Fixed fee conveyancing service from drafting the contract / section 32 right through to settlement
Step 1: Nominate a property conveyancing business
- Once you’ve engaged a real estate agent, they will ask you to nominate a licensed conveyancer to draft the Contract of Sale and Section 32 Vendor Statement.
- Preparing the Contract of Sale and Section 32 Vendor Statement will involve asking you a series of questions about the property, obtaining utilities information (from your water, electricity, gas service providers) and requesting searches in relation to the land title.
- It is a legal obligation to disclose certain specific information about the property to prospective buyers. If shortcuts are taken in the preparation of the Contract of Sale or Section 32, it will be costly to fix down the track when the mistakes are found.
- We are licensed conveyancers and our fixed price conveyancing service includes the entire conveyancing process for sellers from start to finish.
Step 2: Prepare the Contract of Sale
- Having a licensed conveyancer draft your required Contract of Sale and Vendor Disclosure Documents is invaluable. This is where you will benefit from our experience. We have seen many issues over the years and have accumulated a large database of knowledge to assist you.
- Under a worst-case scenario, depending on the state, it is possible for a buyer to walk away from a signed contract if the Contract Of Sale or Section 32 Vendor Statement are poorly drafted and found to have misrepresented the property.
- Our conveyancing services include the preparation of the Contract of Sale and Section 32 Vendor Statement. We will liaise with yourself and the real estate agent to understand the precise details of the property and make sure this is accurately reflected in the documentation. Our vast experience with documentation comes from having drafted these documents since 2011.
Step 3: Wait for a buyer
- Once the Contract of Sale and Section 32 Vendor Statement are drafted, prospective buyers will visit you property and ask to review the documents.
- The negotiation of the price and documentation will form part of the discussion with your real estate agent and the prospective buyer.
- There may be additional terms that are included or removed. Most often these will be in relation to payment conditions, settlement dates, inclusions of chattels, or exclusions of certain items on the property.
- Our conveyancing services include redrafting the Contract of Sale as necessary depending on how your negotiation ends. We will also be available to you should you have any questions about any proposed documentation changes requested by the buyer.
- A good conveyancer will keep you informed, take away your stress, ensure all parties receive the appropriate information they require, and utilise our experience to advise you along the way.
Step 4: Prepare paperwork for settlement
- Leading up to settlement, banks, government departments, council, utilities service providers and the buyers conveyancer all need to be managed to coordinate a smooth process.
- Our conveyancing services include coordinating information between the buyer’s conveyancer, banks, council, utilities providers (such as water, electricity and gas services) and government departments.
- We will keep you informed along the way, but you can rest assured that we will take care of this entire process for you.
- We will also coordinate with you to ensure that all outstanding bills such as utilities, Owner’s Corporation fees are according accounted for. If you have tenants in the property, we will also make adjustments to ensure that all the calculations at settlement will be accurate.
Step 5: Attend settlement
- The final step is Settlement.
- The Vendor’s solicitor, the Bank, and us meet at a pre-arranged settlement office to exchange paperwork. The Title and government documents are checked, confirmed by all parties, and settlement is agreed upon.
- These days, settlement is usually done electronically via our conveyancing systems.
- When all parties are happy, the paperwork is stamped, and the funds are released. The real estate agent is then authorised to make the keys available for the buyer to pick up.
- Our conveyancing services include setting up, attending and arranging settlement on your behalf. If all parties have done their job, settlement should occur smoothly. If necessary, if it is a physical settlement, we will take care of the entire process to ensure that you can move in as soon as possible.
Step 6: Post settlement matters
- Congratulations, by now you have successfully sold your property.
- Our conveyancing services includes summarising the settlement details for you via a letter so you can see the exact breakdown that took place at settlement in a concise summary for your records. Should any issues arise after settlement, we will be able to answer any queries you may have.
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Vendor standard package
We pride ourselves on being transparent with our clients. Once we provide you with a quote, our fees are final and include all disbursements and GST. We will take care of the entire conveyancing process with no hidden charges.
Contact us for a precise quotation as prices vary based on each state.
How long does it take to prepare the Contract of Sale and Section 32 statement?
Contract preparation requires between 3 and 10 business days to complete, as certificates we request from government authorities can arrive within 3 business days or up to 10 business days to process. As soon as we receive these certificates, your Contract of Sale and Section 32 will be completed and provided to you and your real estate agent.
What is required to prepare a Contract of Sale and Section 32 statement?
There are 2 sections to a complete contract which are the Contract of Sale and Section 32. The contract must be fulfilled with accurate information regarding the property you are interested to sell, which includes but is not limited to property address, title reference, connected services, occupational rights (leases), owner’s corporation (if applicable) and alterations to structures. Subsequently, the Section 32 will require documents (title, title instruments, copy of plan), certificates (council, water and land tax) and notices in reference to the accurate information obtained.
Am I able to have access to the purchaser’s deposit monies prior to settlement?
If you require the deposit funds prior to settlement, your legal representative can assist you in attaining early access to the deposit through a Section 27 statement (S27).
A S27 effectively allows a vendor to access the deposit prior to settlement. However, for a S27 statement to be valid, a supporting letter from the mortgagee bank must be provided (only applicable if there is still a mortgage on the property), which discloses how much is remaining on the mortgage to be discharged, and whether you are in default, etc.
Once the supporting letter is issued, purchasers generally will not object to the early release unless the amount required to discharge is over 80% of the purchase price. The deposit funds will be released to you either upon the purchaser’s consent, or after 28 days from when the S27 was issued (and no objection from the purchaser is received).