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Switching buyers before settlement

By on in Buying

Have you found a beautiful house with a deal too hard to walk away from? If it’s not exactly the right home for you, it may be the right one for someone in your family. Or in other instances, you may want to add your partner’s name onto the title. Be careful!  Most property transfers […]

Penalties for late settlement

By on in Buying, Selling

Buyers and sellers of land generally succeed in completing settlement on the agreed settlement date. However, settlement may be delayed due to an unforeseen event. So what happens if settlement is delayed? The standard-form contract used in WA, known as the Contract for Sale of Land or Strata Title by Offer and Acceptance, includes a […]

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 […]

Buying a property “subject to finance”

By on in Buying

You’ve signed a contract to buy your dream home subject to finance. Time’s now ticking on the finance approval deadline. The seller may end the contract if you don’t get your finance approved on time. What does the contract say? The standard-form contract used in WA, known as the Contract for Sale of Land or […]

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 […]

Help! My home has unlawful buildings

By on in Buying

Oh no!  Not another one. It’s an all-too-common story.  The buyer signs a home contract, without first obtaining legal advice.  Prior to settlement he visits the Local Government (council) offices and makes the unpleasant discovery that some of the buildings don’t have approval. As a general rule, most substantial renovations to homes require council approval […]

There’s no cooling off period for real estate contracts in WA

By on in Buying

As a general rule, once a real estate contract is signed by both parties it’s legally binding. The standard-form contract used in Western Australia, known as the Contract for Sale of Land or Strata Title by Offer and Acceptance, was designed by real estate agents as a simple two-page document that’s easily completed by hand […]

Your pre-settlement inspection is important

By on in Buying

You’ve bought the house and settlement date is fast approaching. There are many things to organise, but don’t forget to inspect the property prior to settlement. As the Buyer, you may inspect the property within 5 business days before the date of possession or settlement [Clause 5 of the 2011 General Conditions]. The seller’s real estate […]