Before you can advertise a residential property for sale you are required by law to have a copy of the Contract available for prospective Purchasers to inspect. This is required whether you propose to sell through a Real Estate Agent or privately.
To enable a Contract to be prepared you should contact your Solicitor or Conveyancer as soon as possible to avoid delays in getting the Contract prepared.
Legislation sets out various documents and certificates that are required to be attached to the Contract, failure to attach these could potentially give the Purchaser a right to get out of the Contract after Contracts have exchanged.
In addition to title searches, a Planning Certificate and Sewage Service Diagrams being attached to the Contract, the following additional documents may be required depending upon the property and work which may have been carried out:-
- Swimming Pool Certificate of Compliance if you have a swimming pool or spa;
- Home Warranty Insurance now issued under the Home Building Compensation Fund is required if you have undertaken residential building work in the last six years (for structural work) or two years (for non-structural work) and where the value of the building work is over $20,000.00;
- Final Occupation Certificate if you are selling a newly constructed dwelling or a dwelling where you have carried out additions which required Council approval.
There may be issues that may be prudent to be disclosed in the Contract ie things like illegal building work; fencing disputes; any issues with encroachments by or upon the property ie is a structure located over a boundary.
This is certainly not an exhaustive list however it should assist when you start thinking about your property and what you should be discussing with your Solicitor or Licensed Conveyancer.
If you are looking at selling a hobby farm; rural property, commercial or industrial property, there are likely to be numerous other issues to take into consideration in preparing your property for sale.
Ready to take the next step? Contact the property team at Everingham Solomons, because Helping You Is Our Business.
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