Property Settlements

 

What is a property settlement?

A property settlement is the end of the sale or purchase process where the legal ownership of the property is changed. The settlement process begins from the time a Contract for Sale is entered into to the point where the title for the property is registered into the name of the new owner.

As your settlement agent, we communicate with you and all relevant parties (such as the real estate agent, your lender, the other party’s settlement agent, local council and Water Corporation) to coordinate the successful transfer of funds and property ownership.

Process

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Appoint Prime Settlements on the Contract or let the real estate agent know that Prime Settlements is your settlement agent.

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We'll review the Contract and inform you of the important dates and details.

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You sign your loan documents (if you are buying) or your Discharge of Mortgage Authority (if you are selling).

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We deal with your bank, the real estate agent, the other party's settlement agent, Office of State Revenue, the local council, Water Corporation and the strata manager to ensure all parties are on track for settlement.

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If you're a seller, you'll usually receive the settlement proceeds on the same day as settlement.

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If you're a buyer, we'll provide you with a search of the Certificate of Title registered in your name after settlement takes place.

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You are kept up to date throughout the settlement process.

Our Experience

We can act for you if you’re buying or selling residential, commercial, strata or vacant property in Western Australia. We aim to take the stress out of what is usually the biggest financial transaction of your life. 

Each settlement is different and has a unique set of procedures from the time of signing the Contract to the eventual new of a successful settlement and transfer of ownership. 

Our experience has led us to create and develop procedures that ensure we can guide you through the legal requirements in an efficient manner. 

You can be assured that no unexpected settlement fees arise as we value transparency in relation to our fees. Our professional fees are fixed for settlements based on whether you are a seller or buyer and if there is finance involved. 

Fixed Price Settlement Fees

 

Click here to find out our fixed price settlement fees.

Settlement Resources

Transfer Duty Calculator

If you’re buying, you’ll likely be paying Transfer Duty (formerly Stamp Duty).

Foreign Resident Capital Gains Withholding

If you are selling your property for $750,000.00 or above, you are required to provide an FRCGW clearance certificate, failing which an amount will be held from settlement and paid to the ATO. Click below to complete the application form online. 

First Home Owners

If you’re a first home owner, you may be entitled to the First Home Owners Grant and/or the First Home Owners Rate of Duty. 

Let’s Work Together