Latest News Archives - Supreme Settlements

Rural Property Decision

Rural Property in Western Australia offers a quality of life many people find hard to resist.

However, we need to think about some of the realities of life in a rural area before buying and living on a rural property.

Farming is a Business

The property you wish to buy might look peaceful. But farming is an industry and surrounding farmers are running a business.

If you are moving from the city, or a major rural town, are you prepared to be part of the rural community? Or like me do you prefer solitude.

It is important to know what you want from owning a small landholding. Be clear and honest assessing your expectations. Carry out realistic research. You may want to engage a consultant who will assist your decision making.

Isolation is Real.

Isolation and stress are some of the risks moving to a rural environment. Can you handle it?

Above all, before buying any property, carry out a thorough notification on title check. Your settlement agent will do this for you. They will tell you if there are easement agreements. Are all services (power, water, access and telephone) in place. Is there any carbon, conservation, heritage, or other caveats or covenants?

Be aware of the responsibilities and commitments required living on a rural property. There may be ramifications if these are not met.

Rural Property Responsibilities

Landholders have many responsibilities and legal obligations to consider.

The Federal Government makes laws about taxation, trade and commerce and quarantine.

State Government laws govern

native vegetation,
water,
health,
animal welfare,
livestock identification and movement,
stock diseases,
planning,
environment protection,
movement of plant materials,
noxious weeds and
vermin.

Local Government laws govern

planning, buildings and improvements, health and neighbourhood disputes.
Maintaining health and welfare of your animals,
responsible chemical use and farm safety are important requirements.
Land managers need to protect water resources,
control pest animals,
eradicate noxious weeds,
conserve soil and
avoid contributing to land degradation.

These laws are important to ensure long-term healthy and productive land. Abiding by these laws helps build friendly communities. There are industry-based codes of practice administered by local and state government staff.

There is much to Consider

If you decide to pursue your rural property dream, we would be happy to help you achieve that dream. Call Supreme Settlements on (08) 9417 2322 or contact us with more detail today.

Property Title Name Change

A property title is an important legal document that lists the registered owners of a property and guarantees security of property ownership.

While there are plenty of reasons why you might need to add someone to a property title, there are also situations where you need to remove someone’s name from a property title.

When a co-owner of your property passes away it is important that the Title be updated as soon as possible.
Possibly a family member passes and you need to transfer ownership of their property.
Perhaps you’re getting divorced and it’s time to remove your former spouse’s name from the document.

The exact process you need to follow to remove a name from a title differs slightly in each Australian state and territory.

Make sure you contact the relevant department for detailed instructions on the process where you live. In Western Australia refer Landgate or solicitor or conveyancer.

Property Title – Name Removal

You can remove someone’s name from a property title yourself, but this can be a confusing process that involves complex technical jargon. Many people prefer to engage the services of a property lawyer or a licensed conveyancer to carry out the work.

The professionals have the expertise to deal with any problems that may arise while transferring property and can help ensure that the transaction is handled with a minimum of fuss.

Removing a name from a property title can have many far-reaching legal, financial and taxation consequences, so seek professional advice tailored to your situation.

Property Title – Separation

Around one in three of all Australian marriages end in divorce, so learning how to get a partner’s name removed from a property title is a common problem.

You may also undergo a name change as part of the divorce, and you’ll need to remember to have your own name changed on the property title to reflect this.

While severing all financial and legal ties to your ex in a divorce may seem like the best approach, make sure to consider all your options before choosing to do this.

There are a myriad of potential scenarios that could arise depending on your personal circumstances, so ask your solicitor for advice and guidance on the best approach.

Property Title – Who Can Help

Supreme Settlements can prepare and lodge documents on your behalf with Landgate to update the Title and reflect the property in your sole name.

Call us today (08) 9417 2322 or Contact Us with more details.

Vacant Land For Sale

How to select your choice of vacant land for sale if you are looking to build a house. This information will also be relevant if you are looking for land for commercial or industrial use.

