Sell
Tips to Prepare for a Home Open
Click HERE (in pdf) to download the Tips to Prepare for a Home Open
To present your home in the best possible way we encourage you to read through the following notes and attend to if required. Remember first impressions count. How does your house look from the street - serious house hunters will often look at several properties over the day, make it look good enough for them to want to get out of the car and have a closer look. Presentation is everything!
Exterior
- Check paintwork, brick work, facia board etc. They may need a brush down or a coat of paint.
- Clean out carport / garage and minimize clutter in and around the house.
- Remove weeds, dead leaves, trim plants and mulch garden
- Remove dead plants in pots and superfluous pots
- Remove kids' toys, pet toys, sporting equipment etc and roll up garden hoses.
- Repair any broken cracked windows / flyscreens / damaged fencing / replace loose brick paving
- Fix any obvious faults
- Remove curling mats
- Clean BBQ
- Have a general tidy around the house and entertaining areas
- Ensure all doors open / slide freely and easily
- Clip back hedges or trees obstructing any views from your property
Interior
- Declutter the whole house to make it feel more spacious
- Clear the entrance
- Clean windows inside and out
- Freshly clean all floor coverings, shampoo carpets and steam clean tiles where possible
- Clean and dust curtains / drapes / blinds
- Hide any unsightly wiring / power cords to TV / Stereo etc
- Reorganise cluttered bookcases
Bathrooms / Kitchens / Toilets
- Make sure all taps are in good working order and do not leak
Settlement Information for the Buyer
Why Enlist the Service of a Settlement Agent (Conveyancer)
The role of the Settlement Agent is to legally transfer property ownership from one party to another. There is also the option of appointing a Solicitor to act on your behalf. It is important to have a clear understanding of the many laws and obligations involved throughout the settlement process. It is highly recommended that you employ the services of a professional.
What is Involved for the Buyer’s Settlement Agent?
Once a Settlement Agent has been appointed by the Buyer, they will perform many duties including:
Conduct a number of searches (including a search of the Title and any encumbrances).
- Submit a Rates Enquiry.
- Prepare and forward relevant paperwork to the Buyer including an “Appointment to Act” document, “Transfer of Land” document, “Stamp Duty Rebate” form and a preliminary “Settlement Statement”.
- Request payment of Stamp Duty from the Buyer.
- Forward copies of the Title/Transfer and Settlement Statement to the Buyer’s Bank/Mortgagee for the preparation of the Mortgage Documents.
- Once the Contract and Transfer have been stamped at the State Revenue Office, forward the stamped “Transfer of Land” document to the Seller’s Settlement Agent for the Seller’s execution.
- Liaise with the Buyer, the Buyer’s Agent, the Buyer’s Bank and the Seller’s Settlement Agent to ensure that all conditions are satisfied and that all is in order for Settlement Schedule Settlement with the Buyer’s Bank and then advise the Seller’s Settlement Agent, who will book the settlement with the Seller’s Bank.
What Happens At Settlement?
The Seller(s) and Buyer(s) are not required to attend the Settlement – the relevant Settlement Agents and Banks will attend on their behalf.
The following will take place:
- The documents will be checked by the Buyer’s Bank to ensure that they have been completed correctly and are able to be registered.
- The Title and monies will be exchanged and the documents will be registered at the Department of Land Administration.
What Happens After Settlement?
All parties will be notified verbally and in writing that settlement has taken place. The Seller/Seller’s Agent is then required to hand over the keys to the Buyer, thus allowing them to take possession of the property.
Note:
By law the Seller has until 12:00pm on the day following settlement to vacate the premises, if the property is already vacant then keys for the property must be handed over as soon as settlement has been finalised. The Buyer’s Settlement Agent will forward a copy of the Title, to the Buyer, showing the property as being registered in their name. This generally happens within four to six weeks of Settlement. As security, the Title Deed will be held by the Buyer’s Bank/Mortgagee.
Costs and Fees for the Buyer
- Settlement Agents Fees: determined by Legislation and dependant upon the sale price.
- Stamp Duty – dependant on purchase price.
- Search Fees.
- Disbursement Fees.
- Bank Cheque Fees.
- Transfer Registration Fee – dependant on purchase price.
- Rates Enquiry Fees – enquiries made to the Water Corporation, State Revenue Department and the Local Government Authority:
- If the property is strata titled, enquiries to the Strata Manager pertaining to Levies and Insurance.
