Things to Know When Selling a House in Tasmania
No agent sale in Tasmania
Talking with Leon Compton on ABC Radio, our licensee Andrew Blachut discusses the options for selling your home in Tasmania. Can owners negotiate a better deal on commissions? In fact Mr Blachut argues that homeowners can sell without paying a commission at all! Play the audio to hear more.
How selling a house in Tasmania works
In Tasmania, the common way to make an offer to buy real estate is by the purchaser signing a formal offer in the form of a contract, which outlines the important terms of the transaction.
Currently there is a ‘pro-forma’ Contract For Sale of Real Estate commonly used by real estate agents, conveyancers, and solicitors.
This contract is in two parts:
- Standard Conditions of Sale; and
- Particulars of Sale
The two parts together form the contract. Use of this form of contract is not mandatory and this form of contract can be adapted by agreement between vendor and purchaser.
The purchaser’s formal offer to purchase the property will include details such as:
(a) The purchase price being offered by the Purchaser;
(b) The details of the deposit offered;
(c) The description of the property and details of chattels (e.g. stove, curtains, heaters) being sold with the property;
(d) The timeframe proposed by the purchaser for settlement;
(e) ‘Conditions precedent’ required by the purchaser which may commonly include:
(i) A finance condition – that the Purchaser can get the money they need to buy;
(ii) A building inspection report condition – the Purchaser has had the property independently inspected;
(iii) A condition regarding the offer being subject to the sale of the purchaser’s home – if the purchaser cannot buy a new house without selling their current house;
(iv) A condition that there are no legal restrictions on the use of the property which may hinder or prevent its use for the purpose proposed by the purchaser (e.g. the Purchaser may only wish to purchase the property if they can secure council approval for development for units, for example).
At the time of writing change to existing state legislation is being discussed which may result in the introduction of a Vendor Statement which will be required when selling. Unlike other states except WA, at the time of writing, there is no mandatory cooling-off period for a property transaction within Tasmania.
Tasmanian private seller review
Michael sold his property in Lenah Valley in April 2018 and said “Very good website, with good functionality and very easy to use. Great brochures, and For Sale sign. Would recommend to anyone as the best way to sell your home.” View the sold listing
Cooling Off Period
No cooling-off periods apply to the sale of any property in Tasmania.
Want to know more? Read 4 things you should know about the cooling off period
Selling your home during coronavirus
Like other states in Australia, Tasmania’s property market felt the repercussions of coronavirus and the heavy restrictions that were put in place in the first half of 2020. As a direct result of this; just like all other states, the amount of properties for sale plummeted, as sellers withdrew their homes from the market while isolation and changed inspection protocols took hold. While the number of properties on the market dropped, so too did property prices during that time. However, with the relaxation of restrictions into June 2020, and the property market returning to pre-coronavirus conditions, experts predict Tasmania’s property market to hold its ground as consumer confidence returns.
You don't have to use an agent to sell your own house in TAS
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Contact the PropertyNow team to learn how easy it is to sell your home without an agent: