Verification of Identity (VOI) Requirements - Don't leave it to the last minute.

Verification of Identity (VOI) Requirements – Don’t leave it to the last minute.

Within Australia, the stringent requirements surrounding a seller’s Verification of Identity (VOI) makes early preparation and collation of the necessary documents key factors to ensure a smooth settlement process and avoid delays. An archive case demonstrates both the critical nature of early preparation and the importance of having all of the relevant identification documents close …

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RCDs, Smoke Alarms and Electrical Safety - Compliance Alert Reminder

RCDs, Smoke Alarms and Electrical Safety – Compliance Alert Reminder

Western Australian state law requires that every dwelling must have the following in place before being sold or rented: A minimum of 2 Residual Currency Devices (RCDs) plus At least one hard-wired smoke alarm, depending on the layout of the property. In fact, due to the importance of this mandatory requirement, we have covered this …

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Risky Business

Risky Business – Going Unconditional Without Finance Approval

We have been asked “Is it possible to go unconditional on an O & A contract, which is subject to finance, without finance approval being gained?” The short answer is “Yes”, however we don’t recommend this course of action We were reminded of this recently when a long term client shared an archive case story …

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When Things Don't Go To Plan - 5 Steps to Getting a Settlement Back on Track

When Things Don’t Go To Plan – 5 Steps to Getting a Settlement Back on Track

As the poet Robert Burns wisely said, “even the best laid plans…can go astray,” and this is particularly true when it comes to completing an Offer and Acceptance and managing the subsequent settlement process. Let’s face it, sometimes “stuff happens” and things just don’t go to plan, even for the most experienced of agents. Not …

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Seeing Double: When 2 Contracts = Double the Stamp Duty

Seeing Double: When 2 Contracts = Double the Stamp Duty

Having completed thousands of settlements for our clients over the last 29 years, it’s easy to understand that the team at Residential Settlements have pretty much “seen it all” when it comes to handling O & A’s and the settlement process. However, a current case literally had us “seeing double” when an unfortunate error made …

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The usual suspects: avoid this common cause for disputes

The Usual Suspects: Avoid this common cause for disputes

When it comes to disputes arising between buyers and sellers during the settlement process, it can often be a case of looking for “the usual suspects” for a probable cause. In particular, we find that the “Good Working Order Clause”, if not handled correctly, attracts its fair share of contention between parties. This was clearly …

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Avoid these 2 common issues which cause delays

Avoid these 2 common issues which cause settlement delays

Settlement delays… No one wants them, however we have found it can often be the most routine and run of the mill issues which can “slip through the net” and potentially result in stressful delays when it comes to completing a property settlement on time. A recent “close shave” case illustrates how a combination of …

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