When to engage your conveyancer in Canberra
Before you advertise. Because the ACT requires the contract, building and pest reports and EER statement before marketing, briefing your conveyancer first is what gets you to market.
Who can act for you in Australian Capital Territory
In the ACT you can use a licensed conveyancer or a solicitor. Both can prepare your pre-marketing contract package and complete settlement.
Vendor disclosure in Australian Capital Territory
Like NSW, the ACT requires a contract to exist before a property can be advertised. Unusually, the seller must attach building and pest inspection reports and an energy efficiency rating statement to the contract, so buyers see them up front.
Cooling-off in Australian Capital Territory
Buyers get a five business day cooling-off period, ending at 5pm on the fifth business day after the contract is made. There is no cooling-off at auction.
Our view
The ACT asks sellers to do more up front than any other jurisdiction, including ordering building and pest reports. We think that front-loading actually smooths the sale, because buyers bid with fewer unknowns.
Selling and buying at the same time?
Stamp duty is a buyer cost, so you won't pay it on the property you're selling. But if you're buying your next Canberra home, transfer duty is usually the largest government cost of the purchase, and it belongs in your budget from the start.
Two common Canberra scenarios
Selling to upsize
You're selling your Canberra home and buying a larger one. Brief your conveyancer early so your paperwork is ready, line up both settlements for the same day where you can, and estimate the stamp duty on the new place so your borrowing adds up.
Selling an investment
Selling a Australian Capital Territory investment property means tidy title and rates information and, where it applies, sorting tenancy and body corporate details. Getting your conveyancer on early keeps a tenanted sale on track to settlement.
Nothing to pay until settlement
Your conveyancing and other selling costs can be funded and repaid from your sale proceeds at settlement, so getting started early does not mean paying early. How pay at settlement works.
Useful Australian Capital Territory resources
Frequently asked questions
When should I engage a conveyancer to sell in Canberra?
Before you advertise. The ACT requires a contract with building and pest reports and an EER statement before your property can be marketed.
What must an ACT seller prepare before marketing?
A contract of sale with the required documents attached, including building and pest inspection reports and an energy efficiency rating statement.
Who can do my conveyancing in the ACT?
A licensed conveyancer or a solicitor. Both can act for a seller in the ACT.
Is there a cooling-off period when selling in the ACT?
Buyers get a five business day cooling-off period. Auction sales have no cooling-off.
Do I pay stamp duty when I sell in the ACT?
No. Conveyance duty is a buyer cost, and in the ACT it is not paid at settlement but after title registration. If you are buying next, our ACT calculator estimates it.
