Selling a property is a major milestone, and the legal process can feel overwhelming. This guide breaks down the key steps involved in selling a property in New South Wales.
1. Engage a Conveyancer or Solicitor
Before listing your property, you must have a Contract of Sale prepared.
2. Prepare the Contract of Sale
In NSW, it is a legal requirement to have a completed contract before marketing your property.
What must be included?
Title search
Zoning certificate (Section 10.7)
Drainage diagram
Any relevant disclosures
3. Appoint a Real Estate Agent
Your agent will help:
Market the property
Arrange inspections
Negotiate with buyers
4. Receive and Negotiate Offers
Buyers may:
Make offers
Request changes to the contract
Your solicitor or conveyancer can assist with negotiations.
5. Exchange of Contracts
Once contracts are signed and exchanged:
The buyer pays the deposit
The sale becomes legally binding
6. Settlement Period
During this time:
The buyer finalises their finance
You prepare to vacate the property
7. Settlement Day
On settlement:
You receive the balance of the purchase price
Ownership is transferred to the buyer
You hand over the keys
This article provides general information and does not constitute legal or financial advice. Government schemes, eligibility requirements and legal obligations may change. Advice should be obtained based on your individual circumstances.