Though, as with all other States, every home owner has the right to sell their property privately but there may also some particular points that apply specifically to a certain State.
Following are the key points you need to know when selling a property in New South Wales:
* The first thing you need to know is that a residential property cannot be 'advertised' in for sale in NSW until a Contract of Sale has been prepared. It is important that you consult your solicitor or conveyancer about preparing the contract to make sure that everything is in order.
* As of 1 January 2016 the following new rules apply regarding sale prices:
New language guidelines: terms such as "offers over", "offers above", or any symbol must not be used in your advertised listings (e.g. $500,000+)
Accurate price ranges: the upper end of the range should be no more than 10% higher than the lower figure (e.g. $500,000-$550,000) helping to provide a more accurate guide on the expected sales price.
Australian Institute of Conveyancers, NSW
The Law Society of NSW
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