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Property Settlement

Advice: Conveyancing is a time-consuming and complicated process. There are many pitfalls for the unwary. A professional settlement agent will understand the entire process. They will know how to ensure a smooth transfer.

Property settlement is a legal process. Generally facilitated by your settlement agent and financial representatives and those of the seller. It’s when ownership passes from the seller to you, and you pay the balance of the sale price.

The seller sets the settlement date in the contract of sale.

As a general rule, property settlement periods are usually 30 to 90 days, but they can be longer or shorter.

On settlement day, at an agreed time and place, your settlement agent (conveyancer) meets with your lender and the seller’s representatives to exchange documents. They organise for the balance of the purchase price to be paid to the seller.

Just before settlement, you’ll have the opportunity to do a final inspection of the property. Often this is done the day before or the morning of the settlement. Contact the agent to arrange this inspection.

The seller must hand over the property in the same condition as when it was sold.

After settlement, your lender will draw down on your loan. This means that they’ll debit the amount they’ve paid at settlement from your loan account.

You’re then responsible for paying land transfer duty or stamp duty. It’s usually paid on the settlement date. The title to the property won’t transfer to your name until you have paid this duty.

The seller handles rates and other council fees up to and including the day of settlement. After this date, you will need to pay these costs.

Once settlement has completed, you can collect the keys from the agent. The property is now yours. It’s time to move into your new home.

Commercial Property

Are you buying or selling commercial property?

Are you thinking of buying or selling commercial property?

The Offer & Acceptance contracts are often complex. You need to take special care that you meet your obligations about GST.

At Supreme Settlements we deal with commercial conveyancing. Properties like: industrial premises, shopping centers, and inner city strata office suites. Including of course, multi-story commercial, mixed use buildings and retail showrooms.

We communicate directly with our clients. And explain all legalities. If you know what is taking place and why, the less stressed you will feel.

We work with our clients, and with their objectives in mind, determine the right outcome.

Review every detail of the transaction

Supreme Settlements are the experienced conveyancing team. We will prepare all the necessary real estate documents. Rest assured we will review every detail of the transaction. Ultimately ensure your interests are safe guarded.

e-Conveyancing is a natural extension of the technologies employed in commercial property transactions. Electronic transfers can quicken the process.

Buying a building? Or developing a rental portfolio? Maybe purchasing a unit to start a small business? Choose your team who can understand you and your business goals.

Commercial properties are all about time and money. Make sure all financial considerations are secure.

Commercial transactions are complex. Clients should undertake research and seek advice. Know the risks and benefits before entering into a contract.

Need more information?

At Supreme Settlements, the team provides a professional and efficient conveyancing services.

Do I need a Settlement Agent

Should I choose a settlement agent or let others do it for me?

You can choose your own settlement agent. Above all, the choice is yours. You can also accept the one provided by your real estate agency. Or if you prefer, you could undertake the task yourself.

The WA Department of Commerce says: “Unless you are a suitably qualified lawyer, it would be very unwise to try to carry out the settlement of your own property. It’s a complex and time consuming business, with many traps for the unwary.“


We all want to save money and reduce extra fees.

Yes, you can complete your own settlement, if you choose too. It is a complex and time consuming exercise, unless of course you have the experience. But, however, there are many problems you may face that will cause delays, and even extra expense.

The beauty of a professional settlement agent is they will transfer property and overcome any difficulties. For instance, they will assist you in completing all necessary paperwork.

Your settlement agent will review the contract. Certainly including any required conditions. As a result, they will prepare all legal documentation to effect the change of ownership.

Your settlement agent will liaise with the banks, the broker, and the real estate agent. Most importantly, they will of course liaise with various government authorities to ensure that your settlement transaction is completed.

There are fees. At Supreme Settlements we are open and upfront about our pricing with no hidden costs or add-ons.


Supreme Settlements are the professionals. They will take care of the finite details for you. You can relax and let the Professionals do what they do best.

Do I need a Settlement Agent near me?

Do you need to engage a settlement agent near you? No you do not. With electronic transfers, emails, mobile phones, and the like what you really need is a settlement agent aka conveyancer you are comfortable with. Don’t forget, your settlement agent will be along for the journey and you need to be best travel companions. After all, your conveyancer is taking you home!

What do I do?

Contact your real estate agent, inform them you have selected Supreme Settlements as your chosen settlement agent.

Advise Supreme Settlements of your real estate agents details. They will arrange with the real estate agent for your contract to be issued to them urgently.

Buying or Selling property? Whatever the reason, your professional, qualified Team at Supreme Settlements is always ready for you.


Supreme Settlements has a wide variety of services available. It is with the greatest of pleasure, and their professionalism they wish to provide these services to you.


Why not browse our services:

Or visit our Reading Room


At Supreme Settlements we protect our clients’ interests, whilst serving from the heart.


If you want the professionals, choose Supreme Settlements.


We Have PEXA?

Why choose PEXA? Property Exchange Australia has been chosen as the best and most secure method to submit documents electronically.

PEXA is the new electronic online method of submitting documents for settlement.

PEXA compliant e-Conveyancing
PEXA compliant e-Conveyancing

PEXA is Property Exchange Australia.

Property Exchange Australia is Australia’s online property exchange network. It enables users to e-lodge documents and complete financial settlements.

The PEXA system automatically checks online documents have been correctly filled in. 

Electronic conveyancing or e-Conveyancing is the term used for transactions and settlements conducted electronically.

