Why You Need A Perth Settlement Agent

Why You Need A Perth Settlement Agent

Why you should always use a settlement agent when buying or selling property

A settlement agent prepares the legal documentation and completes the financial transaction between the seller and buyer to change the ownership of the property. If you don’t have a settlement agent, then you don’t have someone who is fully qualified and experienced in protecting your best interests.

The job of a settlement agent is complex, and you have to have the contacts, qualifications and skill to get the job done properly. As your settlement agent, we review the contract, including all the conditions that are required to be met, we prepare all legal documentation to effect the change of ownership

We liaise with not only you as our client, but the bank, the broker, the real estate agent, various government authorities and anyone else who is involved in the dealing to ensure that your settlement transaction is completed efficiently and successfully.

Of the many things a qualified settlement agent does includes:

  • Search the property title to check legal ownership with Landgate
  • Follow up outstanding conditions i.e. finance, inspections, etc
  • Review inspections reports on behalf of buyer
  • Supply discharge release form to seller
  • Lodge contract with the Office of State Revenue
  • Arrange for Transfer of Land to be signed prior to settlement for paper settlement
  • Adjust and portion shire rates, water rates, land tax, strata levies, water consumption and attend to arrears
  • Liaise lender ensure action discharge request in a timely manner to be ready in time for settlement 
  • Liaise lender follow up outstanding new mortgage documents
  • Ensure sellers obtain and provide ATO clearance for property over $750,000
  • Check First Home Owner application lodged and approved
  • Obtain payout figure from the Lender to repay the housing loan
  • Provide bank cheques directions
  • Attend settlement at the buyer’s bank in Perth for paper settlements
  • Pay any arrears owing to shire, water, strata, land tax
  • Pay real estate agent balance commission
  • Pay GST on contract to the ATO
  • Pay tax to ATO for properties over $750,000 without clearance certificates
  • Bank surplus funds to clients nominated bank account
  • Confirm settled in writing provide final statement, GST invoice
  • Email real estate agent to confirm property settled
  • Hold funds at settlement to attend to water consumption or interim rates
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