Buying a home is one of the most important investments you are likely to ever make so it is important to feel comfortable with your settlement agent to ensure that you are made aware of all the opportunities and pitfalls that may potentially arise.

At iSettlements we pride ourselves on being a friendly, helpful and approachable partner in your journey toward owning your new home. We encourage you to speak openly with us regarding any concerns or questions you may have.

Helpful Hints for Buyers

  • Make enquiries to determine the total costs involved in buying a property. You may wish to consider:
    • Stamp Duty
    • Settlement Fees
    • Insurance
    • Rates
    • Bank Fees
    • Building/Termite Inspections
  • Never make a “cash” offer if there is any uncertainty about your ability to finance the purchase. Remember that a contract is a legally binding document.
  • Be precise with special conditions on the offer and acceptance. Never assume that any condition is automatic.
  • Ensure your details are correct on the offer and acceptance (eg: use your full legal name). If the purchaser varies from the transfer of land to the offer and acceptance, the Office of State Revenue may view this as an “on sale” and you may be liable for additional stamp duty.
  • Provide all necessary documentation to your broker or lending institution as soon as possible if your contract is subject to finance. Banks normally require 21 days to process and approve applications and then a further 28 days to finalise the settlement.
  • We will notify the Water Corporation, local government authority, Strata Company (if applicable) and the Office of State Revenue of the change of ownership and attend to payment of any outstanding charges. It is your responsibility to notify the other utilities (ie: Synergy, Alinta Gas, telephone and insurance companies etc) of the ownership change.
  • If the property is vacant and the contract is not subject to any existing tenancies you should receive possession immediately following settlement. If the seller resides in the property you are not entitled to possession until 12 noon the day after settlement.
  • Always advise your settlement agent if you are going to be away during the settlement process and always sign and return all documentation as soon as possible.