Property settlement is the finalisation of a real estate transaction between a buyer and a seller.
We are an independent, reliable Rockingham Settlement Agent that can help with your settlement requirements anywhere in Western Australia. At Sterling Conveyancing & Settlement Services our main aim is to ensure that the settlement process for you our customer – whether you are selling or buying – runs as smoothly and stress free as possible.
From the date we receive the Contract we will be communicating with you to guide you through the whole settlement process. During the course of the property settlement we will be liaising with you, with the Settlement Agent acting for the other party, with your real estate representative, with your Mortgagee and with all of the various rating authorities to ensure all necessary aspects of the settlement are progressing as they should be.
If you’re unsure of what the next steps are in finalising your property purchase, Cate Penny shares the process below. You can also download the
Perth Property Settlement and Conveyancing Fact Sheet by clicking here.
What is a property settlement?
Property settlement refers to the process of transferring a property from a seller to a buyer, when the conditions of the standard contract for the sale are fulfilled. In most instances before a property settlement can occur, both the buyer and the seller must have signed a contract of sale. In Western Australia, the standard residential sales contract has two sections:
- Contract for Sale of Land or Strata Title by Offer and Acceptance (Offer and Acceptance); and
- Joint Form of General Conditions for the Sale of Land (General Conditions).
The signatures of the seller and the buyer on the Offer and Acceptance indicate that the parties agree to the conditions of the contract, including the purchase price.
Setting a time for settlement.
When entering into an Offer and Acceptance to buy or sell a property, there is provision to nominate a date for settlement.
Whether you are the buyer or the seller, consider your particular circumstances when nominating a settlement date.
Get in contact with us
We’ll be more than happy to
answer any questions you may have.
We will definitely be recommending you to anyone buying or selling.
All the best for the future Cate, it was a real pleasure.
Jo & Shane