Your property settlement can be a very stressful time, here are some tips or queries to help you along

Why do I need a Settlement Agent in Perth?

Settlement Agents in Perth are licensed with the Department of Commerce Western Australia.  We have a Code of Conduct to uphold, and are regularly audited by statutory departments in Western Australia to ensure that we are representing buyers and sellers in Western Australia in accordance with the prescribed legislation.

We liaise with your bank, broker, real estate agent, other party's settlement agent to manage the financial, physical and legal obligations when conducting your property settlement.

We balance Shire and Water rates, pay your Stamp Duty on your behalf and ensure that your property transaction is conducted efficiently and correctly.

You do not have to appoint an agent, you can represent yourself, however it is particularly risky if you don't know where to go or what to do. Settlement agents understand property law and are licensed to undertake the largest transactions of many peoples lives.

How do I appoint Seacrest Settlements to act on my behalf?

You can contact us by telephone, email or through the website and we will respond within the day to answer your query. Then to start the process we will need a copy of your Offer and Acceptance or agreement and we can commence your paperwork.

When do I notify the Shire or Water Corporation of Settlement?

Seacrest Settlements will notify the local shire, the Water Corporation and your strata management of the change in ownership. A buyer or seller will need to organise the power, gas and telephone accounts personally as we are unable to do that on your behalf.

Can I change Settlement Agents?

Yes you can, you are able to change your Settlement Agent if you feel you are not being represented properly or you would like to appoint another agency. Many Real Estate Agencies will appoint an agent on your behalf but you are in no way obliged to use their preferred agent, particularly if you think there may be a conflict of interest.

Seacrest Settlements are independent and will act in your best interests. We do not pay fees or commissions to Real Estate Agents.

What is included in my fee?

When acting for a buyer or seller for their residential property settlement we like to set the fee and advise you of all your disbursements and Statutory Charges before you appoint us. We do not charge extra if your file becomes challenging or if more work is required, we include this extra work as part of the service.

 

How long will my Settlement take?

This depends on whether your deal is cash or whether a bank will be providing funds. Typically banks can take up to 28 days to prepare for settlement whether that be to discharge your mortgage or prepare for a new mortgage. Cash deals can be settled quicker. The settlement date is never guaranteed so make sure you let all parties know if you will be away or if there are any factors affecting your settlement.

I work FIFO, can you help me?

Yes, we have completed many settlements for Fly In Fly Out workers. We just need to catch you when you are in Perth or when you aren't offshore and we can help you effect settlement. We also have brokers that specifically help out with FIFO workers who we can put you in touch with if you are struggling to get someone to help you organise your finances.

I have lost my Title, can you help me?

Yes, we have located many Duplicate Certifates of Titles over the years. Do not stress, we can help you either locate your title or undertake the process for a new one. Please contact us to discuss the process and we will help you get started as soon as possible.

When will I receive my funds from a sale?

Currently the practice is to exchange bank cheques at settlement, therefore funds can take from 1-3 working days to clear. E-conveyancing through the PEXA platform provides cleared funds moments after settlement. We therefore recommend e-conveyancing, or electronic settlements if you would like your funds as soon as possible after settlement. Seacrest Settlements are utlising PEXA (e-conveyancing, e-settlements, electronic settlements) where possible to ensure that the transactions are completed in an efficient manner.

When will I receive my Certificate of Title from a purchase?

If you have paid cash for your property and no bank or financial institution is involved, you will receive your title, or a copy of your title as soon as Landgate have registered the Transfer. Currently for property settlements in Perth Landgate can take from 2-6 weeks to update the Land Registry, however, if you choose to sette utlising PEXA (e-conveyancing, e-settlements, electronic settlements), your title should be updated by close of business on the day of settlement.

This means that if you settle utlising PEXA (e-conveyancing, e-settlements, electronic settlements), and you need to show your Builder proof of ownership to start building, you could have the title to them by the next business day.

If your transaction was settled through a bank or financial institution, they will keep your Certificate of Title until you have paid the mortgage off, however the Land Registry will be updated to reflect your ownership and you will receive a copy as per the time frames mentioned above.

Will you match a quote I have received?

Whilst we do endeavour to offer a competitive price, we will only match a flat rate settlement fee or quote where the quote is genuine and discloses all the fees and disbursements that will be charged by another settlement agent. We are required to disclose to you all of our fees and disbursements prior to agreement, so if you would like us to match a quote please ensure it is a genuine quote and not just a pamphlet that you have received in your letter box as this may not be a genuine final price or flat rate for the settlement.

What are some of the disbursements associated with my settlement?

When acting for a purchaser, we undertake an Electronic Advice of Sale which notifies the Office of State Revenue to provide a regarding land tax, the Water Corporation (to provide a rate statement), and your local shire. This fee can vary as each Shire charges a different fee for conducting the service.

We also undertake Title Searches which currently cost $24.85. There is also a fee of $107.80 for an e-settlement. These fees change yearly.

When acting for a seller there are fewer disbursements incurred by your settlement agent.

Many agencies are now offering a flat rate settlement fee where the fee charged is not dependent on the value of your property sold. We are required to disclose all disbursement to buyers and sellers which should be considered when comparing price.