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 […]

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 […]

Switching buyers before settlement

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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 […]

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”

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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 […]