Updates to the Joint Form and Offer and AcceptanceThe 2022 General Conditions and the new contract for the sale of land have been released today.The Offer and Acceptance has also been updated with a revised format that will be easier to use.The amended finance condition permits the buyer to apply for finance through a lender or a mortgage broker. The mortgage broker has the ability to provide notification of finance approval, non-approval or rejection.All forms that have referred to the...
Further streamlining to conveyancing in WA as amendments pass Parliament The passing of the Transfer of Land Amendment Act 2021 (TLAA) in Parliament yesterday (16-06-2022) will further improve and streamline conveyancing in Western Australia, as the state continues to advance electronic conveyancing. Once brought into effect, the amended Transfer of Land Act 1893 will:• Remove duplicate certificates of title from WA’s titling system • Enable the service of notices electronically• Clarify the definition of counterpart documentsThe TLAA provisions will take...
Verification of Identification (aka VOI) is an important and required step for Property transactions in WA, For your convenience we engage multiple options including the preferred IDSecure, where you will receive an SMS inviting you to complete your Virtual VOI on your smartphone. Please action this before it expires ~96 hours (~4days) from SMS initiation. Some tips (especially for overseas individuals) please:1. Within the next 96 hours (4 days), click on your weblink on a mobile device i.e. phone or...
The introduction of the new Strata Title Act Amendment has led to the creation of Leasehold Schemes and Titles in WA. A leasehold scheme includes a subdivided underlying title with a reversionary interest and leasehold strata titles. A Leasehold Title is a portion of the subdivided land that acts the same as a freehold parcel for the duration of the leasehold scheme (20-99 years). Reversionary interest relates to the right of the owner of the underlying title. It allows them...
Property Tips Buying & Selling in a Pandemic While buying or selling a property may not be high on everyone’s “to-do list”, there are many reasons and circumstances why property will continue to be bought and sold in the coming weeks and months. For the time being property professionals along with the government agencies who support the transfer of property are all open for business. If you are looking to buy or sell here’s what you need to know… Sellers...
