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  • Writer's pictureAnthony Short

Are You Selling a Home or Land?

If so then these are some of the things that you should be thinking of to assist in the process:

In the event you decide to sell a property, whether via an agent or direct, you (the vendor) should contact your solicitor early in the process so that the proposed sale contract may be carefully prepared and any particular legal (including planning) issues that may need to be dealt with can be addressed early (such as leases, easements etc) so as to not hold up the process later.

Please also ensure your tax/financial advisor is part of the process so that the GST treatment is correct where the sale is for business or investment purposes (i.e investment trust, self-managed super fund etc).

Your tax advisor may provide very useful suggestions when it comes to the timing and the way a property should be sold if it is a business or investment property or a property being sold via a deceased estate as many tax related issues may apply to the proposed transaction.

If you have appointed an agent then your solicitor will work with them to achieve the outcome with timely communication between all parties. If the sale is residential, the agent cannot commence marketing until a complete contract is in place. Your solicitor will also deal with your financier at all relevant times to ensure a smooth and timely mortgage discharge process (where relevant).

To prepare a contract for sale your solicitor will liaise with council to order required documents such as a zoning certificate and drainage plans and will also liaise with relevant authorities for title searches and deposited plans and any easements, covenants or restrictions etc that may also apply.

Please provide all relevant information concerning the property to your solicitor to assist in the contract preparation for all building works in the last 7 years (or earlier if you have them) such as building certificates, final occupation, inspections, approvals for development approvals and surveys.

Advise your solicitor of any special conditions you require to be added to the standard contract wording such as a longer settlement period, or leasing the property back after the sale or certain items that must be noted as exclusions on the contract for clarity purposes.

Please be mindful as to logistical issues in the event you find a buyer and exchange contract such as cleaning, rubbish removal, booking removalists, ensuring everything that was working at time of exchange is in working order at the time of settlement.


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