The Selling Process
A focused learning module to guide you step-by-step on your selling journey.
Understanding the selling process helps you know what to expect and when. Here's a step-by-step guide to selling your property.
1. The Timeline
Listing Your Property
Your agent markets the property, conducts viewings, and presents offers to you.
Accepting an Offer
You review and accept an offer. The buyer signs the Offer to Purchase (OTP), which becomes a sale agreement once you sign.
Bond Approval
The buyer secures financing (typically 21-30 days). If the buyer cannot secure a bond, the sale may fall through.
Conveyancing
Attorneys handle the legal transfer. Your bond is cancelled, and the property is transferred to the buyer (typically 60-90 days).
2. Understanding Conveyancers
Three different attorneys are typically involved:
Transfer Attorney
Appointed by the Seller, but paid by the Buyer. They handle the transfer of the property.
Bond Attorney
Appointed by the Bank, paid by the Buyer. They register the bond over the property.
Cancellation Attorney
Appointed by the Seller's Bank, paid by the Seller. They cancel your existing bond.
3. Negotiating Offers
Key Considerations
- Price: Is the offer close to your asking price?
- Conditions: Subject to bond approval, home inspection, etc.
- Occupancy Date: When does the buyer want to move in?
- Deposit: A larger deposit shows serious intent
- Buyer's Financial Position: Pre-approved buyers are more reliable
Toolkit
Interactive resources at your fingertips
Essential resources, templates, and checklists to help you on your home buying journey. Click View to explore each resource in detail.
Selling Process Timeline Checklist
ChecklistTrack your progress through each step of the selling process
Offer Evaluation Template
TemplateTemplate to evaluate and compare offers from buyers