Buying a Property

We understand that buying a property can be daunting.  When you engage Metro Settlements, we’ll be here for you every step of the way and you’ll have peace of mind knowing we’ve got everything covered.

A flow chart depicting the stages of buying a property, including preparation, pre-settlement, verification of identity and post-settlement.

Preparation

Generally, it’s best to engage a Licensed Settlement Agent (Conveyancer) prior to entering into a contract to purchase a property.  That way you have an advocate for your best interests who can help you navigate your way through this often overwhelming process.

Metro Settlements can assist you to ensure that all the necessary conditions are included in your offer and that the Contract meets your needs, including:

  • An appropriate settlement date for you.  Do you want to settle on a particular day, or not before a certain time?  Are you FIFO, going on holiday, or otherwise not available during the course of settlement?  Don’t get locked into a tight settlement date, and risk incurring penalty interest for the delay.
  • A draft Contract that addresses your concerns.  Are you worried about zoning, council approvals or any other factors that may affect the property you’re looking at buying?

Speak to Metro Settlements about what preparations you can make now to ensure that your settlement will be as easy as possible.

Metro Settlements takes the guesswork and stress out of the settlement process.

Pre-Settlement

Once you’ve signed the Offer & Acceptance Contract and it has been accepted by the Seller, your Real Estate Agent will forward a copy to us so that we can prepare the initial paperwork.

Metro Settlements is known for our fast turnarounds, and your initial documentation will generally be posted to you within 48 hours.  We also offer an email service, if you prefer to receive documents electronically.

At this point, your Conveyancer will be in touch with you to discuss the pertinent dates of your Contract and any factors which may affect this, such as holidays or work.  

It’s important to ensure that any conditions such as finance or inspections (white ant, building and so on) are completed by the due dates specified on the Contract.  If you require an extension of time on any conditions, please let us know as early as possible so that we may attempt to negotiate an extension on your behalf with the seller or their representative.

To ensure that your settlement progresses smoothly, you should also ensure that all of your bank and settlement paperwork is signed and returned promptly.  

We know that this can sometimes be overwhelming, so we’re available to discuss any questions that you have.  You can telephone, email or even pop in and visit your Conveyancer!

Verification of Identity (VOI)

Under WA law, all buyers in WA are required to be identified by their Conveyancer prior to settlement.  A combination of ID documents, such as your current Driver’s Licence, Passport, Birth Certificate or Medicare Card is usually sufficient.  Get in touch with our office if you’re unsure of which IDs you’ll need.

How to verify your identity

We offer three options for you to complete your identification:

  • Come into our office, at no extra charge.  We’re conveniently located in Perth’s CBD, with ample parking and easy access to public transport.  Just contact your Conveyancer to make an appointment
  • Go to your local Australia Post outlet.  Before you go to the post office, get in touch with  your Conveyancer so they can send you the necessary form, with our unique barcode to ensure that your ID reaches us safely.  Australia Post currently charges $44.00 per person to verify your identity.*
  • Have an ID Secure agent come to your home or office.  We can arrange for an accredited and fully insured ID Secure agent to visit you at a time and place that suits you.  ID Secure currently charges $79.00 for one person or $99.00 for two people (for ID checks completed at the same time).

Things to keep in mind

If you don’t have a current Passport, current Driver’s Licence or Birth Certificate, advise your Conveyancer as soon as possible so that alternative arrangements can be made to complete your identification.

We cannot proceed to settlement until you have been successfully identified, so failure to provide sufficient ID documents may cause a delay with your settlement.

Post-Settlement

Just because settlement has gone through, doesn’t mean that our service is finished!  Following settlement of your property, we will monitor the title and send you a copy once it is registered in your name (usually 2–4 weeks after settlement).

Storing your documents

We also store copies of your settlement documentation for a minimum of seven years after settlement.

If you need a copy of any paperwork (such as Settlement Statements for tax purposes), give us a call and we’ll endeavour to provide you with a copy within 24 hours.

More information

For more information about buying a property, download our handy guide below or get in touch today.

Guide to Buying a Property in WA

*Correct as at 6 June 2018