What is a vendor’s advocate? Expand As vendors’ advocates, we act for you as an independent third-party expert throughout the property sales process. We have your best interests as our top priority, and our job is to give you expert advice, liaise on your behalf and help you achieve the best possible sale price. What are your fees? Expand There are no additional fees for international vendors. Our services are paid for by the selling agent and included in their standard agent fees. How do you assess the current market value of my property? Expand Our intimate knowledge of market trends and access to comprehensive Australian property data, means that we determine your property’s real value, following the Australian Property Institute guidelines. How will I know what’s going on? Expand Managing the sale of a property from afar is challenging. Part of our job as your local representative is to keep checking with the agent to ensure that all that is being done and completed as promised, to challenge them to do more, and to keep you informed on activity as it happens. What is the best sales method for property in Australia? Expand We will give you our professional advice on the available sales methods and the preferred method of sale for your property. The best method of sale – whether it be private inspections, sealed bids, by tender or by auction – will depend on the location of your property, its value and current market conditions. For example, in some Australian cities, auctions work very well, yet in others they don’t work at all. How long will settlement take? Expand The settlement period will depend upon the terms that you and the buyer have agreed to in the Contract of Sale. The settlement period typically lasts between 30 and 90 days, with the average time in Australia being 60 days. The buyer’s legal team needs time to conduct the required searches, and the banks or financiers need time to prepare documentation. What is the settlement process? Expand In summary: The buyer will either settle with cash or will require a loan from the bank to settle your property. If a loan is required, the bank gives the approval to release the buyer’s loan as payment for your property. The buyer (or their solicitor) will provide authorisation to your agent to release the deposit monies being held in trust to you at settlement. Your solicitor will make any necessary payment adjustments that were accrued during this period. These are called disbursements. Your solicitor will transfer title of the property to the buyer when you have received full settlement funds. When monies and titles are received, both parties give confirmation to the selling agent that the settlement is a success, and the keys are exchanged.