Once you have decided that you are placing your property for sale and have listed the property with a Real Estate Agent, contact our office and we will prepare the ‘ Section 32’ Vendors Statement.
in order to prepare the Section 32 we will need certain documents:
a) if the property is more than 7 years old and no other permits have been issued we will need; current council rates notice, current water rates notice and if applicable the current parks charge notice.
b) if the property is less than 7 years old we will need all of the above plus; building permit, occupancy permit and the builders insurance.
Once the Section 32 Vendors Statement document is completed it will be forwarded onto your Real Estate Agent ready for prospective purchasers. The agent cannot take a valid written offer on the property without this.
If your settlement is 45 days or greater you may be able to have the deposit funds released early under Section 27 of the Sale of Land Act. If you have an existing mortgage this process may take up to 6-8 weeks to complete, the mortgagee must answer certain questions to satisfy the purchaser that the deposit funds can be released, once this response has been received the Section 27 goes to the Purchaser’s Conveyancer for the Purchaser to sign the approval of the Section 27. The Purchaser then has 28 days to either sign the Section 27 or put in an objection, after which time the deposit may be released to the Vendor if no objection is received. If the Purchaser has not responded within the allowed 28 day period, then the Section 27 may be released in writing to the Real Estate Agent. Once our office receives notice from the Purchaser’s Conveyancer that the loan has been approved and the Contract is now unconditional, we will start to organize your discharge of mortgage/caveats.
Closer to the date of settlement our office will order and receive payout figures from your mortgagee and we will discuss how you would like the excess funds to be drawn.
Settlement will then take place, and your attendance is not necessary.
Once settlement occurs we will receive your cheque from the balance of settlement funds the next business day after settlement, you will be able to collect this from our office from 10am onwards or provide us with your bank details and we can deposit into the bank for you.
Once settlement occurs we will notify the rating authorities that the property has settled and of the new owners details.