| Step 1 |
You decide to sell. |
| Step 2 |
You instruct your IPC agent to list the
property. |
| Step 3 |
You instruct your conveyancer or solicitor to
prepare the sale contract. |
| Step 4 |
Your conveyancer or solicitor prepares the contract
and sends it to your IPC agent. |
| Step 5 |
The IPC prepare advertising, brochures
and promote the property. |
| Step 6 |
Your IPC agent finds a buyer and the sale
is negotiated. |
| Step 7 |
If necessary, changes which the buyer requests and
you agree to, are made to your contract. |
| Step 8 |
Your copy of the contract is signed by you while
the buyer signs their copy. |
| Step 9 |
Contracts are exchanged. |
| Step 10 |
Your agent holds the deposit from the buyers as
'stakeholder'. |
| Step 11 |
Your conveyancer or solicitor notifies your
mortgagee, who prepares documents relating to the release of your
mortgage and advises the payout figures (if your property has
mortgage). |
| Step 12 |
The buyer sends 'requisitions' to your conveyancer
or solicitor. These are a list of questions about your property and
the sale. |
| Step 13 |
These questions are answered by you and your
conveyancer or solicitor. |
| Step 14 |
You start packing your belongings, ready to
move. |
| Step 15 |
The settlement date and arrangements are finalised
with the buyers conveyance or solicitor. |
| Step 16 |
You vacate the property. |
| Step 17 |
Settlement occurs. The buyer pays the balance of
your purchase price. Your mortgagee is paid out (when a mortgage
exists) and the title deeds are handed to the buyers conveyancer or
solicitor. |
| Step 18 |
Your conveyancer or solicitor deducts their fees
and sends you the balance of purchase monies. |
| Step 19 |
Your conveyancer or solicitor advises your
IPC agent, who sends you the remainder of the deposit
after deducting the fee for service. |
| Step 20 |
Your conveyancer or solicitor will advise all
necessary authorities about the sale. |
| Step 21 |
Your property is successfully
sold |
STEPS OF SALE