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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 […]

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 […]

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 […]

I’ve sold my house. When do I move out?

By on in Buying, Selling

Congratulations! The settlement of your property  is a big achievement, and it’s time to move on!  How soon you need to vacate the property depends on the terms of your contract or, as it’s generally known, the Offer & Acceptance (O&A) and General Conditions. Read more… Under the General Conditions once settlement takes place, the new owner is entitled […]

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 […]

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 […]

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 […]

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 […]

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 […]