Vendors

The SettleHub team is committed to providing clients with the most reliable and accurate digital conveyancing experience. We will consult you to understand your unique expectations and guide you through the process to efficiently achieve your desired outcome.

building for sale

 

 

 

Where a property sale is concerned, a legal and effective transfer of title is essential to successfully conclude the conveyancing process. Equipped with years of experience, our expert approach to conveyancing embeds cost effective and transparent methods to provide a value-added service.  

Our services to Vendors

  • Drafting required documents  

    • We ensure that the section 32 statement (Vendor Statement) is drafted in a legally compliant manner. We further assist you to negotiate any special conditions tailored to your unique circumstances.

  • Adjusting rates and other payments

    • During the settlement process, our team will make all the fee adjustments in an efficient manner handling the finances between the purchaser and the vendor.  

  • Communication  

    • Throughout the process we will communicate with you in a timely manner to understand your vendor requirements, while negotiating with all other parties on your behalf. 

  • Legal title transfer  

    • Our years of experience enable our team to accurately and transparently carry out the conveyancing process to conclude a legal title transfer.

client services on time
Legal Document

FAQ's for Vendors

  • ​​​​​​In order to prepare a section 32 Statement, a conveyancer must first obtain certificates from various bodies including the Land Titles Office, local council and water authority. Therefore, it could take between 1-2 weeks to prepare an effective Vendor Statement and a Contract of Sale.

  • You will be expected to pay a capital gains tax (CGT) if, by selling a property you have obtained a capital gain. A capital gain is realised when the profit gained by selling the property is greater than the cost incurred when buying the property. If you have obtained a capital gain, you are expected to disclose this gain in your annual income tax return.

  • However, if you are selling your principal place of residence, you are exempt from having to pay capital gains taxes.

  • Under Victorian Law, the vendor may serve the purchaser with a section 27 notice. This notice should disclose the outstanding mortgage and any other liabilities of the vendor against the discharge of the property.

  • If the amounts payable towards the discharge of the title are lower than the amount payable by the purchaser at settlement, then it is likely that an early release of the deposit paid by the purchaser will be approved by the purchaser.

  • Please note that this can only be requested if the contract is unconditional.

  • If you have a mortgage broker, they will be able to assist you in this step.

  • If you do not have a mortgage broker, you should fill out a discharge authority form unique to your mortgage lender and file it with them. We advise that you complete this step as early in the process as possible.

  • Only once this is accepted can we prepare the file for settlement and ultimately transfer the property to the purchaser.

  • Typically, the property must be handed over to the purchaser in the same condition as when they entered into the contract of sale.

  • However, if there have been any major defects in the property between the date the contract was entered into and the date the property settled, then you may be required to fix these issues.

  • Where there is disagreement between the parties regarding the issues discovered during the final inspection, both parties must withhold an equivalent amount of money in a solicitor’s trust account and litigate the matter after settlement.