Planning on selling your Sydney home?

A house is one of your most important assets. Not knowing your legal obligations on handling its transfer and sale can have bigger implications. It is best to understand how to work out the process to avoid complications. See our checklist on selling a house in Sydney below.

Once an offer is made for your Sydney home

Once you got an offer then it is highly likely the buyer will still want to negotiate terms and conditions before proceeding. When this happens, you have to make sure you understand how the process will work. It is best to have professional advising you on the matter. You can consult a real estate agent on this. Further, you should also be more acquainted with the following:

contract for sale preparation
applicable laws
conveyancing process

Contract for sale

This is the first thing you have to accomplish when selling your property. According to the law, you should include specific information in the contract of sale. It should also contain certain promises such as legal warranties about the property. These are better known as “Vendor Disclosure Requirements.” Other important documents you should include are:

zoning certificate or section 149 certificate
drainage diagram
copy of the certificate of title to confirm ownership of property
copies of documents creating rights of way, easements, covenants or restrictions

Other warranties that you may need to include according to NSW laws include:

warranty that the land is not subject to “adverse affectation” (government contracts that can affect the property in the future)
no sewer on the land not included in the drainage diagram
zoning certificate that offers an accurate picture of the land’s zoning including date of contract

Standard vs tailored terms

The majority of terms under the contract for sale are considered “standard.” This means that they have been established for a very long time and generally fair for both the buyer and the seller. You do not need to include all standard terms in your contract, only the applicable ones.

Consult a solicitor or conveyancer specialist to guarantee that your contract for sale is within the legal requirements and that you are happy with them. This also helps you make sure the contract also pushes for your best interests.

Considering this, your buyer will likely negotiate terms as well. For instance, they may want a longer payment settlement period which may not work for you. They may also require including items like specific “fixtures” as part of the contract. Consult your real estate agent and/or local conveyancer for these and how to tailor the agreement.

Planning to selling your home in Sydney?

Selling your home in Sydney can be tricky but not with the right experts to help you. At Tradebusters Connect, we have a Top 3 Local Business Choice directory that can help you with all the local trades and professionals you need to successfully sell your home.