You’ve accepted an offer and are just a few steps away from finalising your sale. Now it’s time to notify your legal representative that you have a sale in process. You can do this by completing your MasterSell Notice of Sale form and email or fax to your solicitor or property conveyancer. The form will contain the names of the buyer and seller, the solicitor’s details for both parties, the property address, the agreed price and any terms and conditions of the sale.

Engaging a legal advisor during your private house sale is vital. They will guide you through the legal process, protect your interests and perform a number of other tasks on your behalf:

• Notify the buyer’s legal representative about the sale
• Prepare the formal Contract of Sale ready for signing and include any terms and conditions agreed between the buyer and seller
• Ensure the Contract of Sale meets legal requirements
• Discuss and incorporate into the Contract of Sale any changes you make
• Negotiate the changes with the buyer’s solicitor
• Ensure the Contract of Sale is in your best interests
• Retain the deposit payment
• Exchange the contracts
• Arrange the transfer of the property
• Finalise the settlement.

It’s important to be aware at this stage that there is no legally binding contract in place between yourself and the buyer. There is only an agreed sale, and either party can withdraw at any-time until the contracts are signed by both parties and physically exchanged.

Tip: Remember to ask the interested buyer for their property conveyancer or solicitor details to complete your Notice of Sale form. If a buyer is genuine, they will always be forthcoming with this information.

CONTINUE TO STEP 8