Getting legal help
It’s essential that you involve a lawyer or solicitor early in the process to make sure you are doing everything you need to.
You will need a solicitor who is experienced in property conveyancing (the transfer of legal titles).
Contact a few solicitors to get quotes for the work required or you may have some friends who can recommend a solicitor.
Alternatively, consider using MyConveyancing
who provide online legal support in 3 easy steps, as well as a free phone number where you can contact them on 0800 650 016.
As well as checking availability, you should also agree on the cost of their services (an hourly rate or flat fee plus GST and disbursements).
Your solicitor should manage or provide guidance on the following for you:
- Advise you on any relevant legal issues.
- Deal with the Sale and Purchase Agreement. This is the legal contract between the buyer and seller. Make sure you read the contract and understand the 'fine print'.
- Communicate with the buyer's lawyer.
- Manage the possession and settlement process. Your lawyer should manage the exchange of money and keys, as agreed between you and the buyer.
- Assist you in paying off your home loan. When you sell your house, you will need to pay off your home loan and discharge any mortgage that you may have on the property, before putting what’s left over into your bank account. If you don’t have a mortgage, they will be able to put the entire net proceeds of the sale into your bank account.
- Send notice to the local authority. This will advise your council of the change of ownership. The lawyer will also arrange for the division of local rates charges between you and the buyer.