Selling in the ACT
If you are selling your home in the ACT, this is what you need to know about the conveyancing process:
- your agent must have a marketing contract before the home is advertised for sale
- depending on what you are selling, different documents are required to be provided in the marketing contract
- if you are selling a free-standing house or B-Class unit, you will need a property inspection report that includes a pest inspection report and energy efficiency rating included in the report
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the buyer will reimburse you for the costs of this report at settlement – you can defer payment of the report, however, if your house doesn’t sell, you are liable to the building inspection company for the costs of the report – your agent or our us can arrange the building inspection report for you
- if you are selling an A-Class unit, you will require a section 119 certificate, this certificate includes the body corporate fees payable per annum and a copy of the body corporate’s insurance certificates (costs reimbursed by the buyer at settlement) and 2 years worth of body corporate minutes (at your cost)
- if you are selling a B-Class unit, you will require a section 119 certificate (costs reimbursed by the buyer at settlement)
- all marketing contracts require land titles searches including copy of the certificate of title, deposited plan, crown lease, lease conveyancing inquiry, units plan (if selling a unit) and any special resolutions noted on title (if selling a unit)
- if your home is an investment property and rented, a copy of the tenancy agreement is required
- an asbestos advice is also required
- the ACT Law Society’s standard terms are always included in the marketing contract (they
are lawyers best efforts at dealing with the conveyance of real property in the ACT)
From time to time special conditions are required in the marketing contract, we will draft the special conditions as and when required.
When the building report is provided, you may have some unapproved structures that you were unaware of – some unapproved structures should be approved before you advertise the property for sale – your agents and our staff will discuss these issues with you.
