Settlement Agents in Perth

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A Guide to Perth Settlement Agents.

Most buyers and sellers are aware that they need to hire a settlement agent, but they’re not sure exactly why. In this guide, we de-mistify the work of settlement agents and explain how you can find a good one in Perth.

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What is a settlement agent?

A settlement agent is an agency that handles property transactions.

In other words, they’re the people responsible for transferring a property from one owner to another – so every time you want to buy or sell a property, you’ll need a settlement agent.

A settlement agent’s office typically has multiple conveyancers who do the actual work of transferring a property. Conveyancers are professionals who understand how to properly:

Search for Title deeds and other necessary documents

Complete official Transfer of Title documentation

Liaison with all involved parties to ensure the clauses of the Offer and Acceptance are met

Ensure rates are paid and their clients finances are sorted

Attend settlement on your behalf (often, an outside clerk will do this instead)

Can’t I do this myself ?

While individuals can legally attempt to settle their own property, the Department of Commerce cautions against it. For this reason, most people use the services of a licensed settlement agent to perform the work of conveyancing.

Unless you are a suitably qualified lawyer, it would be very unwise to try to carry out the settlement of your own property. It’s a complex and time consuming business, with many traps for the unwary.

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What does a settlement agent do?

As we mentioned before, the main task of a conveyancer is to transfer ownership of the property. This task has many components, which differ depending on your circumstances and whether you are buying or selling the property – buying is a much more complex process.

If you’re buying a property, your conveyancer will:

Ensure the property on the Offer and Acceptance is the correct property you intend to purchase

Make sure that you’re aware of any encumbrances which could affect your enjoyment of the property

Ensure you complete all conditions of the contract on time

Liaise with your lending institution to ensure finance progresses in a timely manner and your lender is in a position to settle on the due date

Ensure no outstanding orders have been placed on the property by government departments

Ensure your finances are all available for settlement date and ensure the seller’s agent collects the correct amount on behalf of the seller

Prepare the correct documentation and ensure you sign it

Ensure stamp duty (if applicable) is paid in the timeframes specified by State Revenue

Adjust shire & water rates and ensure they are all paid up to date at the time of settlement

Attend settlement on your behalf, and finally

Ensure the property is transferred into your name after settlement

If you’re selling a property, your conveyancer will:

Ensure the property on the Offer and Acceptance is the correct property you intend to sell

Ensure you complete all conditions of the contract on time

Liaise with your lending institution to ensure they will be in a position to remove any mortgages over the property and ensure they’re ready to settle on time

Liaise with the buyer’s settlement agent to ensure their finances are in order and they’re ready to settle on time

Prepare the correct documentation and ensure you sign it

Adjust shire and water rates and ensure they are all paid up to date at the time of settlement

Collect the correct amount you are owed by the buyer and distribute as you instruct

Attend settlement on your behalf

Settlement agents in Perth

There are hundreds of settlement agents in Perth – after all, settlement is a necessary process for everyone buying or selling a home in Western Australia, so conveyancers are in demand.

Whether you’re a seller or a buyer, get a quote to have us handle your property settlement. See our Property Settlement 101 page for an even more comprehensive overview of the settlement process.

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How to choose a Perth settlement agent

There are a few things that distinguish settlement agents:

Age Often, being older means an agency’s practices and attitudes towards property settlement have stood the test of time. An older settlement agent could well be better.

Processes The settlement process involves several key compulsory steps – but how those steps are handled varies. A settlement agent is only dependable if their processes – ie. when steps are done, how they keep track of their work, and who they communicate with – are effective and well thought out.

Attitude The attention and care a conveyancer puts into each property transaction – in other words, their attitude towards the settlement – is unavoidably going to impact on the successfulness of a settlement. The best settlement agents minimise mishaps by accepting each settlement as unique.

No matter which criteria you judge us by, Residential Settlements is a great settlement agent. Here’s why we’re the best in Perth

We’ve been around for a long time – 27 years, to be exact. In that time, we’ve learned what makes a settlement work, every time.

We have tightly managed processes. All our conveyancers are extremely knowledgeable about settlements in their own right. Combined with processes that keep everyone on the same page, our team won’t let any detail slip through the cracks.

We treat you as a person, not a file. We know that each settlement is unique, so we communicate with you, your real estate agent, and the other party to make sure we know all the important details that could influence your settlement.

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