Categories for Commerce

Looking to Buy a house- consider pre-contract Building Inspection before sign on the line

23/3/2023
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Under the current normal Buying a property process in WA, a buyer will sign a contract -also known as an Offer and Acceptance (O&A) to buy a House, Land, or Strata lot, and they may include as a condition their desire for a Building Inspection or Survey done, usually at their own cost, after it goes unconditional. The standard REIWA annexure if included in the negotiation of the O&A allows for a Pre-purchase Building Inspection. However, it is usually limited...

Open Letter to Listing Agents- Tips for a Smooth Sailing contract.

16/3/2023
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WITHOUT PREJUIDICE;To whom it may concern ON THE PATH TO EXCELLENCE; This is an open letter to EVERY SINGLE LISTING REAL ESTATE AGENT to PLEASE just get a Building &/Timber Inspections completed at the time of listing a property, so then a Buyer can be provided said reports BEFORE putting in an offer so they are fully aware of what they are buying and then ZERO contracts would be conditional upon having those weird Inspectors from other states where the...

Number of practising WA Settlement Agents

5/2/2018
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A review of the latest licensing information for WA settlement agents reveals that in the last 12 months there has been a slight decline over most categories.  Given market conditions, natural attrition as well as unprecedented change it’s not surprising the total number of licences held in WA is down from 574 in 2017 to 554 in 2018.  Note: Information is current as of the 1st May 2018Source:2nd May 2018 AICWA e-Newsletter

Selling to someone who is Demolishing

17/1/2018
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Smoke Alarms DMIRS Bulletin #78 Smoke alarms in dwellings proposed for demolitionWestern Australia’s Building Regulations 2012 require owners of residential dwellings to have compliant smoke alarms installed prior to the sale, transfer of ownership, rent or hire of the dwelling.  Changes to the Regulations that come into effect on 22 January 2018 provide an exemption for owners who are transferring ownership to a person intending to demolish the dwelling.This means the current owner of a dwelling that is subject to transfer...

SCAM ALERT – Did that person, really send you that?

19/9/2017
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In what is suspected to be a “man in the middle scam”, funds were unwittingly deposited by a purchaser into an east coast bank account in the lead up to a settlement and then transferred by the scammers to an overseas account resulting in a significant loss of $557,000. Typically, this type of scam will occur when the contents of person’s private emails are accessed and details of future financial transactions are seized upon by scammers. Victims will be contacted...