LRBA for SMSF

Sell a property

We act for vendors on the contract, the Form 1 disclosure, the mortgage discharge and settlement, so the proceeds land on the day.

Selling is not just accepting an offer. The contract has to be right, and the Form 1 has to be served before the buyer signs. Your lender has to discharge on time. Settlement has to be coordinated with a solicitor acting for someone else. We act for vendors across South Australia, so the contract protects you and the money arrives when you were told it would.

A contract that protects the vendor

You go into the transaction knowing which obligations are yours and which remedies you actually have if the buyer delays.

A Form 1 that can't be used against you

Disclosure is prepared and served properly, so the buyer has no technical ground to walk away or claim later.

Proceeds paid on the settlement date

The discharge is arranged early and settlement is held to the date, so the money is there when you have committed it elsewhere.

What a vendor is actually responsible for

In South Australia a vendor has to give the buyer prescribed documents before the contract is signed. That is the Form 1, required by the Land and Business (Sale and Conveyancing) Act 1994 (SA) (the Act). It sets out the material matters affecting the property: encumbrances, easements, rights of way and notices from authorities.

The Form 1 starts the buyer’s cooling-off period, so when it is served and what it says both matter. Beyond disclosure, the vendor has to deliver clear title at settlement. Any mortgage has to be discharged, and vacant possession given unless the contract says otherwise. Get the sequence wrong and settlement doesn’t happen. That is a problem when you have already committed the proceeds to whatever comes next.

A Form 1 is the disclosure document required under the Land and Business (Sale and Conveyancing) Act 1994 (SA). It sets out the material matters affecting the property, including encumbrances, easements, rights of way and notices from authorities. It has to be served before the contract is signed, because it starts the buyer’s cooling-off period. We prepare it and advise on what has to go in it for your property.

If the buyer misses the settlement date you are generally entitled to penalty interest at the rate in the contract. If they still don’t settle within the period the contract allows, you may be able to terminate and keep the deposit. We tell you what your contract actually permits and manage it if settlement is at risk.

Yes. Any mortgage over the property has to be discharged at or before settlement so the buyer gets clear title. We start your lender on the discharge early, because lenders are the most common cause of a late settlement. If the sale price won’t cover what you owe, the shortfall has to be paid at settlement.

The proceeds are paid on settlement day through PEXA, once the price is received and your discharge is processed. What you receive is the price less the deposit already paid, agent commission and any adjustments for rates and water. We give you the expected net figure before the day so you can plan around it.

The contract you sign sets your position for the whole transaction

Condition disputes, settlement delays and disclosure failures all create liability for a vendor without proper support. Every one of them is cheaper to prevent than to argue about.

The sale is agreed. The obligations are all still yours

You have accepted an offer and it feels like the hard part is over. But nobody has reviewed the contract for what it obliges you to do. The Form 1 has to be prepared and served correctly, and settlement needs your lender and the buyer’s solicitor moving together.

A vendor who isn’t properly represented finds out about their obligations when someone else enforces them. Usually in the week the money was supposed to arrive.

You want the sale done and the money in your account

You have accepted an offer and you are ready for the next thing, which is probably the reason you sold. But disclosure, the mortgage discharge and settlement coordination all have to happen in the right order.

A defective Form 1 can give the buyer a way out. A discharge that arrives late holds up the whole settlement. Either one can cost you the purchase you were counting on this money for. You want someone to run it so the sale completes and the proceeds are paid.

What's included in your property sale service

What goes wrong for vendors who aren't properly represented

A Form 1 that misses a material matter can be the buyer’s way out of a contract they have since gone cold on. It can also be the basis of a claim after settlement, about something you genuinely didn’t know you had to disclose.

A contract that doesn’t protect the vendor leaves you unable to charge penalty interest or enforce settlement when the buyer drags. You negotiate from a weak position with someone who has worked out that you need the sale more than they need the purchase.

And a mortgage discharge that arrives after settlement stops the whole thing dead. The buyer cannot get clear title and your funds don’t release. The purchase you were settling on the same day falls over with it.

How we get you from accepted offer to paid

We review the contract and tell you which terms create exposure for you rather than the buyer, while there is still time to change them.

We prepare the Form 1 properly and manage the disclosure, so the cooling-off period runs cleanly and the buyer has no technical exit.

We chase your lender for the discharge early, not in settlement week. We run settlement through PEXA and confirm the net proceeds have been paid to your account. If the buyer wobbles, we tell you what the contract lets you do about it.

Three steps from accepted offer to settled funds

Contract reviewed, disclosure served, proceeds paid on the day.
1

Prepare and disclose

We review the contract, prepare the Form 1, and make sure disclosure is complete and served before the buyer's cooling-off period starts.

2

Manage the discharge

We manage the buyer's conditions, get your lender moving on the mortgage discharge early, and prepare the settlement documents.

3

Settle and confirm

We run settlement through PEXA and confirm your net proceeds have been paid to your account.

Vendor-side conveyancing, from the Form 1 to the proceeds in your account

Most vendors have already spent their proceeds in their head before settlement, usually on the next property. That is what makes a delay expensive. It is rarely the sale that fails, it is the timing.

We act for vendors on residential and commercial sales across South Australia. We prepare the Form 1 so it cannot be used against you. We review the contract for the obligations it puts on you rather than the buyer, and we time the mortgage discharge against the settlement date. We are an ISO 9001 accredited practice. How your matter is run, who does the work and what you get told are all defined and externally audited.

Our great lawyer guarantee

Six principles we hold to, whatever you bring us and however long it takes.

Take the time

We listen carefully to understand what you want to achieve, then step you through the advice and the documents.

Share our knowledge

We pass on as much as we can, so you can make your own informed decisions.

Stick to our knitting

We only do what we are good at, so you never pay for our learning.

Work as one team

Someone is always available to answer your question or point you the right way.

Fair pricing

A fixed or capped quote for advice and documents, so you do not carry the price risk.

It is your show

We are in it for a front row seat to witness your success, not for our egos.

Ready to get your sale moving

A sale runs on dates that other people control, which is why the vendor’s side needs someone watching it. We act for vendors across South Australia from the Form 1 through to the proceeds landing. Tell us about the property and we will set out what has to happen and when.

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