Selling a property in Victoria

A contract of sale is the written agreement between you and the buyer about the property purchase. This document sets out the terms of the real estate transaction that all parties must comply with. Often, conditions of the contract of sale may go back and forth between parties before the purchase price, conditions, and other compromises are settled (particularly for higher value transactions).

TNS Conveyancing drafts compliant contracts of sales and assists clients in executing contracts for selling residential, commercial, and industrial properties in Victoria. We can also represent you in negotiations of contract clauses that don’t suit your requirements.

The Vendor’s Statement includes mortgages, caveats, outgoings, leases, planning schemes, and other details concerning the property. Providing an incomplete or inaccurate section 32 statement could push a buyer to back out of the sale or pursue legal action against you. Our conveyancers can help you prepare and double-check all the information included in the Vendor’s Statement before you present it to potential purchasers of your property.

Want to secure access to the buyer’s deposit before settlement? This is possible under the Sale of Land Act 1962. We can help you secure the buyer’s written authorisation by preparing a notice in writing or Section 27 statement. The statement outlines the particulars of a mortgage or caveat on your property.

Our conveyancers can assist foreigners (non-Australian residents for tax purposes) in sales and settlements of residential property.

Where a property serves as a security for an outstanding mortgage, the lender generally holds the title or control of the title until the mortgage is paid off. Should you decide to sell (or just pay off the mortgage), you have to pay the mortgage in full and release your property title from the lender’s interest. This legal process is called mortgage discharge. We can assist with completing a discharge authority so you can end your mortgage contract and proceed with selling your property.

Selling a property with an existing lease is a bit more complex since you have to make sure you don’t infringe on the rights of your tenants during the process. Depending on the property, your personal situation, and the buyer, our conveyancers can advise you on the pros and cons of selling your property tenanted or untenanted. We can also review your lease agreements and make sure you maintain a good relationship with your tenants.

We work closely with real estate agents, lenders, and other third parties who are involved in conveyancing transactions.