This page applies to owner residents.
If you are a non-owner resident you do not sell your premises, you receive an exit entitlement when you leave. Read more about Fees and charges - leaving a retirement village.
Before you decide to sell
Find out what you will receive
Before committing to sell, residents can request a contract check from the operator. This provides an estimated sale price, a full breakdown of what the resident would owe on exit, and an estimate of what is owed to the resident following sale of the premises. The operator must provide this free of charge. Read more about Contract checks.
Choosing a selling agent and setting a price
Residents have the right to appoint a selling agent of their choice. This can be an external estate agent, or the operator. A contract cannot force a resident to use a particular agent.
Setting a sale price
Residents have the right to set the sale price of their premises.
If a resident appoints the operator as the selling agent, they may allow the operator to set the price.
Signing a contract with an external estate agent
Any contract for the sale for a retirement village premises is automatically subject to a condition that the purchaser must enter into a management contract with the operator on or before completion of the purchase.
This condition can create uncertainty about if an agent is paid a commission for selling a premises that does not complete because the purchaser and operator do not agree a management contract.
Before signing with an external estate agent, the agent must tell a resident in writing whether they will owe a commission to the agent if the sale does not complete because the purchaser does not enter into a contract with the operator or rescinds that contract within the 7-day cooling off period. The agent must get a resident's dated signature on the relevant documents where the information related to these commission arrangements is set out.
Go to Buyer approval and the management contract below for further information on the requirement for the operator and purchaser to enter into a management contract.
For general guidance on engaging agents and selling property, read more on Buying and selling property.
Notifying the operator
Once a resident has appointed a selling agent, the resident should notify the operator in writing of the agent's name and contact details and the asking price.
Residents should give the operator sufficient advance notice of the proposed sale to allow them to prepare management contract documents for the purchaser.
Resident rights during the marketing period
The operator must not interfere
If the operator is not the selling agent, they must not interfere with the sale in any way, including interfering with any 'For Sale' sign on the premises. The only exceptions are where a sign breaches village by-laws or unreasonably disturbs other residents.
Monthly reports if the operator is the agent
If the operator or a person chosen by the operator is the selling agent, residents can request written monthly reports on the progress of the sale, covering the marketing program, all inquiries and contact details, and other units currently for sale in the village.
Buyer approval and the management contract
Any contract for the sale of your premises is automatically subject to a condition that the purchaser must enter into a management contract with the operator on or before completion of the purchase.
The operator's 21-day window
After a resident notifies the operator that they have signed a sale contract, the operator has 21 days to either:
- enter into a management contract with the purchaser, or
- advise the resident of their reasons for not entering into a management contract with the purchaser and apply to VCAT for an order declaring they are not obliged to do so.
If the operator does neither within 21 days, residents can apply to VCAT for an order requiring the operator to enter into the management contract.
What happens after VCAT decides
If VCAT finds the refusal unjustified, it will order the operator to enter into the management contract and can award compensation for delay and inconvenience.
If VCAT upholds the refusal, the sale cannot complete. The buyer is released from the purchase contract and the resident would need to find a new buyer.
Costs payable from sale proceeds
Depending on a resident's contract, sale proceeds will be reduced by the deferred management fee, any capital gain or loss sharing, outstanding charges, and reinstatement costs. The calculation rules differ depending on whether the resident’s contract was signed before or after 1 May 2026.
For a full explanation of how the exit entitlement is calculated including the transitional rules for pre-1 May 2026 contracts, read more about Fees and charges: Leaving a retirement village.
If the resident and operator disagree
If the resident and the operator cannot agree on the value of a premises, either party can apply to have an independent valuer appointed from the Australian Property Institute.
For full detail on the valuation mechanism and VCAT remedies, read more about Fees and charges: Leaving a retirement village.
For help resolving other disputes with the operator during the sale process, go to resolving disputes.
Operator waiting lists
If the operator has a waiting list but is not the selling agent, a resident is not required to sell to anyone on that list and the operator is not required to give the waiting list to the selling agent.