Buying a Property
The Perth property market has experienced significant growth in the past few years
Western Australia (WA) is home to not only a highly livable city but also some of the fastest-growing property areas in the country.
Purchasing a property in Perth is a substantial undertaking, and it’s no wonder that the average buyer can feel overwhelmed by the legal requirements and obligations associated with the process.
In today’s real estate landscape, the concept of “paying for what you see” is no longer sufficient. Prospective purchasers must pay meticulous attention to detail and seek professional advice before making a property purchase, ensuring they avoid any unpleasant surprises in the future.
Your settlement agent, conveyancer or lawyer, will complete a variety of tasks on your behalf including:
- Search land titles to verify the legal owner and check for encumbrances, caveats or any other restrictions that may limit the use and affect the transfer of the property.
- Search government departments and local authorities for anything that may affect the property.
- Ensure all inspections and any special conditions in the contract have been completed to your satisfaction before settlement takes place.
- Prepare and verify all necessary legal documents and forms.
- Ensure you have conducted your final inspection and all parties are ready for settlement.
- Make enquiries to local shire, water authority, land tax authority and strata company, adjust rates and make payments accordingly to ensure you only pay for the exact days you have owned the property, starting from the day after settlement.
- Liaise with your financial institution to ensure all loan documentation is completed and the funds required to proceed to settlement are in place.
- Coordinate the settlement date and time with your financial institution and the seller’s settlement agent.
- Provide updates on settlement progress and advise you of any potential delays, including your rights when it comes to compensation.
- Attend settlement on your behalf to ensure correct exchange of legal documents and funds and let you know once settlement has occurred.
- Prepare legal paperwork to transfer the title of the property to you.
- Notify the relevant authorities about the change of ownership when settlement has occurred.
- Provide a settlement statement.
Contact our team today to discuss your ideal property and let us help you find and buy it.