Under Contract - a sellers guide

Now that you have a contract on your property there are usually a few processes that will take place which you need to be aware of.

Most sales are subject to two common conditions, these are a “building and pest inspection”  and a “subject to finance”.

Building and pest inspection

A building and pest inspection will most likely be arranged by the buyers to take place within a week. This is at the expense of the buyer. I feel it is always best that the owners not be present at the inspection and I encourage the buyers to be present in order for them to speak first hand with the inspector as the reports written by inspectors often reflect very poorly on the property because inspectors need to protect themselves against legal action. Being available to have a frank conversation with the buyers gives the inspector an opportunity to provide a more balanced opinion. As the selling agent, I am always present at the inspection in order to understand and deal with any issues that may arise, and there are almost always issues to deal with.

Subject to finance

The finance condition will usually have a two to three week time frame. Very often the bank will arrange for a valuation of the property to be done by a registered valuer and an inspection will be arranged through the real estate agent. It is important for the agent to keep in constant contact with the buyers to gauge progress on finance approval. It does happen regularly that an extension of the finance condition is requested and this can be done by mutual agreement of both parties.

PLEASE KEEP IN MIND THAT UNTIL ALL CONDITIONS OF THE SALE ARE MET, THE SALE IS NOT UNCONDITIONAL AND THE CONTRACT COULD BE TERMINATED.

After going unconditional

Once all the conditions of the contract have been met, the contract becomes unconditional and you should proceed with all final planning for your move. The following is a helpful guide for most things that need to be done.

Book movers in advance

Organise several quotes with different moving companies. Make a booking as soon as possible and always check reviews first.

Clear out

Get rid of clothes, appliances, crockery, books and home furnishings you no longer use or need. Hold a garage sale, sell items online, book hard rubbish collection or donate to charity to offload excess possessions.

Hire cleaners

Take the hassle out of moving day and hire a professional cleaner to give your new and old home a good scrub.

Stock up

Get all the essentials you need for packing and moving your belongings safely. Think bubble wrap, boxes, tape, markers and packing blankets.

Packing tips

Consider colour coding your moving box labels so movers know exactly what goes where and which fragile boxes need to be handled with extra care.

Disconnect & connect services

Notify all your utility providers of the dates you’ll be moving out to have services disconnected from your old home and connected at your new place. Don’t forget to connect electricity, internet, gas and water, and to redirect mail.

Update your details

Inform authorities and various institutions about your change of address, including:

• AEC

• ATO

• Medicare

• Centrelink

• Car rego & licence departments

• Pet registration

• Insurance providers

• GP

• Dentist

• Optometrist

• Vet

• Bank

• Mortgage provider

• Super fund

• Employers

• Memberships & loyalty programs

• Schools

• Friends & family

The right cover

Arrange appropriate home and contents insurance to cover your belongings during and after the move. Tip: Take photos of items before moving as a record of their condition.

Prepare a first night box

Pack everything you’ll need to be comfortable in your new home in a first night box. A change of clothes, bed linen, towels, toiletries, sleepwear, medications, some cookware and crockery are all must-haves. Maybe even add a bottle of bubbly to toast your successful move.