Residential Settlements

Just in from the Australian Institute of Conveyancers WA is this timely advice for settlement agents:

It has come to the attention of the Institute that there is some confusion regarding Clause 5 of the Joint Form of General Conditions for the Sale of Land 2009.

The Clause allows for “One Final Inspection” for the purchaser before Settlement. Should some issues be identified that need rectification, there is no provision for a further inspection to ensure that the issues have been rectified.

This being said, the Institute fully supports co-operation between the Seller and Buyers agents, who should try to negotiate a suitable time for further inspection. Please remember that it is a large investment for most clients and to make the experience of settlement as pleasurable for them as possible… and next time you could be negotiating with the same Conveyancer on the opposite side of the deal!

The Institute promotes all Conveyancers working together for the best outcome of all clients, and working together to achieve an effective, efficient and harmonious Settlement.

Buying and selling is usually a stressful time for all concerned. It’s been our experience over many years that the smoothest deals are when everyone involved in a property transaction look for ways to co-operate.