Selling a Property in NSW

Need help selling your property?

RM Legal and Conveyancing can ensure your interests are protected, all legal requirements are met and assist with a smooth, stress-free and personal transaction. Starting from pre-sale through to settlement. Submit the questionnaire to get started.

6 Steps to selling property

What is the process of selling property with us?

  1. Marketing Contract is prepared by RM Legal and Conveyancing and sent to the agent so that marketing of the property can commence.
  2. Vendor accepts an offer; RM Legal & Conveyancing receive a sales advice from the Agent; RM Legal & Conveyancing negotiate terms of Contract; issue the Contract to the Purchaser; arrange for the Vendor to sign the Contract;
  3. Deposit is paid by the Purchaser to the Agent and exchange of Contracts takes place;
  4. RM Legal & Conveyancing will reply to Purchaser’s requisitions; contact Vendor’s bank to arrange a discharge of mortgage; arrange for Vendor to sign a Transfer.
  5. RM Legal & Conveyancing receive and check settlement figures; advise Purchaser of cheques required for settlement; book settlement with Purchaser and Vendor’s bank
  6. RM Legal & Conveyancing will attend settlement – receive settlement money and account to Vendor sale proceeds; payout mortgage; authorise the Agent to release the deposit to the Vendor; settlement correspondence issued to Vendor.

The Steps to Selling Property NSW (detailed)

Step 1 – Organise a Contract For Sale

The first step when selling a property is to have a Contract for the Sale of Land for the property prepared. This is exactly what we do for you. To get things started, we need to obtain a Seller Questionnaire from you. You can provide this by filling in our online form, which you will find below, or if it’s easier for you, simply give us a call and we can take the information from you over the phone.

A Contract is required to provide certain legal information to a buyer.  This information is declared by the certificates we place in the contract. By law, there are certain certificates that MUST be there or else it’s an invalid contract.

To order these certificates, we need a deposit from you of $300.  Most of our clients prefer to transfer the $300 via internet banking. If you wish to do the same, our banking details can be found here.

Once the certificates have been ordered, a contract will take between 2 to 5 days to prepare, depending on the council area in which the property is located.

Step 2 – The contract is emailed to the real estate agent by us.

Once the contract is prepared, we email it to the real estate agent you have decided to list with. They are legally allowed to market and sell your property.

After You Accept An Offer:

Once a Purchaser makes an acceptable offer to purchase the property the Agent issues a sales advice. We update the marketing Contract the same day that we receive the sales advice and send the Contract to both you and to the Purchaser’s Solicitor or Conveyancer for signing.

The Purchaser prepares for exchange by undertaking inspections, obtaining formal finance approval and paying the deposit. This process can take up to 14 days.

Most of the time, contracts are exchanged after the Purchaser has completed their inspections and have finance approved.  There are times when a purchaser will sign a contract then undertake finance approval and inspections.

The Contract may be subject to a Cooling off Period after exchange which is usually 5 business days.

During the Cooling off Period the Purchaser has the right to change their mind about purchasing the property. They may withdraw/pull out/rescind from the Contract. If they do, they forfeit/lose the deposit of 0.25% of the purchase price which you receive as compensation.

The second option is for the Purchaser to waive their Cooling off Period. This can sometimes delay an exchange as the Purchaser will carry out pre-exchange inspections and obtain unconditional finance approval before submitting their signed Contract for exchange.

Vendors/Sellers are NOT entitled to a Cooling off Period. Once Contracts are exchanged, a Vendor is bound by the Contract to sell the property to the Purchaser.

If there is a mortgage on your title, we will arrange for you to sign a discharge authority. We will liaise with your lender to ensure they attend settlement. If there is no mortgage on the title, you will need to arrange to collect your Title Deed and deliver it to us in time for settlement.

Prior to settlement, the Purchaser will arrange to carry out a final inspection of the property. These arrangements are made via the Agent. The property needs to be completely empty, all furniture removed, all rubbish removed, and the property left clean ready for the Purchasers. Keys are to be handed to the Agent prior to settlement.

Download our FREE guide on selling property

Joy Funakii
Joy Funakii
Client
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Highly recommend Justin for those first home buyers who are new to the whole buying process. I will most definitely be using them for the future and recommending them to others.
Kim Bevan
Kim Bevan
Client
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Amanda and Justin are fantastic to deal with. We were overseas when our house sold and we didn’t have to worry about a thing. Everything was taken care of for us. A completely hassle free sale. We’ve sold two houses with them now and would happily go back to them anytime and highly recommend them to everyone.
Adam McCann
Adam McCann
Client
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Outstanding service. Went above and beyond for us. We would not have the house we have without the help of RM Legal & Conveyancing. 100% recommended!
Rebecca Smith
Rebecca Smith
Client
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Thank you Julie & Amanda for helping us with the sale of our property. You made it really easy. Loved the conveyancing app too. We'll definitely recommend you to our friends and family.
Annmaree Peden
Annmaree Peden
Client
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RM Legal has done some work for me recently, I had 3 properties at once, they were absolutely amazing, nothing was a problem, easy to talk to, they deal with everything, I would have no hesitation in recommending this company.
Brooke Lea
Brooke Lea
Client
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If anyone is looking for an amazing conveyancer Julie from RM Legal and Conveyancing was sensational. She was efficient, professional, patient, supportive, always kept us updated and informed and was super friendly and helpful and at a reasonable cost too. Highly recommend!
Jessica Corley
Jessica Corley
Client
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My partner and I recently purchased our very first home and would just like to extend our appreciation to everyone at RM Legal and Conveyancing on the outstanding job they did for us.
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