Selling property in Melbourne: what to expect

1. Start with an appraisal

An appraisal estimates what your property could sell for, based on recent comparable sales and current demand. Ask how the agent reached the figure and which sales they compared it with. If the property is tenanted, also check the lease end date and the notice your tenant must receive.

2. Choose how to sell

Private sale means an asking price (or range) and negotiation with buyers. A cooling-off period usually applies to the buyer. Auction means a set date and public bidding with a reserve price you agree with your agent; auction contracts have no cooling-off period. Your agent should explain the costs, timing and marketing for each option.

Your agent must give you a written sales authority before marketing starts, setting out the commission, marketing costs and the estimated selling price.

3. Prepare the Section 32 and Property Price Statement

Your lawyer or conveyancer prepares the contract of sale and vendor statement (Section 32), which must be given to buyers before they sign. Your agent prepares the Property Price Statement (which replaced the Statement of Information from 1 October 2026) with an indicative selling price, comparable sales and the suburb median. For an auction or fixed-date sale your reserve price must be published at least 7 days beforehand, and the sale price is published once the sale is unconditional. Victoria's underquoting laws mean the advertised price must be realistic.

4. Present the property well

A buyer's first impression is vital. Low-cost tips from NDL Realty's team:

• Garden: weed, trim hedges, mow and add fresh mulch.
• Entrance: clean windows, repair fencing, tidy the front door area.
• Presentation: fix dripping taps, freshen paint, declutter, consider styling.
• Indoors: let in maximum light, keep it smelling fresh, clean carpets.
• Outdoors: polish entertaining areas and clear away tools and clutter.

5. Marketing and offers

Your property is advertised on the major real estate websites and opened for inspections. NDL Realty markets to local and international buyers, and has an international sales representative on the team. Offers come through the agent, who must pass them on to you.

6. Exchange and settlement

Once a contract is signed and any cooling-off period ends, the sale is usually unconditional subject to the contract's terms, such as finance. Settlement normally happens 30 to 90 days later, or as agreed. Your conveyancer handles the transfer and paying out any mortgage.

Official sources

• Consumer Affairs Victoria – Selling property
• Consumer Affairs Victoria – New property sales and underquoting laws (Oct 2026)
• NDL Realty – Recently sold
• NDL Realty – Free market appraisal

This guide is general information, not legal, tax or financial advice. Laws, taxes and government schemes change; check the official sources above and get professional advice for your situation. Melbourne Realtors is a business name of NDL Realty.