The Sales Process

A residential property cannot be advertised for sale until a contract of sale has been prepared. The contract must contain a copy of the title documents, drainage diagram and a current

Zoning Certificate (section 10.7) issued by the local council.

If the property for sale has a swimming or spa pool, one of the following must also be attached to the contract from 29 April 2016: a copy of a valid certificate of compliance, or

a valid occupation certificate (issued in the past 3 years) and evidence that the pool has been registered, or a valid certificate of non-compliance. 

This requirement does not apply:

to a lot in strata or community schemes that have more than two lots, or for any off-the-plan contract.

If you fail to attach one of these documents to the sales contract, the purchaser may be entitled to rescind the sales contract within 14 days of exchange, unless settlement has already occurred.

For more information email:

Nick Xenos

nick@trustedestateagents.com.au 

Agency Agreements

For the sale of residential property

If you decide to sell your property with an agent, you enter into a legally binding contract.

NSW Fair Trading has put together some tips on choosing an agent and what you need to know before making a commitment.

Choosing a real estate agent 

To find the right agent for your needs, you should shop around. We suggest you talk to at least three agents, and: 

1. Make sure they have a valid licence,

2. Get a list of all their fees,

3. Find out if they have a good knowledge of your area.

To sell a home in NSW, an agent must have a real estate agent's licence issued by NSW Fair Trading. You can do a licence check online through the Fair Trading website

or call 13 32 20.

For more information email:

Nick Xenos

nick@trustedestateagents.com.au

Underquoting

If you hire an agent to sell your residential property in NSW, underquoting laws will affect how they can market your property.

Before putting your property on the market, you can ask an agent not to reveal the estimated selling price for your property to prospective buyers. This means the agent cannot reveal any price information in advertising, in writing or verbally.

An agent should conduct a marketing campaign that promotes accurate information about the property to attract genuine interest from buyers. An agent must not promote a price for your property as: $XXX,000+ 'offers over' or 'offers above' a certain amount (or any similar statements) if their estimate is a range, they can quote that range as long as the higher price does not exceed the lower price by more than 10% eg; $500,000-$550,000

For more information email:

Nick Xenos

nick@trustedestateagents.com.au

Look up property by address

This search will provide a valid Registration Certificate and Compliance Certificate (where it exists). You can view the attachments and save the certificates to your computer.

From 29 April 2016, all properties for sale or lease require a valid Compliance Certificate. 

If your search does not return a valid pool Compliance Certificate, it does not mean that the pool is not compliant; it may be that the inspection process is yet to be completed. You should contact your local council for further information.

For more information email:

Nick Xenos

nick@trustedestateagents.com.au

Loose-fill asbestos insulation register

The NSW Government is required under the Home Building Act 1989 to maintain a register of residential properties that contain loose-fill asbestos insulation - the Loose-fill Asbestos Insulation Register.

The public release of a property’s address will enable emergency services, tradespeople, Councils and the broader community to know whether a particular property is affected.

This will assist members of the wider community to be informed about any risks associated with a specific property and to take any appropriate safety measures.

If a property does not appear on the public register and you have concerns that it may be affected by loose-fill asbestos insulation, you are encouraged to discuss the matter with the homeowner. 

Accessing the register

The Register is available on the NSW Fair Trading website and each property can be searched by its street address.

For more information email:

Nick Xenos

nick@trustedestateagents.com.au