LRBA for SMSF

Sell a property

We act for vendors on the contract, the vendor disclosure, the mortgage discharge and settlement, so the proceeds land on the day.

Selling is not just accepting an offer. The contract has to be right. Your disclosure to the buyer has to be accurate and given on time, whether we prepare it or your agent does. Your lender has to discharge on time. Settlement has to be coordinated with a solicitor acting for someone else. We act for vendors on residential and commercial sales, so the contract protects you and the money arrives when you were told it would.

A contract that protects the vendor

You go into the transaction knowing which obligations are yours and which remedies you actually have if the buyer delays.

Disclosure that can't be used against you

Disclosure is prepared and served properly, so the buyer has no technical ground to walk away or claim later.

Proceeds paid on the settlement date

The discharge is arranged early and settlement is held to the date, so the money is there when you have committed it elsewhere.

What a vendor is actually responsible for

When you sell, you have to tell the buyer about the material matters affecting the property before they are bound. That includes encumbrances, easements, rights of way and notices from authorities. Each state sets out what has to be disclosed, in what form and by when. If your agent prepares the contract, they commonly prepare the disclosure documents too.

If your disclosure is late, incomplete or wrong, the buyer may be able to get out of the contract. In some cases that right lasts until settlement. It can also be the basis of a claim against you after the sale is done.

Beyond disclosure, you have to deliver clear title at settlement. Any mortgage has to be discharged, and vacant possession given unless the contract says otherwise. Get the sequence wrong and settlement doesn’t happen. That is a problem when you have already committed the proceeds to whatever comes next.

You have to disclose the material matters affecting the property, such as encumbrances, easements, rights of way and notices from authorities. Each state sets out what has to be disclosed, in what form and by when. Disclosure that is late or incomplete can give the buyer a way out of the contract. We prepare your disclosure, or check what your agent has prepared.

If the buyer misses the settlement date you are generally entitled to penalty interest at the rate in the contract. If they still don’t settle within the period the contract allows, you may be able to terminate and keep the deposit. We tell you what your contract actually permits and manage it if settlement is at risk.

Yes. Any mortgage over the property has to be discharged at or before settlement so the buyer gets clear title. We start your lender on the discharge early, because lenders are the most common cause of a late settlement. If the sale price won’t cover what you owe, the shortfall has to be paid at settlement.

The proceeds are paid on settlement day through PEXA, once the price is received and your discharge is processed. What you receive is the price less the deposit already paid, agent commission and any adjustments for rates and water. We give you the expected net figure before the day so you can plan around it.

The contract you sign sets your position for the whole transaction

Condition disputes, settlement delays and disclosure failures all create liability for a vendor without proper support. Every one of them is cheaper to prevent than to argue about.

The sale is agreed. The obligations are all still yours

You have accepted an offer and it feels like the hard part is over. But the contract and the disclosure documents were probably drawn up by your agent. Nobody has checked either for what it obliges you to do. Your disclosure has to be accurate and given on time, and settlement needs your lender and the buyer’s solicitor moving together.

A vendor who isn’t properly represented finds out about their obligations when someone else enforces them. Usually in the week the money was supposed to arrive.

You want the sale done and the money in your account

You have accepted an offer and you are ready for the next thing, which is probably the reason you sold. But disclosure, the mortgage discharge and settlement coordination all have to happen in the right order.

Defective disclosure can give the buyer a way out. A discharge that arrives late holds up the whole settlement. Either one can cost you the purchase you were counting on this money for. You want someone to run it so the sale completes and the proceeds are paid.

What's included in your property sale service

What goes wrong for vendors who aren't properly represented

Disclosure that misses a material matter can be the buyer’s way out of a contract they have since gone cold on. It can also be the basis of a claim after settlement, about something you genuinely didn’t know you had to disclose.

A contract that doesn’t protect the vendor leaves you unable to charge penalty interest or enforce settlement when the buyer drags. You negotiate from a weak position with someone who has worked out that you need the sale more than they need the purchase.

And a mortgage discharge that arrives after settlement stops the whole thing dead. The buyer cannot get clear title and your funds don’t release. The purchase you were settling on the same day falls over with it.

How we get you from accepted offer to paid

We prepare the contract for you, or review the one your agent has drawn up. Either way, we tell you which terms create exposure for you rather than the buyer, while there is still time to change them.

We prepare your disclosure documents, or check the ones your agent has prepared, so the buyer has no technical exit.

We chase your lender for the discharge early, not in settlement week. We run settlement through PEXA and confirm the net proceeds have been paid to your account. If the buyer wobbles, we tell you what the contract lets you do about it.

Three steps from accepted offer to settled funds

Contract reviewed, disclosure served, proceeds paid on the day.
1

Prepare and disclose

We prepare or review the contract and your disclosure documents, and make sure disclosure is complete and given on time.

2

Manage the discharge

We manage the buyer's conditions, get your lender moving on the mortgage discharge early, and prepare the settlement documents.

3

Settle and confirm

We run settlement through PEXA and confirm your net proceeds have been paid to your account.

Vendor-side conveyancing, from disclosure to the proceeds in your account

Most vendors have already spent their proceeds in their head before settlement, usually on the next property. That is what makes a delay expensive. It is rarely the sale that fails, it is the timing.

We act for vendors on residential and commercial sales. We prepare your disclosure, or check your agent’s, so it cannot be used against you. We prepare or review the contract for the obligations it puts on you rather than the buyer. We also time the mortgage discharge against the settlement date. We are an ISO 9001 accredited practice. How your matter is run, who does the work and what you get told are all defined and externally audited.

Our great lawyer guarantee

Six principles we hold to, whatever you bring us and however long it takes.

Take the time

We listen carefully to understand what you want to achieve, then step you through the advice and the documents.

Share our knowledge

We pass on as much as we can, so you can make your own informed decisions.

Stick to our knitting

We only do what we are good at, so you never pay for our learning.

Work as one team

Someone is always available to answer your question or point you the right way.

Fair pricing

A fixed or capped quote for advice and documents, so you do not carry the price risk.

It is your show

We are in it for a front row seat to witness your success, not for our egos.

Ready to get your sale moving

A sale runs on dates that other people control, which is why the vendor’s side needs someone watching it. We act for vendors from disclosure through to the proceeds landing. Tell us about the property and we will set out what has to happen and when.

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