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Auditor-General: Low risk of property fraud in WA

By on in Selling

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 […]

Don’t get stung by the duty lodgement deadline

By on in Buying

What is transfer duty? Transfer duty is a state government tax imposed on all dutiable transactions over dutiable property in Western Australia. Most transfers of real estate attract transfer duty at ad valorem rates – ie according to the value of the transaction.  A transaction becomes dutiable and an obligation to lodge it for assessment […]

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 […]

Measure-up before you take the plunge (swimming pools and fences)

By on in Buying

Properties with pools are a popular choice in WA.  Here are some water-safety tips for buyers. Swimming Pools The Building Act 2011 (WA) mandates that a building permit is required prior to the construction of a swimming pool or spa. Swimming pool fences Australian Standard AS 1926.1-1993 requires a compliant safety barrier for swimming pools […]

Buying property together: joint tenants or tenants in common?

By on in Buying

If you buy real estate with your partner or others, you should specify your choice of joint ownership in the Contract. Co-owners may be joint tenants or tenants in common. It’s important to understand the difference so you can make the right choice. Joint tenants If you own property as joint tenants, then on the […]

Bank authority an important first step for sellers

By on in Selling

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 […]

Don’t let pests become a problem

By on in Buying

As a buyer you want to be confident of the condition of the house you’re buying. Most buyers are aware of the hidden menace posed by termites and other pests. Generally an inspection and report by a pest control professional will make the position clear. But, here’s the trap… The standard-form contract for sale of […]

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 […]

Where’s my title deed? (perhaps it’s a non-issue)

By on in Buying

It’s been a month since you completed settlement of your new home.  You’ve unpacked, finalised all accounts and settled in.  But you still can’t relax – you haven’t received your title deeds. Landgate registration Once settlement is complete, documents are immediately lodged at Landgate to transfer the property into your name as buyer. Generally, Landgate will complete examination and registration of […]