Western Australian Conveyancing Guide

 

 

Disclaimer - The information contained in this guide is of a general nature and intended only to provide a guide to assist you in understanding the process carried out for you by a conveyancing practitioner and should not be used as a substitute for professional advice from a conveyancing practitioner acting for you in your sale or purchase.

 


 

What is Conveyancing?

Conveyancing is the area of law concerned with the preparation of documents for the transferring of property. Both the buyer and the seller of a property will engage the services of a conveyancing professional, who will represent the buyer or seller and complete the legal requirements of the sale.

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What happens in a Conveyancing transaction?

While each sale or purchase is unique, all will involve these primary steps.

Buying a property
  • Checking the contract and advising you about its terms;
  • Obtaining and examining a search of the title;
  • Obtaining rate and planning certificates from the Council, Water Board, lax tax authority, roads corporation and any other authority that may have an interest in the property or levies rates or charges;
  • Preparing transfer documents and Settlement Statement;
  • Providing documents to your bank;
  • Arranging and attending the settlement;
  • Arranging for payment of stamp duty on the transfer;
  • Lodging the transfer documents with Land Registry.
  • Notifying the Council and Water Board of the change in ownership

 

Selling a property
  • Taking instructions from you to preparing the contract;
  • Checking the contract and advising you about its terms;
  • Arranging with your bank to provide a discharge of its mortgage;
  • Examining and arranging execution of transfer documents;
  • Arranging the adjustment of Council and Water Board rates and other charges;
  • Arranging and attending the settlement;
  • Notifying the Council and Water Board of the change in ownership.

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Stamp Duty – rates and exemptions

The transfer of property purchased in Western Australia will be subject to the payment of stamp duty.

Depending on the purchase price, concessions are made for owner-occupied property, with a further discount for first home buyers.

You can calculate the stamp duty on the purchase price of a property here -

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First Home Owner Grant

You can read about the First Home Owners Grant here-

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