Info

Blog

Getting in early: pros and cons of possession prior to settlement.

By on in Buying, Selling

Sometimes property buyers want to move in before settlement is completed.  Reasons vary, but commonly it’s about keeping removalist bookings or a sale and purchase that didn’t coincide, leaving the buyer without a roof over her head. Under the standard-form contract used in WA, known as the Contract for Sale of Land or Strata Title […]

Selling your property “subject to finance”

By on in Selling

You’ve sold your home and the contract is subject to finance. The latest date set by the finance clause has come and gone and you’re still waiting for the buyer to send you finance approval. What do you do? The standard-form contract used in WA, known as the Contract for Sale of Land or Strata […]

Do I need a settlement representative?

By on in Buying, Selling

You’ve signed a contract to buy or sell a house and the real estate agent asks you to appoint a settlement representative. What is a settlement representative? Read our blog post to find out. What do they do? A settlement representative arranges to transfer the legal ownership of the property from the seller to the […]

What is a settlement?

By on in Buying, Selling

It’s not a silly question. We’re often asked “what is a settlement?“. Settlement Settlement is the process by which a contract to buy and sell real estate is completed.  At settlement, legal title to the property is transferred from seller to buyer in exchange for the balance of the purchase price. Settlement is also the name […]

Install RCD’s and smoke alarms or face hefty fines

By on in Selling

The Electricity Regulations 1947 (WA) require a seller of residential property to install at least 2 residual current devices (RCD’s) in the property before the sale is completed (settlement).  If you settle without RCD’s you may be fined up $15,000 as an individual or $100,000 as a company. A seller of residential property must also install […]

Five things to do before your sale settlement date

By on in Selling

Arrange for your real estate agent to give the house keys to the buyer immediately once settlement is complete or, if you occupy the premises as your principal place of residence, at noon on the day following settlement. Cancel your insurance on the property one day after the date settlement occurs. Cancel the electricity and […]

Compare apples with apples when choosing your rep

By on in Buying, Featured posts, Selling

Flat Rate Settlements offers instant online quotes that are simple and transparent. And we’ll beat any competitor’s genuine quote by $50. But not everyone plays fair. Here are some tips for selecting a settlement representative: Compare apples with apples. Ethical agents are clear about their fees and don’t confuse them with disbursements (out-of-pocket expenses) that […]