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SELLING PROPERTY

This page will summarise the Conveyancing process for selling property and should be particularly helpful for people preparing to sell.

Firstly, a property must have a Contract of Sale prepared before it can be advertised. A licensed Conveyancer or Solicitor can help prepare this and compile the necessary inclusions such as the Certificate of Title, drainage diagrams and zoning certificates that are obtained from the local council. As such, if you are considering selling a property, it is beneficial to contact a Conveyancer or Solicitor as early as possible.

selling property

In addition to preparing a Contract of Sale in advance, you may wish to consider the following:

    • Whether you want to sell at auction or private treaty.
    • Whether you want want to engage an agent or sell the home yourself.
    • Identifying a purchase price. This can be done through your own research, or via a valuation.
    • Identifying costs associated with selling the property. Such as capital gains tax, agent fees, removalist fees and bank fees.

If you are uncertain about any of these, please phone us and we can provide you guidance. While selling a property can be a stressful task, becoming familiar with the selling process (described below) and hiring a professional Conveyancer will set you up for a favourable outcome.

What our clients say about us

Stacey Sullaphen
Stacey Sullaphen
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Nothing but praise for HLC who handled our purchase right on the border of NSW & QLD, making it tricky indeed. Sue & her team kept on top of everything and informed us every step of the way! Would not consider using anyone else for our Conveyancing or legal needs.
Rick M
Rick M
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I cannot begin to say how easy purchasing a home was with the help of Hunter legal and Conveyancing. Sue and the team made a difficult task simple. I will definitely be using HLC for my next house.
Shane Nevin
Shane Nevin
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I couldn't have asked for better service than what i received from Dawn when purchasing our block of land last year. Very helpful, extremely professional, service with a smile. 🙂
Karen Fenning
Karen Fenning
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Highly recommend Hunter Legal & Conveyancing , Sue and her Team went above and beyond for us they came to our home to sign our new House Contract when it was difficult for us to get out and about with our disabled son.
Leanne McDonnell
Leanne McDonnell
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The Team @ Hunter Legal & Conveyancing are exceptionally great @ what they do as a team, their excellence to detail and support were outstanding, Thanks to Sue and The Team, from the front desk to beyond you all went out of your way to help me achieve the purchase of my new property. I would highly recommend Hunter Legal & Conveyancing. Thankyou ALL again. Leanne. Kurri Kurri.
Steven Sales
Steven Sales
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No mucking around, they just get in and get the job done. Friendly staff Made the process of buying a house less stressful
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Vicki Hobbs
Vicki Hobbs
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I have found them most helpful, with the sale of my house. You would be happy with their service if you went with them.
Mathew Sefian
Mathew Sefian
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Incredible work. I needed people on the ball, proactive and experienced enough to navigate a settlement in 5 days after an exchange. Any one who knows property, banks and sollicitors knows this is a big ask. Hunter legal were all over it !!! And we did it. Great work cant say enough about this team.
Brad Driscoll
Brad Driscoll
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Erin and the team from Hunter Legal and Conveyancing were a pleasure to work with. Made the process straight forward and easy to manage.
Toni Walsh
Toni Walsh
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I work with Hunter Legal on a daily basis and always find them easy to communicate with, always friendly and happy to help any way they can. Would happily refer them to anyone who is wanting to buy or sell real estate.
Chris Lyttle
Chris Lyttle
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The team at hunter legal are very helpful and where able to sort everything out while I was working away. Ebony done an excellent job with the sale of my house and buying my new house.
Darren Doyle
Darren Doyle
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The staff have been awesome right from when I called to get there help in buying our home, highly recommended HLC to everyone looking for professional help in anyway. Thank you so much Susanne you made our job easy. Keep up the great work.
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Kathie Morris
Kathie Morris
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Big thank you to Ebony, Erin and team for handling both property sales and purchases for us recently. All transactions were delivered professionally and thoughtfully, considerate of our time and availability.
Ryan Drury
Ryan Drury
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Fantastic service. Went above & beyond with my recent home purchase. Highly recommend this professional crew. Special shout out to Jasmine for her fantastic efforts. Thank you so much.
Trevor Laker
Trevor Laker
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Sue and Ebony were amazing after having a bad experience with another Conveyancer, a pleasant and easy transaction and nothing was to much trouble for these girls. We would have no problem recommending them they at least sell peace of mind when they take you on as a client.
Terry Bradley
Terry Bradley
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Having moved from interstate and not knowing anyone, Sue was recommended by the real estate agent. She was very friendly and pleasant to deal with especially when we had dramas. Would highly recommend their services.
Kasey Williams
Kasey Williams
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Ebony and Erin assisted me in purchasing my first home. They were incredibly professional and guided me through every step of the process, answering all of my questions and providing valuable assistance along the way. Thankyou so much!
Steve Jarmain
Steve Jarmain
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I have engaged Sue and the friendly team at Hunter Legal twice in 12 months on Conveyancing and purchasing realestate. its a pleasure dealing with such professionals. They are very efficient, have great communication and are very approachable. I highly recommend Hunter Legal and will continue to use their services in the future. Again well done to Sue and your proactive team.... Thank you...
Danielle Fox Harland
Danielle Fox Harland
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Sue Mosley and her team at Hunter Legal and Conveyancing were a pleasure to work with. Sue and Jasmine have a straight forward approach to Conveyancing and legal matters which made the process of purchasing a property stress free and easy. Her honesty, expertise and in depth knowledge enabled us to achieve a property settlement in a short amount of time. Sue and her team went above and beyond our expectations in all areas of customer service and legal representation. We would highly recommend Hunter Legal & Conveyancing.
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THE PROCESS OF SELLING PROPERTY

The below diagram represents the course a person will go through when selling a property.
selling property

There is good reason to sell your property in summer read our article why you have to sell your property in spring.

