Residential Property Settlements

A residential property settlement in Western Australia is the legal process that finalizes the purchase or sale of a home. This involves transferring the property’s ownership from the seller to the buyer. During the settlement process, a number of steps are completed:

1. Contract Agreement: The process begins once both parties sign a contract of sale. This contract outlines the terms of the transaction, including the purchase price, settlement date, and any special conditions.

1. Legal and Financial Arrangements: The buyer’s conveyancer and financial representatives work with the seller’s to ensure all conditions of the sale contract are met. This includes making sure the title is clear of any encumbrances and that all necessary payments, such as stamp duty, have been arranged.
2. Final Checks and Adjustments: The buyer’s representative also ensures that rates and taxes are adjusted between the buyer and seller up to the date of settlement.
3. Settlement Day: On the agreed settlement day, the balance of the purchase price is paid, and the property title is officially transferred to the buyer. The buyer’s conveyancer ensures all conditions of the sale are met and registers the new ownership with the relevant authorities.
4. Post-Settlement: After settlement, the conveyancer handles any remaining formalities, such as notifying authorities and the real estate agent so they can manage the handover of keys or access to the property.

The settlement period typically lasts about six to eight weeks from the date the contract is signed, though this can vary based on the agreement between the buyer and seller.

This process is crucial as it ensures that all legal and financial obligations are met before the ownership of the property changes hands​.

Redefining the Residential Settlement Process
At Hanson Property Settlements, we’ve transformed the settlement experience! As Perth’s leading conveyancing specialists, we assist thousands of West Australians in moving home every year.

Whether you’re buying or selling, we deliver a personalised, high-quality service backed by a team of experienced professionals who are passionate about what they do.

Offering a Hassle-Free Experience
Our top priority is to provide a seamless, hassle-free experience for all our clients, from start to finish. Your dedicated conveyancing team will keep you informed every step of the way, ensuring that you’re always in the loop. Friendly, helpful, and attentive, our team treats each settlement with the same care and attention as if it were their own.

With our industry-leading expertise, meticulous attention to detail, and comprehensive processes, we ensure that nothing is overlooked, resulting in a smooth settlement from beginning to end.

When you choose Hanson Property Settlements, you can trust that your expectations will be exceeded every time.