Selling a Property
When selling a property most people engage a licensed Real Estate Agent to undertake the marketing, sale and preparation of contract documentation.
Can I sell my property privately?
If you are selling your property without the services of a Real Estate Agent Adelta Legal can assist you with the preparation of the necessary contract and disclosure documentation and guide you through the process. You will not then be paying any commission on the sale, and we charge a competitive fixed fee for this service.
What is a FORM 1?
A Form 1 is a statutory disclosure document that must be provided to a purchaser of the property. Service of a Form 1 on the purchaser gives the purchaser 2 clear business days to cool off any signed contract.
A Form 1 is a form under the Land and Business (Sales and Conveyancing) Act 1994 (SA). A Form 1 includes statutory disclosures and cooling-off rights.
Adelta Legal can undertake searches of state and local government authorities to obtain all information to complete a Form 1.
The vendor and Real Estate Agent usually sign the Form 1 to certify its accuracy. A defective or inaccurate Form 1 can lead to a purchaser having extended cooling off rights.
If settlement has occurred and something in the Form 1 is incorrect, a purchaser may claim damages against the vendor.
My real estate agent will not prepare the FORM 1 Statement?
Many Real Estate Agents do not prepare the Form 1 disclosure document but prefer that conveyancers or solicitors do this. The Form 1 discloses all information the vendor is required to disclose. It will set out any encumbrances or other restrictions to the property.
Information Included in a Form 1
- Ownership and title particulars;
- Easements, encumbrances and caveats on the title;
- Council zoning;
- Development restrictions or proposals affecting the property;
- Council rates, water rates, emergency services levy, strata/community fees (if applicable);
- Building approvals or notices;
- Orders or requirements from local or state government bodies;
- Mortgages, easements or covenants; and
- If leased, tenancy agreements or other third-party interests
Adela Legal can prepare the Form 1 and carry out all searches at a competitive fixed fee.
We have offices in the city and at Tea Tree Gully for the convenience of clients. In addition, for the elderly or infirm, visits can be made to clients at home or in hospital.
Call us on 08 8415 5000 or send an email to make an appointment.