Selling your property - Considerations
What are the main steps to take in selling my property?
Key information sources
- Consult your local real estate institute – look in the consumer information sections
- Consider whether you want to use an agent or not
- If so, how to find the right one
What about my home loan?
If the property you are selling has a home loan attached to it, then the following needs to happen:
- You need to pay off the loan (from the proceeds of the sale)
- The lender will then discharge the mortgage – which allows the title to the property to be transferred
- The buyer will then be the new owner
Other considerations
- Tax - The sale of your property may create various tax obligations – eg, capital gains tax, vendor stamp duty, etc – please discuss with your tax adviser prior to selling so you understand your position
- Financial plan – if you have surplus funds available after the sale of a property, it is good to have an investment plan ready for when you have the money.
How Vision gets involved We can assist you and your solicitor in your discussions with the lender regarding the discharge of your mortgage.
