Finalising your First Property Sale
Once you’ve successfully signed the contract of sale or auction agreement for your property, it means you can now wait for the settlement period to end. Depending on the state that you’re in, this period can last from 30 to 90 days and is usually agreed upon by both parties.
Understanding how to finalise the sale is important - here is a guide to what you need to consider.
Understanding the Contract of Sale
The contract of sale is a legally binding agreement between you and the owner of the property and it is crucial you go through it with your own solicitor or conveyancer to ensure the contract is sound so the transaction can be completed successfully.
Here is an overview of what goes into a contract and how the exchange and settlement process works.
Property Conveyancing and Settlement
Whether you are buying or selling a home, the transfer of title and signing of legal documents forms an important part of the process. This is called conveyancing and it can be daunting, especially because each state and level of government has different laws and requirements on property purchases.
Here is an overview of what conveyancers do and where you find one to help you.