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GST at property settlement: A detailed guide to the new ATO withholding provisions

In this article we outline changes to GST laws that affect relevant property transactions. These laws are set to take effect on 1 July 2018. This guide is intended to provide buyers, sellers and real estate agents with a guide to their withholding obligations. We aren’t tax advisors, lawyers or accountants. Please seek the appropriate …

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A Timely Reminder - Verification of Identity Now Required for Buyers

A Timely Reminder – Verification of Identity Now Required for Buyers

Landgate’s Verification of Identity (VOI) requirements for property sellers within WA have been in place since July 2012. To date these measures have been an effective way of minimising the likelihood of fraudulent real estate transactions. Since then, updates to the Land Titles Registration policies mean there is now a requirement for VOI for property …

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How the REIWA structural inspection annexure could compromise your legal rights

How the REIWA structural inspection annexure could compromise your legal rights

If you’re buying an older property it makes sense to ensure it’s structurally sound before committing to the purchase. The most common way to obtain this assurance is to make your offer subject to a structural inspection. Because it’s so common, most agents make use of a ‘standard’ structural inspection condition that’s attached to the …

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6 things you need to do after accepting an offer

6 things you need to do after accepting an offer

Congratulations! Your agent has done their magic and you’ve accepted an offer. Now all that stands between you and settlement is the buyers getting their finance and a couple of property inspections. Nothing to it, right?! Not so fast. Between now and settlement there’s plenty for you to do. As far as settlement goes we’ve …

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A comprehensive guide to completing your pre-settlement inspection

If you’ve bought a home using a standard REIWA Offer and Acceptance you’re entitled to complete a pre-settlement inspection. But your right to complete that inspection has limits, as we explain below. What is a pre-settlement inspection? A pre-settlement inspection allows you to check that the seller has complied with their obligations under the contract. …

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First home owners grant and rebates – 5 things you need to know that could save you thousands

It is often said, “It’s not what you know, but who you know in life that counts.” But when it comes to First Home Owners Grant and Rebates, knowing what is available and who can help you with the process are equally important. Because ongoing changes to the government’s First Home Buyers Grant and Rebates …

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Enduring Power of Attorney: Don't overlook the details

Enduring Power of Attorney: Don’t overlook the details

What is an EPA? An EPA (Enduring Power of Attorney) is a legal document that allows you to appoint someone (known as an attorney) to manage your property and financial affairs in your best interests when you are unable to do so yourself. You can authorise your attorney to make property and financial decisions on …

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What can Delay your Finance Approval

What can delay your finance approval? Find out here

The Perth property settlement process involves moving parts that all need to come together for settlement day. These include paperwork, legal documents and transfer papers. Finance approval is an important part of the process and one that is delayed or taken for granted by property buyers. The list of items required to process and approve …

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Why safety should be your top priority when selecting a settlement agent

Why safety should be your top priority when selecting a settlement agent

Caveat emptor – let the buyer beware. So goes the old adage, and a handful of Perth people have learnt this lesson the hard way. A recent ABC News report told the story of one such victim. An elderly pensioner was in the process of purchasing a property in Perth’s western suburbs when internet scammers …

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