Selling
When selling your property, your Real Estate Agent will prepare the contract and Form 1 on your behalf. The Purchaser will receive two days 'cooling-off' in which to decide if they wish to proceed with the purchase. As the Vendor, you are bound by the contract once you have signed - you are not able to cool-off. With this in mind, I am able to peruse the contract, especially any conditions added to the contract, before you sign. I will explain any contract conditions and clauses. This is to protect your interests. Remember that it is easier to negotiate any changes required before you sign, rather than after.
You should notify your Agent of your chosen Conveyancer’s details as soon as possible. Once the Purchaser’s cooling-off is complete and deposit paid, the Agent will then forward to me the contract, Form 1 and any government searches. Once received, I will prepare the relevant documents and ensure the following procedures are completed:
- If you have a mortgage currently registered on the Title you will be required to sign a Mortgage Discharge Authority which I will forward to your Mortgagee, who will begin the process of discharging your mortgage, provide me with a payout figure and meet me on settlement day to provide the Certificate of Title.
- If there is no mortgage registered on the Title, you will need to provide the Certificate of Title to me prior to settlement. I will provide you with a receipt stating this important document is in my possession.
- Liaise with all parties on your behalf to ensure settlement occurs on the agreed date, ie. Agent, discharging Mortgagee, Purchaser’s Conveyancer.
- Pay any outstanding rates to Council, ESL, SA Water, and Land Tax and Strata (if applicable) and calculate an adjustment of these rates so you receive a credited portion from the Purchaser.
- Apply to SA Water for a special meter reading, calculate your water use up to settlement day and pay the amount due to SA Water on your behalf.
- Advise SA Water, Council and Strata Corporation (if applicable) of the change in ownership. You are required to contact your telephone, electricity and gas providers prior to settlement to request a final meter reading (if applicable).
- Provide you with a statement detailing all costs, adjustments, amount required to discharge the mortgage and the final balance of funds due to you.
- On the day of settlement I will attend at the Adelaide Land Titles Office on your behalf, meeting with all relevant parties (discharging Mortgagee, Purchaser’s Conveyancers and the Purchaser’s incoming Mortgagee). Settlement will occur between 11am – 12am.
- Funds due to you will then be provided, as per your written instructions.
- I will contact you and the Agent to confirm settlement is complete.
All of these above procedures are important. However, it is when a property transaction does not occur as planned that the true importance of my role as your Conveyancer becomes apparent. I will then negotiate on your behalf with all concerned parties to ensure your rights under the contract are upheld.