SELLING

Things to know if you are selling.

Selling a property can be a time-consuming but rewarding process. In order to minimise the risks involved, we always recommend seeking the advice and services of one of our experienced solicitors.

Before selling a residential property in New South Wales, it is compulsory to have a Contract for Sale completed and attached to it all of the necessary documentation.

Here are some things you should know about selling property including a checklist of items that Solari & Stock Lawyers can assist you with:

Pre-exchange

  • Obtaining detailed instructions from you regarding the sale of the property and discussing all preliminary issues which may need to be addressed
  • Ordering the required documents and title searches
  • Preparing the Contract and attaching the required documents and title searches to it
  • Sending a copy of the Contract of Sale to you for checking
  • Sending a copy of the Contract of Sale to your real estate agent for them to commence marketing your property
  • Negotiating the terms of sale of the property
  • Entering necessary purchaser and pricing information to the appropriate documentation
  • Liaising with your purchaser in order to exchange contracts without delay

Exchange

  • Exchanging contracts with your purchaser and managing all necessary documentation
  • Responding to any requisitions the purchasers may make regarding the title of the property
  • Making adjustments to the purchase price (including Council Rates, Water Rates and Strata Levies)
  • Providing cheque directions to your purchaser’s solicitor
  • Liaising with your mortgagee (if you have one) regarding the preparation of the Discharge of Mortgage and loan payout figure

Settlement

  • Attending the settlement to ensure documentation is processed properly and funds are exchanged according to your instructions
  • Providing funds to your mortgagee (if you have one) to payout your loan
  • Handing over all keys and alarm instructions to the buyer

 

BUYING

For most people, buying a property is a big decision and one of life’s more significant investments. Being fully aware of what is expected at each stage of the buying process is paramount to achieving a smooth transition into a new property.

At Solari & Stock Lawyers, we aim to remove any stressful elements from the buying process by delivering our services through years of experience and extensive knowledge of NSW property law and the market.

There are four main steps in the process of buying a property and we can assist you with each step:

Pre Exchange

  • Making an application for finance (we have developed strategic alliances with reputable mortgage brokers and financiers who will be able to assist you with getting the best deal for your needs)
  • Reviewing the contract for sale and advising you in relation to its terms and of any changes we would recommend in your best interests
  • Organising Pest, Building and Strata inspections (we can organise these through inspectors who we use on a regular basis)

Exchange

  • Place a Caveat on the title to the property to protect your interest as purchaser
  • Obtaining formal loan approval
  • Paying the deposit
  • Signing the contract
  • Attending to exchange of the contract
  • Sending mortgage documents to the lender
  • Ensuring the home loan will be available at time of settlement
  • Arranging payment of stamp duty and ensuring the funds will be available at the right time
  • Communicating with banks or financial institutions to ensure readiness for settlement
  • Preparing settlement figures with your lender and the vendor’s solicitor
  • Provide advice to you regarding final inspection
  • Write to you advising funds needed to complete settlement

Settlement

  • Organising keys for the property from the real estate agent
  • Attending settlement to ensure Title Documents are processed correctly
  • Paying settlement funds to vendor’s solicitor
  • Keeping up to date on when settlement has been reached

Post Settlement

  • For those without a mortgage, lodging Transfer and Notice of Sale with the Department of Lands
  • Placing the Title Deed in safe custody on your behalf (at no cost to you) and sending a copy of the Title Deed to you
  • Arranging final reports to be sent to you
Search