Are you asking all the right questions?
Before signing-up an SMSF purchaser to a listing you manage, we recommend you review our essential 9-point checklist. It will help you ensure the sale closes quickly and without unnecessary complications.
Your essential 9-point checklist
- Does the purchaser have a legally compliant SMSF set up?
- Has the purchaser received pre-contractual advice from a lawyer who specialises in SMSF conveyancing?
- Is the purchaser clear as to who should sign the contract?
- Have you advised all Directors of the purchasing entity the need to sign the contract guarantor section?
- Does the purchaser have an SMSF bank account set up?
- Does the purchaser have sufficient funds in their SMSF bank account to pay the deposit?
- Have multiple original copies of the contract been prepared in readiness for signing and distribution to parties for SMSF compliance?
- Are you clear as to the correct entity you should be noting in your deposit Trust Receipt?
- If the property is tenanted have you requested the original lease from the Vendor for handover at settlement for SMSF compliance?
Of course, this is not an exhaustive list and it should not be viewed as formal legal advice. SMSF purchases involve many complex legal issues. And every transaction is unique.
So please contact us for expert guidance. We’ll assess your situation and give you the peace of mind you need before signing-up any contract.
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