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Selling your home

Some common questions about selling property:

After the buyer signs the contract for sale there is a period of 5 days during which they can change their mind (unless they have agreed to waive those rights) and they will only incur a small termination fee. They will then be free to walk away from the Contract.

This means that the buyer agrees to waive their ‘cooling off’ rights. By signing the 66W certificate, the buyer’s legal representative documents the fact that they have explained to the buyer that there will be no 5 day cooling off period. If you have many prospective buyers and your property is in demand, you may have a better chance of getting a buyer to waive their cooling off rights, which they might be prepared to do in order to make themselves the most attractive buyer to you.

Yes. Usually the deposit is kept in the agent’s trust account which does not earn interest. But if the deposit is a large amount, or you have agreed to a lengthy settlement period, the agent can invest the deposit on behalf of you and the buyer. Any interest which is earned on an invested deposit is shared equally between yourself and the buyer.

If you have outstanding rates or notices on the property, we will organise to pay them at the time of settlement and this will be deducted from the settlement payment that you receive.

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