Ensuring a Smooth Transaction from Home Sale Contract to Settlement

Part of Selling Your Home For Dummies Cheat Sheet (Australian Edition)

A contract isn’t binding until each of you, the home buyer and the seller, has a copy signed by both of you. If you’re selling via private treaty sale:

  • Make sure your agent can contact you immediately when he receives a good offer.

  • Have your solicitor/conveyancer on call to be able to get moving on the conveyancing, too, to ensure the process goes as smoothly as possible.

For settlement day, make sure you:

  • Vacate the property (unless the sale goes through with tenants in place).

  • Leave it in the same condition it was in when your buyer signed the contract — otherwise the buyer has the legal right to delay or pull out of the settlement.

  • Organise the disconnection of all utilities.

  • Hand over the keys to the new owners.