FAQs - Sale

What should I do before I sell?

The Vendor disclosure legislation in NSW requires you to have a Contract for the Sale of Land ready and available before marketing the property and this Contract must include all necessary documents as set out in the relevant law. It is in fact illegal for you or your selling agent to advertise your property unless a complete Contract is available for any prospective purchaser to inspect.

What is Vendor disclosure?

The disclosure law in NSW also requires you to make certain promises to your buyer about the legal ownership of the property, the legality of all structures on the property and whether or not the property is affected by any Government proposal for the land.

It is therefore essential that all relevant disclosures have been fully discussed with you and that you are well informed about the promises you are making and what these mean to you legally before you put your property on the market.

What is a Contract for Sale of Land?

The Contract is an important legal document that sets out information about the property you are selling and also sets out the terms on which you are willing to sell your property. For example, items such as the settlement date (the final date upon which payment is made and the title transferred to the new owner), how much deposit you are willing to accept and whether you require this to be released to you to be used on another purchase, all inclusions and exclusions passing with the sale, are all noted on the Contract.

Naturally, it is important to ensure that the terms and conditions are tailored to your specific circumstances and suit your preferred time frames.

Call us on 0414 656 211 to discuss selling your home.