Often a block is released for sale in a new housing or industrial estate or sub-division. That’s where most people find them.

If you have a settlement agent they will do much of the necessary research for you. If you are contemplating the task yourself… … I would suggest you do your homework.

Here are a few things you need to do:

Check with the local council and the Department of Planning when buying vacant land. Looking for details of facilities and amenities planned for the area. Proposed or planned:

schools;
shops;
parks, etc. that may impact your land.

There may be restrictions on building on the property.

Ask if there are any future road works or other public works planned for the area. Possible highways, power lines, transformers or other utilities that could impact your land.

The local council will tell you if the land is subject to a ‘building envelope’.

A building envelope is of particular relevance in semi-rural subdivisions. House construction may only be possible within a certain area of the block.

Make inquiries with the relevant government authorities. Ask about services connected to the block. Services can be electricity, gas, water, sewerage, internet access. How good is mobile phone coverage, and land line telephone? Ask about the position of underground cables and pipes.

Check with the local council for the composition of the soil. You are looking for sand, limestone, or clay, to determine whether it is suitable for building.

Have a licensed surveyor conduct a check on the boundaries of the property. Ensure boundaries are accurate.

How to select vacant land – site costs

Site costs are the expenses you will have to meet to have the block prepared for the foundations of the house. The nature of the house and the characteristics of the land determine site costs. Before you buy your block get a quote for site costs for the style and size of the house you are planning to build.

Generally blocks of land with the lowest site costs are those that are flat and have sandy soil. Rocky land with steep slopes tends to have high site costs. Drainage problems will also affect site costs. The local council will be able to tell you if the land is susceptible to drainage problems. You may need special building requirements and/or restrictions.

That is to say, get a quote from the builder for site costs before making an offer to buy. Ask your potential neighbours who have built recently in the area if they encountered any problems.

How to select vacant land – Restrictions

Encumbrances are restrictions, which could hamper the future use of the land. Encumbrances on vacant land may include:

• easements – for example, an adjoining landowner may have a particular right to cross the land; a sewerage or drainage line may have to pass through your land; and/or

• restrictive covenants – for example, there may be restrictions on using the land in a certain way, including restrictions on building heights or the use of certain building materials; boundary fences to be constructed to a particular standard.

If you are in a designated bush fire area, extra planning and building requirements may apply.

A great idea is to check for any encumbrances through your solicitor or settlement agent.

Therefore, when considering the purchase of a block of land, make inquiries. Ask if there are any easements or restrictions that might affect the use or resale of the land.

If you have undertaken this task on your own, you may find the best option is to carry out your own checks. Engaging a settlement agent will reduce this task 10 fold. Your settlement agent will be available to move you through settlement and protect you from criteria that you might miss.

Supreme Settlements are available to answer your questions and provide you with more detailed information. Call them today (08) 9417 2322 or leave a more detailed request at Contact Us

Settlement – What Do I Do?

Settlement – What do I do? This is the easiest question to ask your conveyancer. When you are looking to buy or sell your home or a commercial property, questions need answers. The easiest solution is to choose a conveyance who can answer your questions.

There are many settlement agents listed on Google Search. But who do you choose? Every listing tells us they are all professional, all informative, all experienced, all the best.

Why not put together 3 or 4 questions. Call 3 or 4 settlement agents and ask them your questions. The settlement agent that provides answers that you understand, is easy to talk too, and you feel comfortable with, is the one you should go with.

Don’t forget, your settlement agents is there with you for the duration.

What do I do?

The world of real estate property buying or selling can be a bit daunting if you are not familiar with any of it. Many people do it but few of us are that familiar with the ins and outs of paperwork and legalities and monies.

Most of us want property settlement done so that we can get on with our lives.

Ask Questions

Your settlement agent can answer many of your questions. They can guide you through much of the detail.

Why do you need a settlement agent? The second question on your list. That will be self explanatory when you start talking about the process of settlement.

