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Free agency – consider a private sale

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Selling your property yourself, without using the services of a real estate agent, is known as a private sale. Pros and Cons The obvious advantage of a private sale is not paying a real estate agent’s fee, which may be a substantial saving, particularly an agent’s fee calculated as a percentage of the sale price […]

Do your homework before you buy a property

By on in Buying

Inspection Unless the contract makes specific provision, properties in Western Australia are sold in the same state and condition as when first inspected. So it is essential for buyers to conduct a thorough inspection. Once you have inspected the property, if you want changes to be made prior to sale or you want to ensure […]

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 […]

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 […]

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 […]