Looking to Sell

Selling a property can certainly be one of the biggest transactions of your life!

At Impact Conveyancing, we are here to guide you through the process with ease and clarity! The first step is to get your sale contracts prepared.

Faq’s when Selling a Property

Preparing your sale contracts

Did you know that a Real Estate Agent cannot market your property without holding a valid Contract for Sale of Land? At Impact Conveyancing we will prepare your contract within 24 hours (subject to the availability of legislated Disclosure documentation).

All we need is for you to complete our Vendor questionnaire and we can get started on contract preparation!

Some contracts can be unique and require certain disclosures to prevent you from future liabilities and on-going attachment to the property. Some contracts will require clauses to be carefully drafted so as to deal with the unique aspects of your property. At Impact Conveyancing, our Conveyancers have been trained by solicitors to formulate and draft special conditions that will ensure your transaction runs smoothly and keeps protecting you for well after your property is sold and your settlement has been finalised.

Entering into a contract

Once your agent has worked their magic and achieved you a great price for your property, the exchange process is either handled by them or this office. Contracts can be exchanged unconditionally or, more commonly – giving the purchaser the benefit of a cooling off period. During this Cooling off period we will work with your buyer answering any questions they may have in relation to the property and contract and working with you in relation to the commencement of discharging any loans and finalising the verification of your identity.

What happens after you enter into a contract?

After you have sold at auction or after the cooling off period expires, we will order all required government certificates that are required to be served on the purchaser, ensure all discharge of mortgage documents have been lodged and verification of identity checks are finalised.

This office will be preparing your settlement workspace on the PEXA system and will invite you to watch this workspace via the PEXA Plus App.

Leading up to settlement

You will be asked to allow the purchaser an inspection of the property with the listing agent. Please ensure that you leave the property in an acceptable condition – subject of course to the terms and conditions of the contract.

We will provide you with a statement of settlement, detailing adjustments for all council, water and where applicable – strata levies. We will provide a detailed accounting to you for every cent you will receive on your sale transaction and guide you through how those funds are to be delivered to you on settlement.

On the settlement day

We will effect your settlement without the need for you to be present. You will be notified by both the PEXA App and our friendly staff to confirm finalisation of your transaction.

A few key points to consider on your sale transaction

  1. Have you engaged a Real Estate Agent and signed an Exclusive Agency Agreement?
  2. Do you know what settlement period you might require?  In NSW the standard period is 6 weeks however Contracts can be drafted to reflect whatever you may need.
  3. Do you have a Swimming Pool or Spa?  If so, there is new legislation in place which requires an inspection and Certificate be issued and attached to the Contract.
  4. Have you undertaken building work to your property which may require inspection or certification to ensure a smooth sale transaction?
  5. Are there any tax liabilities or implications attached to your transaction?
  6. Are you a foreign person? Capital Gains Withholding Tax is a Federal Tax aimed to ensure Capital Gains Tax is paid on the sale of the property by all Foreign persons, before funds are taken offshore. For all Australian property sold for in excess of $750,000.00 a clearance certificate FOR EACH VENDOR must be obtained from the ATO and provided to the purchaser of your property. We will guide you through the process of obtaining these certificates during your transaction.

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