How to sell my property privately in VIC

1. Find a solicitor/conveyancer to Prepare the contract and other relevant documents

It is ideal that you have a contract ready before putting your property on the market; find a solicitor/conveyancer to prepare your sales contract and other required document such as vendor’s statement (also known as a section 32). A solicitor/conveyancer will also help your settlement process as it is the transfer of legal title of real property from one person to another; if you need any help to find a solicitor/conveyancer, please contact us.

2. Set up the price

Check the current sale and sold price in your area on realestate.com.au that will help you to determine a price; you can also find a property valuer to physically valuate your property;

You can not put something like offer above/over or xxx,000+ e.g offer above/over $500k, 500k+ in VIC in advertising. You can display the price at a single price or a price range. Please make sure the higher price does not exceed the lower price by more than 10% eg; $500,000-$550,000

3. Inspection

Set up an inspection time this can be open house or private inspection by appointment; all sellers must make a due diligence checklist available to prospective buyers at open for inspections. The checklist aims to help buyers identify any issues that may affect the property and impose restrictions or obligations on them, if they buy it

4. Receiving offers; Agree on the sale price; Sign the contract

Carefully review your offers; once you and your buyer agree with an offer then consult with your solicitor/conveyancer and sign the contract; there will be 2 copies of the contract; one for you and one for your buyer. You must each sign a copy before they are exchanged.

5. Exchange of the contract

Exchanging sale contracts is the legal part of selling a home. Exchange contract can be done by hand or post and is usually arranged by your solicitor/conveyancer. At the time of the exchange, the buyer will usually be required to pay a deposit

Please note: The buyer or seller is not legally bound until signed copies of the contract are exchanged.

6. Cooling off period

Buyers of residential property usually have a cooling off period of 3 working days in VIC following the exchange of contracts during which they can withdraw from the sale.

The cooling off period can be waived, reduced or extended by negotiation. (please consult with your solicitor/conveyancer)

There is no cooling off period for sellers. Once contracts have been exchanged, sellers are generally bound to complete the agreement.

There is no cooling off period when purchasing at auction.

If the buyer withdraw the sale, the buyer will need to pay the vendor the required holding deposit.

7. Settlement of the property

You and your buyer will agree on a settlement date on signing a contract. It is normally 30 to 90 days in VIC. Your solicitor/conveyancer will help you for the settlement of your property.

we can help you to sell your property privately starting at the price of $399 from our package with the following features, please visit pricing package for full detailed features

Ready to sell your property privately?

Click here to register an account for free to get started