Sometimes, a vendor may sell their property without the assistance of a real estate agent to help them in marketing it for sale. This is a private sale contract. If you are selling your home and have found a buyer yourself, your conveyancer can assist you with the preparation of a private contract of sale. As well as preparing the contract, your Conveyancer will issue all the necessary documentation to both you and your purchaser, to complete the transfer of the property.
A private sale contract, or a private sale, is an unadvertised sale of property. This means that when buying a property – the sale is negotiated directly between the buyer and the seller directly. When there is a private sale, there is generally no involvement from agents or sale-brokers.
When buying or selling a property privately, there is an even greater need to involve a conveyancer while selling a property privately to ensure that you have all elements of the transaction covered.
Private sale contracts involve not only the preparation of the contract, but the searching and preparation of the Form 1 (cooling off rights). As required under the Real Property Act, the Form 1 is to be presented to the purchaser and its service provides information relating to the property as well as the cooling off rights of the purchaser.
When you sell a property privately, it is extremely important that the procedures, as set out under the Real Property Act, are complied with to ensure the transaction is legal.
When engaging in a private sale contract in South Australia there are a few things that need to be considered. Before you sell your property without an agent, it is recommended that you undertake the following steps:
Engaging in a private sale contract can be a complex process that must be variegated with caution. Our team of conveyancers , Form 1 specialists and lawyers are here to assist you every step of the way, making sure you can engage in the sale with total peace of mind. Contact the team at Eckermanns on 08 8366 7900 for assistance today.
Eckermanns Form 1 Portal is an online platform developed by the Eckermann Forms team to provide partner agents with an easy way to manage their Form 1 requests with Eckermanns. Not only do you get the I’s dotted and T’s crossed, you know that once you have requested the preparation of your Form1 via the portal that there is an expert team of specialists behind the scenes making sure that the Form 1 process is completed as soon as possible.
With the Eckermann Forms Portal, you can complete the Vendor’s Questionnaire directly with the Vendor, have them sign page 3 and then serve Form 1 on the Purchaser via email by just hitting a submit button.
Eckermann Forms was established in 2010, providing real estate agents and vendors a dedicated team of Form 1 specialists to:
In South Australia, it is a legal requirement (under Section 7 of the Land and Business (Sale and Conveyancing) Act 1994) when selling a property to disclose certain particulars relating to the purchaser’s land. This disclosure is called a Vendor’s Statement or Form 1.
Serving a Form 1 to a purchaser will activate the two clear business day cooling-off period when it is possible for purchaser to change their mind and “cool-off” on the contract in writing.
When buying at auction where there is no cooling off period. The Form 1 is required to be available for viewing for at least three working days prior to the day of the auction at the office of the real estate agency conducting the sale. The Form 1 must also be on display for 30 minutes prior to the start of the auction. It is a lengthy document and we recommend you ask your conveyancer to review the Form 1 for you.
For people willing to take on the maintenance of a swimming pool there is no doubt they bring great pleasure, especially during our Australian summers. But when you try selling a house with a swimming pool, lack of attention to detail can leave your shivering on the sidelines of your own sale. Today’s article follows … Continued
Are you looking to enter the housing market for the first time time or know of someone who is? The Federal Government has announced the introduction of a First Home Loan Deposit Scheme to support eligible first home buyers. The initiative The First Home Loan Deposit Scheme is an Australian Government initiative to support eligible … Continued
Most of us have at least a vague sense we need conveyancing help when buying or selling real estate but here are 3 unexpected things your conveyancer can assist you with that you might not have realised. These are the items we will focus on in this article: Changing your name on a title Setting up a private … Continued
Sometimes the most important information is right there in front of us, hidden in plain sight. So, too, are today’s property investment blinds spots that I want to share with you. As a conveyancer, I am trained to go through long, contractual documents thoroughly, to make sure you don’t agree to anything you shouldn’t and … Continued
Ground Floor, 180 Flinders Street
Adelaide SA 5000
PO Box 7340
Hutt Street, Adelaide SA 5000
10 Moseley Street
Glenelg SA 5045
1 Sudholz Road
Gilles Plains SA 5086
113 Commercial Street West
Mount Gambier SA 5290
PO Box 453
Mount Gambier SA 5290
138 Hindmarsh Road
Victor Harbor SA 5211
178 Main Road
McLaren Vale SA 5171
