Legal – Selling Privately in NSW
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YES, every home owner has the legal right to sell their property privately regardless of which State they live in but there may be 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' 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 the displaying of sale prices:
New language guidelines with terms such as the following can no longer be displayed:
"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 price figure (e.g. $500,000 - $550,000) which thus helps to provide a more accurate guide on the expected sales price.