At Hunter Legal & Conveyancing, we recognise that navigating the conveyancing process for a property sale in Victoria can be daunting. Our goal is to simplify this experience for you. Below, we’ve outlined the entire process from beginning to end, so you always know what to expect at each stage of your property sale:
1. Creating a Contract for Sale
Your solicitor will perform all the necessary searches to gather annexures for the Contract and will prepare a Contract and the Vendor’s Statement (Section 32 Statement) for the real estate agent to start marketing your property.
2. Locating a Purchaser
Once a purchaser is identified, the real estate agent will inform our office of their details and their representative. We will then finalise and send the Contract and Vendor Statement for their review and signature.
At this stage, you will also need to sign the Contract and complete a Discharge Authority if there is an existing mortgage on the Title.
3. Contract Exchange
Prior to exchange, the purchaser may request amendments to the Contract, which can be negotiated between both parties to reach an agreement.
After both the vendor and purchaser have signed their respective copies of the Contract & Vendor Statement, then we can effect the exchange on your behalf.
During exchange, the Contracts are verified for consistency and dated. Once dated, the exchange is complete, and if applicable, a cooling-off period begins.
4. Preparing for Settlement
After the exchange, we will ensure all necessary documents are completed and liaise with relevant parties to prepare for settlement, including obtaining payout figures and preparing the statement of adjustments.
During this time you will also need to verify the details of the transaction via a Digital Duties Form through State Revenue Victoria.
5. Final Settlement
The settlement will occur via PEXA, an electronic platform that streamlines the settlement process. No more trips to the bank for cheques; PEXA offers a fast, safe, and secure transfer of Title. During settlement, any mortgages on the Title will be discharged, and the loan will be settled.
6. Document Registration
During the settlement process, the Certificate of Title will be transferred from your name to that of the new purchaser.
If you have any further questions about the conveyancing process for selling in Victoria, please do not hesitate to contact us at 1300 224 828, or you can click this link to take you to our contact form.
