Hiring a real estate agent

By on in Selling

Making some simple enquiries before you engage a real estate agent to sell your home (or assist you to buy one) will ensure you choose the best agent for the job. Licence check Contact the Department of Commerce of Western Australia and check that the agent is licensed. Real estate agents must be licensed by […]

Subdivisions – an introduction

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If you live on a larger block, you may wish to subdivide and sell off a portion of the land to access funds or reduce the amount of land that has to be maintained.  Alternatively, you may wish to use part of the land to build a new residence for yourself or develop two new […]

Have you deadlocked your rental property?

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Do you have a rental property? Did you know that as of July 2015, all rental properties must comply with new minimum security requirements? A review of the Residential Tenancies Act 1987 recommended changes to the Act, which clarified what is considered to be ‘reasonable levels of security’ on rental properties.  The new laws provide more detail around […]

How to compare quotes. Beware of scams!

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Congratulations on buying / selling your home! You need a settlement agent. Your real estate agent can suggest someone, but you’re a savvy shopper – you want an excellent price, with service to match. Quote time! What’s in a settlement quote? Put simply, whether you’re buying or selling, your quote will be made up of: A  professional fee – the fee […]

Auditor-General: Low risk of property fraud in WA

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Western Australia’s auditor-general Colin Murphy is confident new measures to reduce the risk of fraudulent property sales are strong. Sound oversight In February 2015, the auditor-general released his report into the regulation of the state’s real estate agents and settlement agents and found the state has sound oversight in place, and the risk of direct […]

E-conveyancing to cut settlement costs and save time (we hope!)

By on in Buying, Selling

The Electronic Conveyancing Act 2014 (WA) has now taken effect, paving the way for digital lodgement of documents in Western Australia. Under the new legislation, settlement agents, lawyers and lenders who are subscribers to the Property Exchange Australia e-conveyancing platform (PEXA) can lodge documents and complete settlements electronically instead of using paper. National roll-out The multi-million […]

Bank authority an important first step for sellers

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You’ve sold your home. The ink on the contract is dry. Congratulations! What’s next? Appoint Flat Rate Settlements, as your settlement representative of course! And then? Once the buyer’s finance is approved you should contact any bank or financier with a secured loan over the property and advise them you have sold your property. Discharge […]

Hope for the best; prepare for the worst – make an Enduring Power of Attorney

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You may not be able to predict the future, but you can prepare for it. What would happen if: you lose capacity to make decisions for yourself; or you become physically unable to manage your affairs? If your answer to either of these questions is, “um…I  don’t know!” then consider making an Enduring Power of Attorney. What is an Enduring Power […]

LJ Hooker Settlements’ lies

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Nobody does it better than LJ Hooker Settlements (according to Mr LJ Hooker). Visit LJ Hooker’s flashy website and a sombre voice warns that cheap offers from competitors “generally reflect the type of service you will receive”. “Some offer a flat fee”, says Mr Hooker ominously. “But these are generally topped up with extra fees […]

Install RCD’s and smoke alarms or face hefty fines

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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 […]