Mandurah Settlement Services has released a free checklist to help property buyers and sellers cut through the clutter and get to the most important aspects of property settlement and the conveyancing process that are essential for a smooth sale in Western Australia. The full list can be found on the company’s website, https://www.mandurahsettlements.com.au/
The 6-part checklist includes the following important information:
Property Settlement – The legal process that transfers the ownership of a property from one owner to another. The aim of property settlement is simple, although regulations and compulsory procedures mean that the settlement process itself is complex and time consuming. In simple terms, property settlement is when the balance of the property sale price is paid, and it is usually conducted by the settlement agent’s (also called conveyancers) of the buyer and seller. It is important to be aware of any deadlines and agreeing to a final figure for settlement before we attend settlement on your behalf to make sure everything occurs correctly, and the property title is passed.
Property Contract of Sale – It is important to negotiate and review the contract prior to the exchange with the vendor. Make sure you and the vendor are aware of any concerns and then the conveyancer’s will oversee the exchange of contracts to ensure it is done according to the legislation.
Property Insurance – The lending institution acting on behalf of the buyers will recommend taking out building and contents insurance effective from the date the seller signs the contract. This is protect the interest in the property of both the lending institution and the buyer.
Property Financing – The buyers settlement agent will liaise with the lending institution to finalise finance and deal with the payment of the deposit and settlement sum. As a buyer, your settlement agent will advise of stamp duty payable and assist with any application for exemption of stamp duty.
Check Certificate of Title for Property – The buyers settlement agent / conveyancer will send a plan of the land so that the buyer can ensure the measurements and boundaries match the Certificate of Title. In Western Australia a copy of the Certificate of Title can be ordered from Landgate to find current ownership information for the property and the dimensions of the land boundaries.
Apportion of Rates and Charges – During the property settlement process, the buyer’s agent and the seller’s agent will need to work out the share of rates and other charges each party must pay. The buyer’s conveyancer will ensure there are no outstanding water or council rates amounts owing on the property and check for any outstanding special government levies or strata levies.
When asked about the reasons behind providing the information checklist, Judith – Licensed Settlement Agent of Mandurah Settlement Services said,
“While Mandurah Settlement Services may not be the only business to offer a settlement agents service, I believe we do it the best and so people will continue to choose us, because we offer first class customer service to our clients, whether in Mandurah, Rockingham, Perth, or elsewhere in Western Australia.”
The information sheet is available for free and property buyers and sellers are encouraged to share with others who may find it useful. Interested parties who would like to talk with Judith and the team at Mandurah Settlement Services are encouraged to visit the website at https://www.mandurahsettlements.com.au/, or to give them a phone call (+61895357677) for a chat and arrange a quote.
Mandurah Settlement Services
3/33 Davey St,
Mandurah WA 6210
+61 8 95357677
Release ID: 528046