- A proportionate refund is made to the Sellers for Rates, Taxes and Strata Levies (if applicable).
Glossary of Terms
The Offer and Acceptance Contract
The legal contract entered into by the Seller and the Buyer outlining the terms and conditions of sale.
Joint Form of General Conditions
Document outlining the conditions of the contract – forms part of the contract and both parties must receive a copy.
Torrens Title System
Under this system, Governments guarantee Title details and boundaries of the land. Certificates of Title are issued and MUST be searched to reveal all applicable mortgage details, caveats, covenants and easements.
Deposit
The deposit paid by the Buyer is held (in trust) in a trust account of the Sellers’ Agent. The contract makes provisions for this along with the amount payable and applicable time frame.
Conditions
Some commonly included conditions of sale include: Finance / White Ant Inspection /Building Inspection/ Simultaneous settlements of properties
Adjustment of Rates
It is the responsibility of the Settlement Agent to ensure that Water and Shire Rates are adjusted.
Settlement Statement
The Settlement Agent prepares a detailed statement outlining all payments and receipt of monies in relation to the transaction.
Final Inspection
Prior to settlement, the Real Estate Agent organises for the Buyer to inspect the property to ensure that all is to their satisfaction. Your Agent should be present to guide you through this process.
Please refer to the Settlement Guide (Selling) for details relevant to the Seller.
Upon purchasing a property, it is a requirement of the contract to nominate a Settlement Agent (Conveyancer) to act on your behalf. If you do not have a Conveyancer in mind, Stocker Preston highly recommends both Irdi and Dunsborough Settlements with whom we have had a close affiliation over many years.
Settlement Information for the Seller
Why Enlist the Service of a Settlement Agent (Conveyancer)
The role of the Settlement Agent is to legally transfer property ownership from one party to another. There is also the option of appointing a Solicitor to act on your behalf. It is important to have a clear understanding of the many laws and obligations involved throughout the settlement process. It is highly recommended that you employ the services of a professional.
What is Involved for the Seller’s Agent?
Once a Settlement Agent has been appointed by a Seller and has received the contract (or copy of), they will perform many duties including:
- Conduct a number of searches (including a Title Search).
- Advise the relevant Bank / Mortgagee of the intended settlement.
- Forward an “Appointment to Act” document to the Seller to be signed and returned. Prepare and forward a Settlement Statement to the Seller. Forward the “Transfer of Land Document” to the Seller for signing.
The Settlement Agent will then ensure the following has been completed, prior to arranging Settlement.
- The “Transfer of Land” document has been signed by both parties.
- The Mortgage documents have been executed and forwarded to the Buyer’s Bank / Mortgagee.
- Stamp Duty has been paid.
- The balance of monies required for settlement has been paid by the Buyer.
- All conditions of the contract have been met.
- The Seller’s Bank is ready.
Glossary of Terms
The Offer and Acceptance Contract
The legal contract entered into by the Seller and the Buyer outlining the terms and conditions of sale.
Joint Form of General Conditions
Document outlining the conditions of the contract – forms part of the contract and both parties must receive a copy.
Torrens Title System
Under this system, Governments guarantee Title details and boundaries of the land. Certificates of Title are issued and MUST be searched to reveal all applicable mortgage details, caveats, covenants and easements.
Deposit
The deposit paid by the Buyer is held (in trust) in a trust account of the Sellers’ Agent. The contract makes provisions for this along with the amount payable and applicable time frame.
Conditions
Some commonly included conditions of sale include: Finance / White Ant Inspection /Building Inspection/ Simultaneous settlements of properties
Adjustment of Rates
It is the responsibility of the Settlement Agent to ensure that Water and Shire Rates are adjusted.
Settlement Statement
The Settlement Agent prepares a detailed statement outlining all payments and receipt of monies in relation to the transaction.
Final Inspection
Prior to settlement, the Real Estate Agent organises for the Buyer to inspect the property to ensure that all is to their satisfaction. Your Agent should be present to guide you through this process.
[Please refer to the Settlement Guide (Buying) for details relevant to the Buyer.]
Upon selling a property, it is a requirement of the contract to nominate a Settlement Agent (Conveyancer) to act on your behalf. If you do not have a Conveyancer in mind, Stocker Preston highly recommends both Irdi Settlements and Dunsborough Settlements with whom we have had a close affiliation over many years.
