The Contract for Sale
In order for your selected real estate agent to commence the marketing of your property they must hold a complete Contract for Sale to be provided to any prospective purchasers for their review. This gives a prospective purchaser the opportunity to have the contract reviewed and advised upon by their legal representative before they sign the Contract.
To prepare the contract, your representative will request specific information from you in relation to the property. Your answers will be reviewed and discussed with you and Special Conditions will be drafted in accordance with those discussions.
Certificates which are required to be attached to the Contract will then be ordered. These consist of title searches and dealings which are obtained from Land Registry Services, zoning certificates obtained by the local council and sewer location diagrams provided by Sydney Water. If the property is tenanted the current lease will also be annexed. Any other relevant documents, such as documentation of renovation works will also need to be included.
The Contract for Sale will then be sent to the agent to commence marketing. You will also receive a copy for your records.
Fingers crossed an offer to purchase is shortly received!
If you have any questions or should you need any assistance please do not hesitate to contact us at Southern Waters Legal. We offer a free 15 minute no obligation chat if you want to chat through your circumstances.
For more information on Selling Property check out our other blogs:
Part 2: Selecting an agent
You may also be interested in our Purchasing a Property series:
Part 1: Finance and Deposits
Part 2: Stamp Duty
Part 3: Review of the Contract