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Compass Lawyers 30-January-2013

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Selling property process

Prepares draft contract and orders prescribed documents(*)
Prescribed documents:
> title: identity check (Passport, Citizenship cert or driving licence)
> zoning cert. (s149),
> draining and sewerage diagram and
> an identification survey (can rely a recent survey (2 year), if any)
Statutory terms
> the consequence of breaching implied statutory conditions or warranties
Agent lists the property for sale with copy of contract in his possession
Agent issues Sales Advice to solicitor
Solicitor negotiates terms of contract and prepares two, identical, counterpart contracts incorporating agreed terms of the sale
Request s66W certificate, if required

Executed contracts are exchanged

Post Exchange/Pre-Settlement
Arrange discharge of mortgage, if any
Order s109 certificate for strata scheme (for apartments)
Reply requisitions
Execute transfer
Confirm settlement figures and provide direction to pay
Organize settlement: place, date, and time; inform purchaser's solicitor

Hand over documents to purchaser: direction to pay, certificate of title and discharge of mortgage (properly executed)

Lodgement of documents

(*) in accordance with the relevant Conveyancing Act and Regulation.

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