HOW-TO GUIDE:
SELLING PROPERTY IN TASMANIA
Selling Property is a significant milestone, which is why it is often misconstrued as a complex and daunting task. But with the right knowledge and professional help, the process can be made simpler. In Tasmania, like in many other parts of the world, conveyancing plays a crucial role in ensuring a smooth transition of Property ownership. We’ve laid down the steps to make selling your property in Tasmania easier.
What are the steps to take when selling Property in Tasmania?
The first step is to engage a Licensed Conveyancer. Conveyancers are professionals who specialise in Property law and possess in-depth knowledge of the process involved. They act as intermediaries between the Vendor and Purchaser, overseeing the legal aspects of the transaction.
STEP 1: Engaging a Conveyancer
STEP 2: Contract Preparation
Once you've engaged a Conveyancer, they can assist with drafting the Contract for Sale. This document outlines the terms and conditions of the sale, including the sale price, settlement date, and any special conditions. It's crucial to provide accurate and complete information to prevent complications later in the process.
The Conveyancer conducts a thorough title search to confirm ownership and identify any encumbrances, such as mortgages or easements, that may affect the Property. This step ensures the Property is free from complications that might impede the sale.
STEP 3: Title Search
On the agreed settlement date, the Property's ownership officially transfers from the Vendor to the Purchaser. This process involves the exchange of documents, payment of the purchase price, and registration of the transfer with the Land Titles Office.
STEP 4: Settlement
STEP 5: Post-SETtlement
After settlement, the Conveyancer will ensure that all relevant parties, such as the Local Council, the State Revenue Office and TasWater, are notified of the change in ownership. They will also ensure any outstanding rates, land tax, strata corporation fees and Agent commission and marketing charges are settled.
Navigating the conveyancing process when selling Property in Tasmania requires careful attention to detail and a deep understanding of Property laws. Engaging a licensed Conveyancer can significantly streamline this process and provide peace of mind for both Vendors and Purchasers.
Contact EB Conveyancing today.