Page 24 - Real estate: a guide for buyers and sellers

Real estate: A guide for buyers and sellers

Selling without a real estate agent Regardless of whether or not you use
an agent, you will have to arrange the
If you decide to sell your property settlement of the sale. This includes
without using an agent, you will need to recovering the balance of the purchase
thoroughly research the selling process. price and transferring property title to the
new owner. You can do this yourself or use
A benefit of selling property without an a lawyer or conveyancer to do it for you.
agent is saving money by not having to
pay commission. An easy-to-use, do-it-yourself guide to real
estate conveyancing is available from the
You will need to complete a vendor’s Information Victoria Bookshop.
statement (Section 32) and contract
of sale. This can be done with a ‘do-it- For further information, visit the Information
yourself’ conveyancing kit or by engaging Victoria Bookshop at Level 20, 80 Collins St,
a conveyancer or legal practitioner to Melbourne, call 1300 366 356 or visit
prepare the documentation for you. bookshop.vic.gov.au.

The steps involved in selling property
without an agent include:

• considering having the property valued
by a qualified valuer to decide the sale
price or range

• marketing the property. Remember
that private sellers, like agents,
must not make false or misleading
statements about their property in
the sale process

• receiving and holding a deposit. You
must hold the deposit in a separate
account or transfer it to
your conveyancer or lawyer

• providing the contract of sale with
the vendor’s statement attached and
arranging for it to be signed.

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