Perth, as named by the captain James Stirling in 1829 after Perth in Scotland, is a known for spreading news on mining boom and associated with economic development. It became Australia’s fast blooming capital. In a period of 10 years from 2001 – to 2011, the population has almost increased from 1.325 million (2001) to 1.696 million (2010) and almost more than Adelaide and touches that of Brisbane and close to Sydney. Searching a peaceful settlement in the growing city can always be a concern for the new buyer. Sometimes one can make a mistake of hurrying up to buy a new home or office while they get payments or lump sum lottery, may be! But one has to plan out the whole process. Some legal procedures and interim steps cannot be undertaken unless one is a lawyer or an expert solicitor.
Unless one is a suitably qualified lawyer, it would be unwise to try to carry out the settlement process for your property. While buying a property it is necessary that all the clauses are mentioned in the paper work involved. All the promises made by the buyers and sellers are fulfilled as mentioned in the contract for the sale of property. This is a part of Conveyancing. Employing a licensed settlement agents perth or a lawyer who has specialized experience in the same can be hired. It is in fact advisable in the current times that a practitioner in certificate of law who has the required caliber to pay attention to details.
Sometimes, the new buyers and sellers have raised simple queries like what is the main difference between employing a settlement agent as opposed to a lawyer?
This is a very good question and cautions the buyer and sellers against any fraud by unlicensed practitioners or hired agents by the real estate agents. It is that settlement agents are not qualified to give you legal advice. However, a settlement agent is required by law to let you know when it is a good idea to get legal advice.
How to identify the worth of your price while hiring one?
- Settlement agents should be licensed to operate in Western Australia
- Authorization for the settlement is in the client’s hand whose property it is or will be. Hence, agents must give you an Appointment of Settlement Agent form to be signed by them and you to work on your behalf
- If the lending institutions or bank you are involving for your purchases asks for approving an agent of their choice, still they must provide a form to create a contract which will make you aware of rights over them. After all it is client’s property and client’s money.
Also, the best way of choosing and giving an authorization to the settlement agent is through by reference of friend or family is most preferred.
However, the buyers or sellers should be cautious of the fees for the services that can cost you some additional amount as cost in the mid way settlement. One can go for an itemized billing charge disclosure with the settlement agent.