Importance of consulting a settlement agent when buying/selling property
Transferring property ownership is the primary focus of all settlement agents – whether in Bunbury, Busselton, Dunsborough, or Margaret River. Yet with so many components, this process can differ entirely depending on your own personal circumstances. When it comes to either the sale or purchase of property, consulting with settlement agents is of vital importance. They’ll ensure the property on the Offer and Acceptance is the correct one – also guaranteeing all the contract conditions are efficiently completed while preparing the necessary documentation to be signed by both parties. Irrespective of whether you’re buying or selling, agents will attend settlement on your behalf, as well as adjust shire and water rates to assure they’re all paid up to date upon settlement.
When it comes to buying (a significantly more complicated process), settlement agents will alert you to any burdens or encumbrances which may affect your enjoyment or use of the property. They will also correspond with your lender to ensure they’re in a position to settle on the due date with all available finances progressing in a timely manner. Confirming that no outstanding government department orders have been placed on the property and that the seller’s agent collects the correct amount on their behalf are additionally taken care of by settlement agents. They’ll also ensure any applicable stamp duty is paid in the timeframe specified by State Revenue to have the property be transferred into your name post settlement.
When selling in Western Australia, settlement agents also converse with your lender to make sure they’ll be in a position to eliminate any mortgages over the property. They’ll additionally communicate with the buyer’s settlement agent in order to ensure their finances are stable for a prompt settlement. Agents will also collect the correct amount you’re owed by the buyer, distributing capital as instructed.