The 8 Steps to Selling a House in the ACT: Your Complete Guide

Are you wondering if you can sell your house privately in the ACT without an agent? The answer is a resounding yes—you have the legal right to sell your home on your own (for peace of mind, check with Access Canberra). Read on for our comprehensive guide detailing the 8 essential steps to sell your home in the ACT and achieve a successful sale.

 

Step 1: Prepare the Contract of Sale

Have your solicitor draft a complete contract for the sale of residential property before you even advertise your property. Depending on the type of property, various reports and documents are required, such as:

  • The Crown Lease

  • Certificate of Title

  • Copies of any encumbrances (and accompanying statements if not shown on the Certificate of Title)

  • Asbestos assessment report or advice

  • The deposited plan

  • Building and Lease Conveyancing Enquiries

  • Energy Efficiency Rating Statement

  • Building and Inspection Compliance Report

  • Pest Inspection Report

  • Unit or proposed unit plan

  • Certificate of Title for common property and minutes from the last two owner’s corporation and executive committee meetings

For further details, refer to the “Reality Check – A Real Estate Guide for Buyers and Sellers in the ACT.”

 

Step 2: Set Your Price

Establishing the right price is critical. It is illegal to misrepresent your property’s value, so ensure your asking price aligns with market assessments. To set a competitive and realistic price:

  • Request a free property valuation report online.

  • Research recent sales and current listings on sites such as and official ACT property reports.

  • Consider obtaining an independent valuation from a registered property valuer or requesting insights from local real estate agents.

 

Step 3: Open Homes and Private Inspections

Once your property is advertised, enable potential buyers to inspect it. You can organize open homes or private inspections depending on what suits your property best. Providing flexible viewing options increases buyer engagement.

 

Step 4: Receiving the Offer

Offers will typically be submitted using a signed contract for the sale of residential property. Some buyers may include an expiration clause to avoid prolonged negotiations. It’s essential to have your solicitor review any modifications to the contract. You can also accept a holding deposit – either the full amount or a nominated partial amount – which should be retained in your solicitor’s trust account or a designated trust account until you finalize the acceptance of the offer.

 

Step 5: Signing the Contract of Sale

Once an offer is received that meets your requirements, both you and the buyer should sign two copies of the contract of sale. Sign your copy, then provide one to the buyer for their signature. Once signed, you can list the property as “Under Contract” on marketing platforms, while continuing to keep records of any additional enquiries in case the sale falls through.

 

Step 6: Exchange of Contracts

Exchange occurs when both parties have signed and swapped the contract copies. This process can be done in person, by mail, or via your conveyancer. It is important to note that you and the buyer are not legally bound until all copies are signed and exchanged. At this stage, the balance of the deposit is paid by the buyer and held in trust until settlement (commonly 10% of the purchase price, less any holding deposit). Once the sale is unconditionally exchanged, mark it as sold on your listings.

 

Step 7: Cooling Off Period

In the ACT, buyers are entitled to a 5-business-day cooling off period starting from the first business day after exchange. During this time, the buyer can cancel the sale; however, if they do, they must forfeit 0.25% of the purchase price to you, the seller. Note that there is no cooling off period if the buyer’s offer comes after an unsuccessful auction bid, as those offers are generally considered unconditional. Remember, cooling off conditions apply only to the buyer and cannot be used by the seller to cancel the sale once contracts have been exchanged.

 

Step 8: Settlement

Settlement is the final stage when the buyer pays the balance of the purchase price (less any deposit held in trust) and officially takes legal possession of the property. Settlement dates typically range from 30 to 90 days after exchange, but this can be adjusted if both parties agree. During settlement, your solicitor may meet with the buyer’s solicitor to ensure that all documentation is in order for a smooth transfer of ownership.

 

Selling by Auction or Tender

  • Auction: If demand is high, you may opt to sell by auction. In this case, book a licensed auctioneer well in advance. All auction conditions, including required documents, must be clearly displayed at the auction for at least 30 minutes before it begins. The property sells once the reserve price is met or exceeded, with no cooling-off period.

  • Tender: Alternatively, selling by tender involves buyers submitting written offers by a specified deadline. The seller then selects the best bid. Similar to auctions, there is no cooling-off period in a sale by tender.

 

Congratulations! By following these 8 steps, you can confidently sell your house in the ACT without an agent while ensuring all legal and practical requirements are met.