- Engage the services of a conveyancer or lawyer with experience and expertise in property matters. Through your conveyancer or lawyer, you will be able to order Government searches in relation to your property, which are needed to complete the necessary sale and transfer documents when you find yourself a buyer.
- Have a prepared contract ready to be signed when you find yourself a buyer who is eager to pay the right price. You must remember that on most occasions, purchasers have a right to cool off on a contract that they have just signed. They are able to exercise this at any time and for any reason within five clear business days of signing the contract.
- The first obligation of a vendor to the buyer is to make sure they can provide clear title. In other words, ensure your property can be freed of any encumbrances, orders, or conditions at settlement so the purchaser may receive a clear title to the property. Your lawyer or conveyancer can assist you with this, but ultimately the obligation is on you to ensure these matters are worked out before you start signing contracts.
- Avoid long settlements. The purchaser may want a long settlement; say 3 to 12 months instead of the usual 30 to 45 days. However, the longer the settlement, the greater the risk that something can go wrong.
- Agents are generally pretty good at protecting their clients’ position. They also have a vested interest in ensuring that settlement proceeds without delay so that they can get paid their commission. Without an agent, and in particular without a lawyer or conveyancer involved in the negotiation process, vendors and purchasers can sometimes commit to terms and conditions that are unworkable, ill-advised and even unlawful. Getting conveyancing and in particular legal advice and assistance is the key!
For more information on this, or if you have any questions about conveyancing, email kyle@gpla.com.au. or you can also call the Greenhalgh Pickard offices on 07 5444 1022.