Being informed of your choices means you are on top of your game. No one can lead you astray. And no one can take advantage of you.

Ask questions. Seek advice. Arm yourself with knowledge needed to proceed with confidence and direction.

Get Answers

Your conveyancer will tell you about the process of settlement. They will guide you on the time frames you will encounter during settlement.

Asking questions is a free service. Getting to know your conveyancing team is a bonus. And if you are happy with your conveyancing team they may take you to settlement and your new property. They will also help you dispose of said property when the need arises.

Choose your Conveyancer

Having the right conveyancer is a plus when it comes to settlement. Their knowledge and experience will prove invaluable. The more you can rely on them the less you have to stress about.

Supreme Settlements is an experienced conveyancer with an extensive service to the community.

Contact Supreme Settlements today and ask the question. The worst you will get is an answer, and maybe a cup of coffee.

Commercial Settlement

Are you looking at commercial property?

Commercial and Industrial property can be one of the most lucrative investments in real estate. But it could also be the opposite. With possible vacancies and big drops in market value you could lose it all. Commercial property is a higher risk than residential property.

Don’t make the mistake of buying a industrial property because it seems like a good deal without first having a plan.

Commercial real estate is only as good as the lease and tenant that are in place.

Set yourself a clear strategy.

Undertake detailed research. Source the correct property at the correct price. Engage a professional property conveyancing team.

If you haven’t done your home work you may overpay for the commercial property. Compare the property with others in the area. There’s nothing wrong with being over cautious when buying property.

Focus on the long-term strategy, risk mitigation, capital growth and cash flow.

Fix your Budget

Being successful may require you to buy, hold, and rent out properties for the long term. Ensure you have enough cash flow for maintenance and other expenses.

Allocate your budget for enough coverage of expenses. You will need to cover such expenses as the mortgage, taxes, insurance and advertising. When you don’t have enough cash flow your property can become a liability.

Aim for Settlement

All commercial property and industrial property conveyancing settlements have Supreme Settlements personal professional attention. Our property conveyancing settlement team will liaise with Landgate, as well as financial providers, and property managers.

We may be located in Cockburn Central but our reach is far and wide. Although we can’t find a property for you or negotiate a price, as your personal property conveyancer, settlement agent, we will provide you with a professional property conveyancing service.

Contact us today

Conveyancer or Settlement Agent?

A Conveyancer is a specialist in the legal aspects of buying and selling property. But, is a Conveyancer a Settlement Agent?

In Australia a Conveyancer is also known as a Settlement Agent.

That is to say, many people appoint a settlement agent aka conveyancer. Engaging a settlement agent, ensures legal requirements come together. Further, it is important that transactions proceed unruffled with their property interests.

Conveyancing: term for transferring legal ownership of land from one party to another.

Supreme Settlements are experienced and professional conveyancer’s. Their role is to execute the transfer of land from one person to another.

Professional conveyancer’s undertake the necessary checks to protect their client’s interest. They meet all legal obligations.

A licensed conveyancer is a qualified professional.

A Conveyancer holds a Settlement Agent’s License and a Triennial Certificate. Therefore, in Western Australia, your Conveyancer will hold these licenses.

Conveyancing work can involve the preparation of documents. These documents may be leases and contracts. They will give advice on conveyancing documents.

Conveyancers will exchange sale contracts.

A conveyancer is a person who provides settlement services.

The conveyancing team will organise surveys and building inspections. Including registration of title documents. Above all, your settlement agent will attend settlement.

Licensed Conveyancer’s like Supreme Settlements will guide clients through the purchase of, and sale of, residential and commercial property settlement.

With an Unrestricted License, Supreme Settlements can work on residential and commercial property.

Consequently, a conveyancer can prepare and advise on mortgages, the sale of businesses, and the sale of rural property.