SELLING PROPERTY IN NSW - WHAT YOU NEED TO KNOW

The Contract of Sale – must include the following:

selling property

A zoning certificate (officially named a Section 10.7 Certificate) are legal documents issued by the local council and contain information relating to how a property may be used (i.e if it can be used for commercial use), as well as information relating to the council development of that property (i.e. new apartments being built next door). It is imperative that you understand this document, so you are aware of the current and future implications that council planning may have on the property.

selling property

A drainage diagram, that highlights the location of sewerage systems from the property to the nearest main. We recommend you keep these diagrams on file, as they are often used for future excavation or plumbing works of a property.

selling property

A Certificate of Title, which is the official document proving a party is the owner of a property. This certificate will be transferred to the new owner upon settlement.
In addition to the above, if a property has easements, rights of way, restrictions or covenants, then copies of these must be attached to the Contract of Sale.

selling property

The cooling off period – This is a window of time that a buyer is able to withdraw from a property purchase. It is usually five business days in length, in which time, a buyer will usually organise pest and building inspections for the property. During this period, a buyer can withdraw from the sale for any reason, however will be required to pay 0.25% of the purchase price (i.e. $1250 if the purchase price is $500,000). Cooling off periods can be negotiated to be removed, extended or shortened. Cooling off periods only apply for private treaty sales, when buying at auction, there is no cooling off period and the parties exchange contracts immediately.

Without these documents, a buyer may be able to rescind the Contract of Sale. This is not an ideal situation, particularly if the seller has already acquired another property.

Capital Gains Tax
Capital gains or capital loss occurs when you purchase an asset (i.e. a house) and then sell it later for a different amount. The Australian Taxation Office may impose a Capital Gains Tax (CGT) when selling a property.
If you are selling a property which has been your principal place of residence and you satisfy eligibility criteria, then you will receive an exemption from this capital gains tax.
If you are selling a property that is not your principal place of residence, such as an investment or business property, then it is likely you will be required to pay capital gains tax.
There are different factors to consider when calculating capital gains tax, such as an individual’s taxable income. In this case we recommend seeking the professional advice of your Accountant.

FAQ

A property valuation is when a real estate agent visits a property, evaluates it and produces a sales appraisal document. The outcome, is to identify a expected sale price for the property.
The value is calculated by many factors, such as market demand, recent sales, land size, building quality, investment opportunity and council planning for that region.
It is not a legal requirement to have a property valued prior to selling. The document is not used for legal processes, such as identifying land tax or stamp duty. It is simply an appraisal so you have a better idea of the property’s value in the current market.

Yes. If the pest and building inspection produce findings of significance, the buying party can request their Solicitor or Conveyancer to negotiate with the selling party during the cooling off period.
Should the buyer decide to not purchase the property, they are able to withdraw from the sale during this cooling off period, and will be required to forfeit 0.25% of the purchase price.

Yes they can, although this will incur a substantial cost.
The Contract of Sale includes a clause for the cooling off period, noting a date and time of expiry. If a buyer wishes to withdraw from the purchase after the cooling off period has expired, they will forfeit the full 10% deposit. Additionally, the buyer may be sued for losses by the selling party.

HOW WE CAN HELP

For a property sale, we will perform the following:

  • Prepare a Contract of Sale that is compliant with NSW Conveyancing Act and regulations
  • Obtain all documentation for inclusion into the Contract including i.e. title search, restrictions, instruments, deposited plan, 10.7 Certificate, Sewer Diagram, and any other notation which may be registered on title
  • Assign a dedicated staff member to your campaign.
  • Provide any guidance that you may need
  • Liaise between buyers, agents, financial parties, councils and other stakeholders
  • Keep you informed throughout the entire process
  • Compile all relevant documentation

READY TO WORK WITH HUNTER LEGAL & CONVEYANCING?

  • We offer exceptional service and regular communication in the form of texts, calls, meetings and online customer portals
  • Our staff possess over 40 years combined experience in the Conveyancing discipline
  • Our customers are never “too small to matter”, from first home buyers to property developers, we have the same attention to detail on every service
  • We are able to help anyone within NSW with their Conveyancing needs
  • We are experienced in all types of Conveyancing, from residential homes, commercial businesses, retirement villages and larger developments

HELPFUL LINKS

Capital Gains Tax - Australian Taxation Office

Land Tax Exemptions & Concessions - Revenue NSW

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