What are the first steps of selling my property?

Property Law: 05 October 2023

Author: Lauren Woolley & Ralph Davies - Our People

Once you have decided to sell your property, the first consideration will be: how much is it worth? Getting your own valuations/appraisals is important in deciding if selling is viable, if it is the right time, and if you can afford to purchase your next property. Once you know that selling is right for you there are two people you will need to get involved. A real estate agent and a lawyer.

Your real estate agent will be responsible for the marketing of your property, including the ads, boards, staging furniture, and photo’s. They will assist you in determining the asking price or range, and facilitate the inspections, the fielding of offers, any negotiations, and the auction if you decide to have one.

A Vendor is advised to engage a lawyer early to guide you in the process. The lawyer will be responsible for preparing the Contract of Sale and Vendor Statement, a process which may take up to 2 weeks depending on the responsiveness of statutory authorities. Having these documents available as soon as you have an interested purchaser may assist in achieving a quick sale, and it is desirable to have them for the first open for inspection.

A lawyer is a fully qualified legal professional. During the conveyancing process they are well equipped to deal with any complicated issues that may arise such as tax implications, any owner builder issues, and adverse possession or other title issues.