Terms of reference:-

Contract of Sale: The Contract of Sale is a document signed by both the buyer and seller of the property sold. This may include the sale price, deposit amount and the settlement date.
Settlement Date: The settlement date is the date when the purchaser pays the balance of the sale price to the seller. The seller gives the purchaser the legal documents required to transfer the property.
Cooling off Period: After the buyer signs the Contract of Sale there is a short grace period. Three days in most cases where the purchaser may change their mind. During this cooling off period the buyer can end the Contract of Sale. The vendor can not sue. There may be financial penalties for backing out of the contract though. Discuss this with your conveyancer, real estate agent or solicitor.

Supreme Settlements are Conveyancers aka Settlement Agents.

Call (08) 9417 2322 orContact us today.

Strata Title

A strata title allows you to own part of a property.

A strata title allows you to own part of a property. It may be an apartment or townhouse which also includes common property. Common property being driveways, gardens, foyers and the like.

The strata title governed by various legal entities.

For example, owners corporation, body corporate, strata company, or community association. It will be dependent on your state or territory of residence.

Any property that adjoins in some way will have a strata title.

They share common areas such as roofs, lifts, gardens, driveways, and the like. Common areas maintained by all unit owners collectively. Expenses incurred shared to maintain common areas.

Living on shared property can offer a friendly community-style environment.

It is very different from when you live in a freestanding house. You will find some activities more limited. Parking your car or simple renovations may be very restrictive.

The owners in the strata scheme make up the owners corporation.

There will also be an executive committee that makes certain decisions on its behalf. A larger strata schemes may appoint a professional strata management firm. They will assist and oversee the functions of the owners corporation.

In most cases, you will own the inside of the unit/apartment but not the main structure of the building. Known as airspace, this includes the internal walls, floor coverings, and fixtures.

The owners corporation will administer funds for daily operational expenses. As well as long-term future expenses.

One of the benefits of owning a strata property is that you will pay lower council rates than a house owner.

By-laws are rules that everyone who lives in a strata scheme must follow. Including lot owners and tenants. By-laws cover issues like safety and security measures. They may include appearance of units, garbage disposal, cars and parking, and pets.

The appearance of the property will tell you if the property is well maintained as a whole.

It is a good idea before you buy a strata property, to review the accounts and records of the owners corporation. Ask about the maintenance of the building. Look for signs that may need you to spend your money sooner.

You can get ask your conveyancer to prepare the report on your behalf.

You should refer to the:
• Strata Titles Act 1985 (the Act) as amended; and
• Strata Titles General Regulations 1996 (STGR) as amended, for details.
• Landgate www.landgate.wa.gov.au

A Guide to Strata Titles PDF

Supreme Settlements (settlement agent, conveyancer, settlement) is well conversed in strata-titled settlements. Call us today for advice.

Settlement Agent Fees

We all know that buying a home involves a big financial outlay. Settlement Agent Fees are real.

Settlement Agents do charge fees.

We know that we can choose our own settlement agent. Choosing your own settlement agent can be a wise decision. Where is my nearest settlement agent? In this day and age, you need settlement agent you are comfortable with. Their location is not an issues as much of the paper work is undertaken online.

Getting a quote from a Settlement Agent is the best advice.

Settlement Agents do charge fees. They do need to get paid for their professionalism, efficiency, and research undertakings.

The settlement agent fee is the amount you pay your settlement agent for their work. Fees cover such things as the settlement of a property you are buying or selling. They can vary from conveyancer to conveyancer.

Some settlement agents may charge a fixed fee. Others may charge based on the value of the transaction. It is important to remember no two settlements are ever the same.

Often issues can arise in the course of settlement, and in these cases, extra fees may apply.

Conveyancer Fees.

Conveyancers charge fees. Conveyancers are Settlement Agents. A settlement agent must be a licensed conveyancer. Your conveyancer will look too all…

property conveyancing,
house conveyancing,
residential conveyancing,
strata conveyancing, and
land conveyancing issues.

