WHAT DOCUMENTS ARE NEEDED TO SELL A HOUSE IN CANBERRA?

Selling a home is a complicated process, there are so many different things to organise. Advertising, price, photographs, open homes, auctions, negotiations, inspections and the list goes on. One of those things that many people dread is the paperwork. What are the documents involved in a house sale? Do I need legal advice, what needs to be signed, swapped or in some way reviewed? What documents are needed to sell a house in Canberra?

By Shariah Kent

03-09-2018
To cut through the fog, I am going to directly answer that very question. What documents are needed to sell a house in Canberra?

DOCUMENT 1: THE CONTRACT OF SALE
The most important document in the whole sale process. The contract of sale is the detailed property listing that is signed by both parties. It outlines the property details, inclusions, cooling-off periods, deposit and is the legally binding document that holds both parties to the sale.

With this contract the deposit is handed over and the sale has begun.

It is important to note, the other major documents are actually included as part of this overarching document for the potential buyers.


DOCUMENT 2: UP-FRONT BUILDING INSPECTION
A crucial document to be attained before the sale of the home. In the ACT an up-front building inspection needs to be carried out by the vendor before signing the contract of sale. This involves a building inspection, pest inspection, compliance report and energy efficiency rating.

This is a document used to protect buyers from falsified properties. The inspections must all be carried out and then made public to potential buyers.

But don’t worry vendors. The eventual buyer of your home will reimburse you as part of their payment for the cost of the inspection.

This is a different process to other states in Australia, so make sure you know how it works in the ACT.


DOCUMENT 3: LAND TITLE SEARCH
As part of a contract of sale a land title search must be conducted. Often a real estate agent or conveyancer can undertake this on behalf of the vendor.

This just involves getting an updated land ownership title that can show you are the owner.



DOCUMENT #4: MORTGAGE UPDATED
As part of the sale process an updated mortgage document should be sourced from the bank of the vendor. This does not need to be given or shown to buyers. However, it is important for buyers to have an understanding of their current mortgage state so that they can make it clear to conveyancers and real estate agents.


DOCUMENT 5: LEASE CONVEYANCING ENQUIRY
This is sort of caught in the up-front building inspection process, however, it is important to note. Not only do the physical checks need to be carried out, but the conveyancing checks as well. Not just land title as mentioned above but listing, improvements, crown lease, rental and dual occupancy details all need to be checked

It is possible these will not be needed at all, but it is a very good idea to have a conveyancer check these things for you.


Hopefully, this helps answer the question "What documents are needed to sell a house in Canberra?