OUR SETTLEMENT SERVICES

• A property lawyer is a qualified legal professional who specialises in property law. They have completed a law degree and are admitted to practice law in WA. They offer comprehensive legal services related to property transactions, including contract advice and conveyancing.

• A settlement agent specialises in facilitating the transfer of property ownership. They are licensed professionals under the Settlement Agents Act who focus on the administrative and procedural aspects of property transactions.

Our professional fees are fixed and quoted upfront so you know what your conveyancing costs will be ahead of time.

Contact us for a fully itemised settlement quote.

The speed at which a property settlement can vary depending on your specific circumstances and the agreements made between the parties involved.

The average time that it takes to settle a property is generally between 30-90 days. It is possible to settle quicker so please discuss your requirements with your settlement agent.

Settlement day is a crucial event in a real estate transaction where the legal transfer of property ownership occurs from the seller to the buyer. It is the day that the buyer becomes the registered owner of the property.

PEXA stands for Property Exchange Australia Limited. It is an electronic property settlement platform in Australia, designed to facilitate the electronic lodgment of documents and the settlement of property transactions.

PEXA enables conveyancers, solicitors, and financial institutions involved in property transactions to complete settlements electronically, eliminating the need for paper-based conveyancing processes.

There is a PEXA fee for this service.

An encumbrance is a legal term that refers to any claim or liability attached to a property that may affect its transferability or market value. It represents a legal interest or right held by a party other than the owner, which restricts the full ownership rights or use of the property until the obligation is satisfied or resolved.

An encumbrance is often (but not always) noted on a property's certificate of title and may include a mortgage, easement, caveat or restrictive covenant, to name a few.

If you property that you own or are about to buy contains an encumbrance you should seek legal advice as to the consequences of that encumbrance.

Transfer Duty, formerly known as Stamp Duty, is a State Government tax imposed on the transfer of property in Western Australia. It is payable by a buyer or transferee upon the purchase or transfer of property, including residential property, commercial property, and vacant land.

Transfer duty is calculated based on the value of the property being transferred.

Certain transactions may qualify for exemptions or concessions, such as first home buyer concessions and off-the-plan purchases.

It is important that your contract or REIWA Offer & Acceptance is lodged for assessment of Transfer Duty within 30 days of acceptance to avoid penalties being charged by the Office of State Revenue.

Foreign Buyer's Duty is a duty imposed on residential property purchases in Western Australia by foreign individuals, corporations, and trusts. It is an additional duty on top of the standard Transfer Duty payable by buyers.

Foreign Buyer's Duty applies to foreign buyers who acquire residential property in Western Australia. This includes properties such as houses, units, apartments, and vacant land zoned for residential use.

The rate of Foreign Buyer's Duty is generally 7% of the dutiable value of the property.

Some transactions may be exempt from Foreign Buyer's Duty. Specific conditions and exemptions apply, and it's advisable to seek professional advice to understand eligibility and compliance requirements.

An Australian Taxation Office (ATO) Clearance Certificate is a document issued by the ATO that confirms an entity or individual has met their tax obligations in Australia.

An ATO Clearance Certificate is primarily used in property transactions involving the sale of Australian real estate by foreign residents. Its purpose is to ensure that the seller (who is a foreign resident) has fulfilled their Australian tax obligations, particularly any Capital Gains Tax (CGT) liabilities arising from the sale.

If you are a foreign resident selling Australian property, the purchaser may be required to withhold a portion of the sale proceeds (typically 12.5%) to ensure that any CGT liabilities are covered. An ATO Clearance Certificate can exempt or reduce this withholding amount.

An ATO Clearance Certificate must be produced by Australian residents and foreign residents if the value of the property is $750,000 or more.