Prepare Your Home for Sale: Conveyancing Lawyer Central Coast
Property Sale Document Preparation
Contract Review & Guidance
Legal Support for Sellers
Attract Your Buyer
If you are planning to sell your home, it’s a good idea to seek conveyancing assistance to ensure your best interests are protected when a sale is made. At GMS Legal & Conveyancing, our team comprising our lawyer and conveyancers are able to review paperwork and help you understand all terms of the contract.
Servicing clients across the Central Coast, Lake Macquarie and Toukley, we have helped settle countless property sales since 1988. Selling or purchasing a new home is an exciting time, but often the overwhelming amount of paperwork can cause the whole process to become highly stressful – that’s why we’re here to help!
How Can I Get the Best Price for My Home
In NSW, a residential property cannot be advertised for sale until a contract of sale has been prepared. It’s highly recommended to consult a solicitor to clarify the terms within the contract that would be provided to your buyer. This can include the inclusion of any fixtures or fittings within the house, your obligations to existing tenants, any alterations you’ve made to the property and any other special terms you want included.
As the seller, you must also comply with the Vendor Disclosure Requirement, which requires you to supply documents including:
- Zoning certificate
- Drainage diagram
- Copy of the certificate of title as ownership proof
- Copy of any documents creating easements, rights of way, restrictions or covenants
Other Useful Information
It’s also important that when you do receive an offer that you plan to accept, the contract is reviewed again by your solicitor. If you still owe money on the property you’re selling, your solicitor can also talk to your financial institution to discuss how much you need to pay to discharge the mortgage.
The role of your solicitor is to always have your best interests at heart, gathering all the required paperwork and making sure the sale proceeds as smoothly as possible. The team from GMS Legal & Conveyancing is here to take away any stress that comes with selling your property.
Preparing Your Home for Sale
After the contract and paperwork has been sorted, your real estate agent will begin to advertise your property. This typically includes weekly open house sessions, where potential buyers can walk through your property and see the area in person. It’s important that you choose a property agent that you can trust, as it’s their job to negotiate for the best possible selling price.
Make sure to clean your home prior to inspections. This can include mowing the lawn, removing weeds in the garden, taking out the trash and vacuuming the floors. Presenting a clean home can make a world of difference on the impression your property makes. So, take the time to clean your floors and windows so you can present your home at its best.
If you still have question regarding your responsibilities as a seller, give us a call today for more information. We’re more than happy to walk you through the process step-by-step at our Toukley office. You can also read more on the best tips and advice on selling your property on our blog and resources page.
Frequently Asked Questions
What legal documents are needed to sell a property?
When selling a property, several legal documents must be prepared and reviewed to ensure compliance with regulations. The most important document is the Contract of Sale, which outlines the terms of the transaction, including the purchase price, deposit amount, settlement date, and any special conditions. Sellers must also provide a Vendor’s Disclosure Statement, which includes relevant certificates such as a Title Search, Zoning Certificate, Drainage Diagram, and any applicable Building or Pest Reports. In some cases, documents related to renovations, warranties, or council approvals may also be required. Legal requirements vary by state, so it is essential to check with a legal professional to confirm which documents are necessary before listing the property.
What are the typical costs involved in selling a property?
Selling a property involves several costs that sellers should consider before listing their home. Real estate agent fees vary based on commission structures and marketing services offered. Legal and conveyancing fees cover the preparation of contracts, title searches, and handling the legal aspects of the transaction. Government charges such as capital gains tax (if applicable), discharge of mortgage fees, and settlement adjustments may also apply. Additionally, sellers may need to budget for property maintenance, staging, and potential advertising costs to attract buyers. Understanding all potential costs can help sellers plan their finances before finalising the sale.
Can I sell my property if it has a mortgage?
Yes, a property can be sold even if there is an existing mortgage, but the mortgage must be discharged as part of the settlement process. Before listing the property, sellers should contact their lender to determine the outstanding loan balance and any potential early repayment fees. On settlement day, the buyer’s funds are used to pay off the remaining mortgage, and the lender releases the title. The seller is responsible for any shortfall between the sale price and the loan balance. Lenders typically require a discharge of mortgage form to be completed, and processing times can vary, so it is advisable to start this process early.
Do I need a conveyancer or solicitor to sell a property?
A conveyancer or solicitor is required in most states to ensure all legal obligations are met when selling a property. They assist with preparing and reviewing contracts, conducting property searches, managing financial transactions, and overseeing the settlement process. The legal requirements for selling a property vary by state, and a conveyancer or solicitor can ensure compliance with all necessary regulations. They also communicate with the buyer’s legal representatives to finalise the transaction. Sellers should engage a legal professional early in the process to ensure all required documents are prepared before listing the property.
