Selling A Property
There are a number of stages involved in a standard conveyance:
Sign the Contract Note (or similar e.g. Offer and Acceptance, Offer to Purchase) or Contract of Sale.
- Exchange contracts with the buyer.
- Answer Requisitions on Title.
- Sign the Transfer of Land.
- Arrange mortgage discharge.
- Settlement.
- Requisitions on Title
In States/Territories where this is applicable, these are questions (requisitions) that the buyer asks you about the property. There are also other types of requisitions, usually issued by banks or the Titles Office, but we will not cover them here.
Normally requisitions are sent to the seller as soon as possible after signing the Contract Note (or similar e.g. Offer and Acceptance, Offer to Purchase) or Contract of Sale (whichever was offered first).
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