Selling a property can take time. Then suddenly it happens. An offer is made, negotiations happen and a contract is signed.
Once the contract has been signed the real work takes place. Here's what you need to do once you've signed a property contract to make sure the sale goes ahead.
What Sellers Need to do After Signing a Property Sale Contract
1. Contact Your Lawyer
It's worth contacting your lawyer as soon as possible to let them know your plans, ask any questions and book them as your preferred lawyer to make sure the property sale goes smoothly on settlement day.
Send your lawyer a copy of the property contract as soon as possible so that they can check any conditions and clauses and keep an eye out for future correspondence from the buyers or their bank.
2. Contact the mortgage holder if applicable
If the property is sold to any encumbrances such as mortgage you'll need to contact your bank to let them know a contract has been signed and the property may go under offer soon.
One of the most common mistakes sellers make during the conveyancing process is to sit on the mortgage release application and not get it to the bank in time. This delay can causes all sorts of hassles and dramas or even cause the sale to fall through.
For peace of mind and to ensure things happen in a timely manner I recommend you start speaking to your bank on the first day (when the contract is signed), or on Monday morning if the contract is signed over a weekend.
Don’t wait until the offer goes unconditional as that may cause delays which interfere with the property settlement.
3. Make the property available for inspections
Make sure the property is available for property inspectors so the building, pest and pool inspections can happen in a timely manner. If you won't be at home when inspections are scheduled your real estate agent should be able to open the home and supervise inspection visits.
That's it! Most property sales go to plan and yours will too if you follow the above steps to make sure everything happens in time.
Signed a Contract on a House? Get a Free Consultation
Contact us today to find out more about how we can help you sell a property or call us now on 1300 224 278 to book your free consultation. Whether you've already signed a property sale contract or are about to, we'll make everything stress free and straight forward for you.