We have no desire to be the cheapest settlement agent around; we want to be the best. We want to offer our clients a high quality and timely service to avoid costly delays, to ensure that we are available to chat and answer any and all questions that our clients have and to ensure that their property transaction is carried out stress free for them. PLUS Joanne has over 40 years’ experience in the industry!

This extra care and attention to detail sees us spending a lot of extra time on our files and this comes at a cost. Oftentimes a bank will call with a property address or client name and I can recall each detail without having to pick up the file.

A Case Study –

 We were recently nominated to act for the purchaser of a large commercial property. Our client forwarded us the quote from the other conveyancer.

We were able to match the conveyancing fees offered by the other agent, however, our disbursements and outgoings were significantly less (just under $200) something which some agents disguise by breaking down all of their expenses into smaller, less significant amounts.

In addition, we made a few enquiries. Where the other agent had quoted the general rate for Stamp Duty, we deduced that the property included a home which would be the purchasers residence. This saved our purchaser almost $3,000 in Stamp Duty costs all from a few phone calls and email enquiries on our client’s behalf.

Sometimes, even though you’re paying less in upfront fees you don’t know what you’re missing out on in the long run.

Joanne and I are both Licensed Settlement Agents meaning that we are required, each year, to undergo continuous professional development to ensure that we keep abreast of industry changes, updates and regulations. It also means that each time you call or email, you’ll be speaking to someone who’s a qualified conveyancing professional, a lot of the Real Estate Agents in the area call us to ask questions before they list a property with an unusual circumstance. And I assure you, if we don’t know the answer to your question, we know how to find out.

So, while we won’t compete on price we can offer you an affordable and quality service. It’s why we’ve had loyal customers coming back to us time and time again for the past 40 years.

Your home is probably the most expensive purchase or sale that you’ll ever make.

So ask yourself, what is that worth to you?

And remember; you can either have things done fast, cheap or well; but you can only pick two.

Electronic Conveyancing is possibly the most exciting innovation to the settlement industry since the introduction of the Torrens Title system in WA.

Here at Payne Conveyancing we are proud to have successfully executed more than 20 online dealings through the PEXA Electronic Conveyancing forum.

E-Conveyancing will be mandatory for all conveyancing transactions from the 1^st May 2018 but for now it is elective provided that the transaction is within scope.

The benefits of E-Conveyancing are abundant;

Sellers;

o   You will receive the proceeds from your sale within 20 minutes of settlement* as cleared funds (as opposed to waiting 3 days for bank cheques to clear)

o   You will no longer have to pay Bank cheque fees

o   No more Settlement attendance fees by your bank

Buyers;

o   Your name and interest will be immediately registered on the Title Deed

o   Increased security; Electronic Conveyancing performs check searches every 15 minutes which will immediately notify your settlement agent if there is anything lodged against the Title which they need to be aware of during the process.

*Please note that this may vary between banks as they all currently have different policies on releasing funds following settlement. In our experience all sellers have received their cleared funds on the day of settlement but we have been advised that in some instances this may not be the case.

As at the time of writing the current cost to the client of completing a transaction on the PEXA platform is $110.55.

If you would like any more information on PEXA, E-Conveyancing or paper settlements please do not hesitate to contact our office on (08) 9257 2181

WHEN purchasing a block of land stamp duty is charged at the ‘general rate’  where no house exists on the property.

Once you sign a building contract, however, you may be eligible for a rebate on the duty paid. If you think this applies to you please contact our office and we’d be happy to send you out the relevant forms. Alternatively, you can download the form from the website below, complete all of the information that you can, sign and forward it to us and we’ll take care of the rest!

If you have any questions at all, don’t hesitate to contact us.

https://www.finance.wa.gov.au/cms/uploadedFiles/_State_Revenue/Duties/Forms/Residential_Rate_Form.pdf

The current eligibility criteria as at 14^th February 2017 is as follows;

• The home must be purchased for no more than $400,000,
• The applicant must be a first home owner and not currently or previously owned property in WA,
• The home must have been purchased through a licensed real estate agency,
• The home must be financed by a bank or lending institution,
• The home must be established or partially built at the time of writing the offer and acceptance, cannot be a plan to build,
• The home must be the applicants principal place of residence for at least the first 12 months following settlement,
• The application must be lodged within 90 days after acceptance of the offer to purchase the home.

For more information including the application form please see the Department of Commerce website below or contact our office on (08) 9257 2181

http://www.commerce.wa.gov.au/consumer-protection/home-buyers-assistance-account

The Offer and Acceptance is generally completed by the person wishing to purchase the said property with the assistance of a Licensed Real Estate Agent. This constitutes the offer section of the contract. Once the potential purchaser has input their details, the property details, the price they wish to purchase the property for and details of any conditions to the contract and will then sign the offer. The Real Estate Agent will then present the offer to the seller who can accept, decline or negotiate on that Offer.

Once a purchase price and all conditions have been agreed to by both parties the seller will sign to indicate their acceptance of the offer at which point, if executed correctly, the Contract will be legally binding to both parties.

+ Things to think about +

Deposit – the agreed deposit amount must be paid in the timeframe specified on the contract to ensure continuity of the contract.

Conditions –  A condition is anything which is required to be completed by either the buyer or seller prior to settlement. Some common conditions are;

• Finance approval – where funds are required from a bank
• Subject to sale – where a property is required to be sold
• White ant report – a report from a reputable pest control company
• Building report – a report from a registered builder stating that the building is structurally sound.

Conditions will depend on the type of property being sold for example an offer for vacant land would not generally require a building report.

It’s important when writing an offer to consider whether there are any other issues which would influence your decision to buy or sell the said property. A buyer for example may wish for car bodies or scrap metal to be removed from a property prior to settlement, however, it may be the sellers intention that they remain. OR a seller may wish to take a chandelier from the living room which was a family heirloom. Contracts generally state that fixed lighting is to remain at the property however exceptions can generally be made where they are agreed to by both parties at the time of writing the offer. To avoid any issues arising later on it is best to express your wishes to the Real Estate Agent at the time of writing or signing the contract to ensure that these are included in the Offer and Acceptance document and agreed to by all parties.

Conditions will always have a time for completion. It is important that the conditions be satisfied within this timeframe. If this is not possible it is best to contact the Real Estate Agent to arrange for a variation which will allow more time in which to complete the condition if agreed to by all parties.

If you are ever uncertain about any aspect of an Offer and Acceptance you should always speak to a Real Estate Agent, Settlement Agent or Solicitor prior to signing it.