Categories for REIWA

Regional WA property hotspots outperforming Perth’s red-hot market

8/12/2023
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Property investors looking to diversify their property portfolio in a region delivering high rates of capital growth could turn their gaze towards Western Australia’s high-performing regional centres. Perth is regarded as the golden child of Australian capitals for property investors at the moment, but Bunbury in the southwest of WA is outperforming the more widely regarded state capital. (Image source: Shutterstock.com) Property investors around Australia have converged on the Perth property market in the latter half of 2023 but some...

Breaking News: RTA reforms introduced to Parliament

29/11/2023
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Hi Damien The Cook Government introduced a Bill to Parliament this afternoon regarding the planned reforms to the Residential Tenancies Act announced in May. I would like to make it clear that this is an Amendment Bill and the changes are what we have expected and previously communicated. There are many details, such as those regarding modifications, that still have to be prescribed by Regulations and we continue to engage with the Government on these matters. In general, the Bill covers: Banning rent bidding...

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...

COVID annexure or variation

1/2/2021
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During the uncertainty of COVID lockdown, REIWA has a COVID annexure to cover the most limited initial COVID Events. This may be added as an “Annexure” to contract before it is accepted, but after acceptance, it would need to be signed by all parties of the contract as a “Variation” ie Seller & Buyer of Property Address, Contract Dated DD/MM/YYYY agree to vary the contract by incorporating the labeled COVID Annexure Z; Signed & Dated: Seller X Buyer Y. Feel...