TV aerial, air conditioner, dishwasher, curtains etc cannot be removed from the property unless stated on the Offer and Acceptance. Check the Offer and Acceptance contract carefully and leave behind everything that is clearly noted in writing on the contract.


4. Your obligations

 

Understand clearly your obligations, because if a condition is not fulfilled it will definitely delay your settlement. Note in writing on the contract if any household items are not working and you will not be fixing it prior to settlement.

5. Provide your settlement agent with current contact information

 

It is important that your conveyancer can keep you informed and seek your advice if anything unusual develops that might delay your settlement. Remember to provide contact information for any temporary changes of address, workplace, holiday plans or working away.


6. Payment of rates

 

If you have received a rate notice, advise your settlement agent before paying it.

Special Conditions

 

If there are any special conditions on the Offer and Acceptance contract which you as the seller are required to satisfy, you must arrange to take whatever steps necessary to make sure that they are satisfied by the date required in the contract.

Certificate of Title

 

If the property is currently mortgaged, your bank or financial institution will hold the duplicate Certificate of Title. If you hold the Certificate of Title yourself, we will require you forward or deliver the Title to our office prior to settlement. Please note that if you are posting your Certificate of Title, to use Registered Post for security reasons.

Once received, we will issue you with a receipt for the Title and it will be held by us and handed to the buyer's representative at settlement.