When selling a property, there are many things a Vendor must consider. The best time to sell, the right agent to use and of course whether or not to accept the price that has been offered. There is one other extremely important issue that any Vendor must take into consideration and it is something often overlooked.

The Contract of Sale needs to be valid and enforceable. At propertytransfers.com.au, we take all necessary precautions to ensure that any Contract of Sale entered into by a purchaser can be enforced by you.

Propertytransfers.com.au will protect your interests by performing the following tasks:

  • Preparation of a Section 32 Statement (also called a "Vendor’s Statement"). It is critical that certain information is included in this document as a faulty Section 32 can allow a purchaser to avoid the contract without penalty. So as to prevent this from happening, we will obtain all necessary searches and certificates and make sure that you give proper disclosure.
  • Preparation of a Contract of Sale. Where necessary, we retain qualified solicitors who can advise in relation to your Contract including any unusual conditions that you may want to include. If you believe that you may require any specific clauses, please inform our specialists of this so that we may obtain appropriate legal advice (as conveyancers are not permitted to give legal advice).
  • After your Contract has been agreed with a purchaser, we ensure that deposit monies are paid correctly and on time.
  • Preparation of transactional documents, including State Revenue Office declarations.
  • Liaising with your lender/mortgagee to obtain pay out figures and a discharge of any mortgages over the title.
  • Arranging settlement with the purchaser and your lender.
  • Checking the adjustments calculated by purchaser in relation to rates and charges over the land.
  • Attending settlement on your behalf and ensuring that sale proceeds are distributed in accordance with your requirements.
  • After settlement, we notify appropriate rating authorities of your sale.

We understand how important it is that the purchaser is legally bound to your Contract, and should it need to be enforced, we have the specialists to make sure this happens. At Propertytransfers.com.au we treat the sale of your property as carefully as if it was our own.


GENERAL INFORMATION FOR SELLERS

Section 32 Statement
We will provide you with a questionnaire which you will need to complete before the Section 32 'Vendor's Statement' can be prepared to us. It is important that you provide us with full and accurate answers to the questions asked as an incomplete or misleading Vendor's Statement could invalidate your sale.

If your property has not been sold within 3 calendar months providing the Section 32 Statement, or if the property is withdrawn from sale for any reason, we will charge you an amount of $350 (plus GST and disbursements). You agree to pay this fee within 7 days of us sending an invoice to you.

The Section 32 Statement accompanies the Contract of Sale and contains information in relation to zoning, rates, building works and all other information required to be disclosed. Any Contract not including a Section 32 Statement is invalid.

Release of Deposit prior to settlement

Upon a property being sold, the deposit is generally paid to be held in trust until settlement. However, the Vendor may wish to have the deposit released before settlement. For this to occur, Section 27 of the Sale of Land Act must be satisfied prior to release of the deposit. we can assist you in completing the Section 27 Statement which is needed to obtain early release of the deposit.

Discharge of Mortgage

Upon receipt of an executed Contract of Sale we will liaise with your Mortgagee in relation to its preparation of a Discharge of Mortgage, including provision of a payout figure prior to settlement. Depending on the Mortgagee, a Discharge Authority may also need to be completed by all borrowers/guarantors and this will be forwarded to you for completion and execution prior to settlement.

Should you wish to speak to one of our conveyancing specialists, or even one of the solicitors we retain the services of, please do not hesitate to contact the office on 1300 785 816 and we can answer any queries you may have.

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