So you are ready to sell your property
Now what?
Below is a step-by-step guide on how Elevation Conveyancing supports our vendors through the sale of their property.
Step 1 -Engage a Property Conveyancer
List your property for sale, typically through an estate agent. Sign an authority to sell, which authorizes the agent to sell the property under specified terms and conditions.
Step 2 - Vendor Statement
Prepare the vendor statement, detailing the required disclosures as set out in section 32 of the Sale of Land Act 1962.
Step 3 - Contract of Sale
Prepare a contract for the sale of the property. This contract includes details of the property and any goods being sold, the terms and conditions of the sale, and the purchase price the vendor is willing to accept.
Step 4 - Accept Offer
Accept an offer from the purchaser and have the contract signed by both parties.
Step 5 - Early Deposit
Request an early release of the deposit paid, if applicable.
Step 6 - Removal of Encumbrances
Arrange for the discharge or removal of any encumbrance or restriction shown on the title that the purchaser has not agreed to accept.
Step 7 - Create PEXA Workspace
Enter vendor details and settlement details into the PEXA workspace.
Step 8 - Transfer of Land
Complete the Transfer of Land details on PEXA.
Step 9 - Create Duties Online Form
Use the Digital Duties Form for all contracts or agreements for land transfer duty. This form is initiated by the vendor’s representatives and accepted by the purchaser’s representatives, enabling faster processing and electronic signing via email.
Step 10 - Arrange Settlement
Participate in settlement arrangements. Check the Purchaser’s Statement of Adjustments and enter payment destinations on PEXA.
Step 11 - Title Documentation
Verify that the Transfer and Notice of Acquisition contain correct information and sign off.
Step 12 - Settlement
Ensure that title activity, banks, and representatives have completed their tasks. If everything is balanced, sign off. Settlement can take between 30 to 45 minutes for various processes to be completed. You will receive a PEXA notification after settlement, and we will contact you to congratulate you.
Step 13 - Change of Ownership
Send notices to statutory authorities advising them of the change in ownership.