🏠 [Vendor's Guide] Overview of the Property Conveyancing Process in South Australia

Selling a property is one of the major decisions in life.

Many vendors wonder, “Where do I start?” or “What should I prepare, and when?”

There are several important steps on the vendor’s side as well.

This article provides a clear overview of the entire selling process in South Australia (SA) from the vendor’s perspective.

1. Preparing for Sale: Choosing an Agent and Listing the Property

Once you decide to sell, the first step is to choose a real estate agent and discuss key matters such as:

• Sale price

• Method of sale (private sale / auction)

• Advertising, photography, and home staging

• Timing for listing the property on the market

After the property is listed, enquiries and inspections from potential buyers will begin.The real estate agent acts as the vendor’s representative throughout this stage.

2. Receiving and Negotiating Offers

When a buyer is interested in the property, they will submit an offer.The vendor then decides whether to:

• Accept the offer

• Negotiate the terms

• Decline the offer

Once an offer is accepted, the agent and the vendor proceed with preparing the contract.

3. Preparing and Serving the Form 1 (Vendor’s Statement)

In South Australia, the vendor is legally required to provide the buyer with a Form 1 (Vendor’s Statement).

The Form 1 includes important information such as:

• Title details

• Encumbrances

• Easements

• Rates and water information

• Zoning

• Other material facts relating to the property

It is essentially a background profile of the land, helping the buyer make an informed and confident decision.

If the contract has already been executed, the cooling‑off period begins once the Form 1 is formally served on the buyer.

4. Cooling‑off Period

During the cooling‑off period, the buyer may cancel the contract without providing a reason.

During this time, the real estate agent typically responds to the buyer’s questions and provides any additional information requested.

5. Preparing for Settlement

Once the cooling‑off period ends and the contract proceeds, the vendor’s conveyancer will:

• Calculate adjustments for rates, water, ESL, etc.

• Prepare the Settlement Statement

• Communicate with the bank (if mortgage discharge is required)

• Coordinate with the buyer’s conveyancer and the real estate agent.

  
  

The vendor may also need to prepare the property for handover:

• Submitting a mortgage discharge request to the bank if applicable

• Completing vendor’s work if required

• Arranging a removalist

• Arranging disconnection of gas, electricity, internet etc.

• Arranging key handover

• Final cleaning

6. Settlement

On the day of settlement:

• The buyer pays the purchase funds

• The vendor’s mortgage (if any) is discharged

• Surplus funds will be transferred to the vendor’s account

• Ownership is transferred to the buyer

• Keys are handed over to the buyer

Settlement marks the official completion of the sale.

7. Summary: Vendors Also Have Important Steps to Follow

Just like buyers, vendors also have several important steps throughout the transaction. In particular, preparing the Form 1, submitting a discharge of mortgage request, and coordinating the settlement process require specialist knowledge.

With the support of a conveyancer, the sale can proceed smoothly and with confidence.

If you have any questions, feel free to contact me.

I’m here to support you through every step of your conveyancing journey in South Australia.

Rits from Rits Conveyancing

contact@tatewaki.net | 0411 769 153