Ask a conveyancer about their fee structure. Do they have fixed price conveyancing fees? Compare average conveyancing costs between a number of selected conveyancers. There is no such thing as cheap conveyancing. However, fair price and professional conveyancing is a given.

There are no regulated settlement agent fees.

A settlement agent must provide you with a written quote.

The quote will sets out the possible amount they will charge for their services before you sign the appointment to act.

The greatest amount must include all fees. These can include government charges and general office disbursements. All payable for the settlement agent’s services. It is always a good idea to approach three settlement agents and ask for a quote.

Get 2 or 3 Settlement Quotes

Having 2 or 3 quotes from settlement agents makes you better prepared to choose.

Keep in mind your settlement agent will be along for the ride of your life securing your new home.

Choose a settlement agent that you feel comfortable chatting too.

Ask your Settlement Agent

If you have questions, ask them. Where doubt exists problems begin.

Supreme Settlements is here to help and offer advice.

Why not call us today (08) 9417 2322, or request a quote online to purchase, or to sell your home or property.

The Settlement Agent

The settlement agent aka conveyancer is a person that looks after property settlement. They’re the people responsible for transferring a property from one owner to another.

The main task of a conveyancer is to transfer ownership of the property. The conveyancer will ensure the property is the correct property you intend to buy, or sell.

A conveyancer will liaise with the buyer’s settlement agent to ensure finances are in order. The conveyancer for instance, will prepare the correct documentation and ensure you sign it. The conveyancer will advise of any encumbrances which could affect your enjoyment of the property

Contracts are exchanged on completion. Nevertheless, a transfer document will transfer the title of the property over to you. Your conveyancer will tell, and issue, resolution services to ensure a smooth process. An experienced settlement agent will identify and resolve any issues.

The best advice a settlement agent can give is advice uncompromised. It is our professional obligation to stay independent.

Settlement completes on the PEXA e-conveyancing platform. Your settlement agent will check documents on PEXA ensuring correct paperwork has been submitted.

Settlement will happen when both parties have digital signatures on the transaction. Your Settlement Agent will notify the Real Estate Agent so that you can collect the keys.

Your Settlement Agent will notify relevant authorities that you are the new owner. The conveyancer will keep an eye on the Certificate of Title. When registered in your name they will let you know.

Your settlement agent will give you a call to let you know when to pick up the keys.

At Supreme Settlements we wish you all the joy and happiness of your new home or sale of property, as the case may be.

When Settlement Sways

What happens to your home when relationships breakdown?

What happens to the family home when you are going through a relationship breakdown?

How do you end the property partnership?

Divorce, or separation is a stressful time, and it is in your best interest to get a court order to protect your assets. Often you will engage a lawyer.

In the case of property transfer a settlement agent may be able to look after the process of title change.

One partner may decide to buy out the other, alternatively the shared property sells.

The following may be part of property transfer process;

Ownership of Property – Confirmed by a Title Search
All parties involved are in agreement
If court orders are applicable – Original stamped embossed order required.
If there is a mortgage over the property – Confirmed via Title Search. For a bank mortgage, lodge a discharge form with the bank, completed by all parties. When there is no mortgage the Certificate of Title will be with your Settlement Agent.
Payment. Financial approval from the bank to transfer the amount. Required to confirm funds are available.
Transfer of land document; Related parties authority; Stamp duty valuation form; Cost disbursement. Signed by the client.
Identification – All owners need identification.
Stamp duty. An assessment for all related parties based on the value and ownership status. Following this process, documents need signing. Stamp duty assessed and banks are ready to proceed. The settlement date can proceed.

Relationship breakdown can be a stressful, traumatic time, for the entire family. Transfer of property ownership is one thing to deal with.

At Supreme Settlements we care about our clients

It is our aim is to make the settlement as straightforward and stress-free as possible.

We assign a conveyancer to you to take you through the complete settlement process.

If you are at this crossroad in your relationship, give us a call and organize to come in for a chat.

Speak to a family lawyer and seek advice through the various government departments.