How much does Conveyancing cost for a vendor?
There are many factors that may be involved in your property transaction, which will influence the overall conveyancing cost, including third-party and government charges. Please get in touch for an obligation-free estimate based on your specific circumstances. We guarantee there will be no hidden costs, and everything will be quoted to you up front.
Do I need to cancel the electricity, gas and telephone accounts when I sell my property?
Yes, as a vendor you are responsible for disconnecting all utilities including electricity, gas, telephone, internet, etc. As your conveyancer, we will take care of the change of ownership with your local council, SA Water, Revenue SA, and your Strata/Community Manager if applicable.
The purchaser has suggested we use the same Conveyancer. Is this a good idea?
While it is legal to use the same conveyancer as the purchaser, we recommend that each party engages their own. You may save a relatively small amount of money by using the same conveyancer, but there are risks in this scenario.
Engaging your own conveyancer means they will work for you and be your advocate. It will also avoid delays should a conflict of interest arise, and the conveyancer is required to cease acting for one or both parties in a transaction.
Do I need a Conveyancer if I’m selling my property privately?
Yes, a conveyancer is still required to prepare the contract of sale, the Form 1 statutory disclosure statement and the other documentation legally required for the sale to proceed.
We recommend speaking with us before advertising your house for sale to make sure you fulfil your legal obligations.
Is there a cooling-off period when I sell my property?
In most cases, there will be a statutory cooling-off period for the purchaser, during which time they have a right to terminate the contract they have signed to purchase your property.
As the vendor, the cooling-off period does not apply to you and you are bound by the contract of sale as soon as you sign it.
What happens on the day of settlement?
The settlement date is specified in the contract of sale. On that date, we calculate stamp duty and other fees, plus adjustments for rates and taxes, and prepare a settlement statement. The balance of the purchase price, fees and any adjustments are paid by the purchaser and the legal documents are lodged electronically. The certificate of title is transferred, meaning that ownership of the property has been legally transferred, and the funds will be released to you. Once the settlement is complete, the buyer can arrange to collect the keys from you or your real estate agent.
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