PEXA’s pre-lodgement verification ensures all participating parties have accurate and matching information. Proceeding to settlement is less likely to encounter document problems.

Your most expensive purchase

You’ve handed over a significant amount of money in what is likely to be one of the most expensive purchases you’ve ever made. You’d want to be sure that your ownership is reflected on the property title immediately, right?

It’s not always the case in the manual world. It can sometimes take weeks for a change in ownership to be registered with the relevant Land registry. Using PEXA, a change in ownership is recorded within minutes of settlement occurring. You will have clear proof and confidence in your ownership.

Most stressful experiences

The property process is quoted as being one of the most stressful experiences in a person’s life.

e-Conveyancing helps remove some of that stress by allowing your lawyer or conveyancer to view the progress of each party in the transaction.

That’s right – they’ll know whether your bank has completed their part of the transaction, provide comfort that the funds are available and provide an update on whether the buyer/seller on the other side of the transaction is ready for settlement.

In short, you’ll have the information you need, when you need it.

By asking to use e-conveyancing, your lawyer or conveyancer will be able to complete and sign the majority of this paperwork on your behalf, greatly reducing the amount of time you need to spend completing the process.

Speed efficient PEXA

Using electronic means to submit documents also equates to a speed efficient process reducing the time it takes to complete settlement. There are still legalities to be met which can slow the process. Overall it will be faster than posting and sorting documents.

In today’s online world, why would you wait days for a cheque to clear?  With online banking you can have access to your funds nearly instantly. Through PEXA, all proceeds of sale are transferred electronically meaning you’ll have access to cleared funds within 24hrs of settlement…not three days!

Ask your conveyancer to use PEXA today.

First Home Owner Grant (FHOG)

The First Home Owner Grant (FHOG) scheme was introduced on 1 July 2000 to offset the effect of the GST on home ownership. It is a national scheme funded by the states and territories and administered under their own legislation.

First home owners may qualify for the grant and/or the first home owner rate of duty if they are either purchasing an established home or if they are building or purchasing a new home. The grant has:

  • geographical caps on the total value of the home
  • residence requirements
  • eligibility criteria for applicants

The grant (FHOG) is a one-off grant payable to first home owners that satisfy all the eligibility criteria.

Eligible First Home Owner

To be eligible for the grant and/or first home owner rate of duty, applicants must satisfy the following criteria:

  • An applicant must be a natural person (i.e. not a company) and be 18 years or over at the time of making application. If you are under 18, you may be able to apply for an exemption from the age requirement.
  • At least one applicant must be an Australian citizen or a permanent resident at the time of making application.
  • Applicants and/or their spouses or de facto partners cannot have:
    • previously received the grant or first home owner rate of duty from any jurisdiction in Australia
    • owned residential property anywhere in Australia before 1 July 2000
    • owned residential property anywhere in Australia on or after 1 July 2000 and occupied that property as a place of residence before 1 July 2004
    • owned residential property anywhere in Australia on or after 1 July 2000 and occupied that property as a place of residence for a continuous period of at least six months that began on or after 1 July 2004.
  • Applicants must occupy the home as their principal place of residence for a continuous period of at least six months commencing within 12 months of settlement if purchasing a home, or within 12 months from the date of completion if building a home.
  • Applicants must hold a relevant interest (ownership) in the land on which the home is situated and must own the home in their own capacity. If they own the home as a trustee, it must be held on trust for a person with a legal disability.

First Home Owner Grant

The grant is $10,000 or the consideration paid to buy or build the house if less than that amount.

    • For eligible transactions entered into between 1 January and 30 June 2017, an additional $5,000 boost payment may be available.
    • For eligible transactions entered into between 1 July 2000 and 24 September 2013, the grant was $7,000 or the consideration paid if less than that amount.

The grant is no longer available for the purchase of established homes.

First Home Owner Grant
First Home Owner Grant

Application First Home Owner

All applicants must complete form F-FHOG1

‘FHOG Application and/or Pre-approval for the First Home Owner Rate of Duty’.

Applications can be submitted through a FHOG approved agent or directly to the Office of State Revenue.

If you are applying for a loan from a financial institution (i.e. bank or credit union) to purchase or build a home and your lender is a FHOG approved agent, they can process your application.

This may also result in you receiving your grant and approval for the first home owner rate of duty earlier than if you were to apply directly through the Office of State Revenue.

Contact your lender to find out if they are an approved agent. You will be required to produce supporting documentation with your application as required by your lender.

Rigorous Review

All applications undergo a rigorous review. During which applicants are checked for former home ownership in Western Australia and interstate. Other checks into spouse/de facto partner status, council records, title details and finance particulars are carried out on a routine basis.

Still interested?

Talk to your Conveyancer and follow the links above. This has been a brief outline of the First Home Owner Grant and does not contain all information that you may need to know.

Stewart Title

For most people, the largest investment they will ever make will be the purchase of their home. When buying a property there are many inherent risks which may affect your ownership. Stewart Title Limited operates as an insurance company. It provides protection to property owners and lenders.
 
Title insurance is a specialised type of insurance.
    • home buyers with protection.
    • home sellers with protection
    • rural property protection
    • Strata property protection
    • vacant land protection

Stewart title

Hidden Risks

There are certain unknown and hidden risks which may exist at the time of buying or selling your home or property.

If you already own your home, you can get the protection that title insurance provides. Therefore, apply for a Residential Existing Owner Policy.

Stewart provides these services to home buyers and sellers. Including residential and commercial real estate professionals. Likewise, mortgage lenders and services. Similarly, title agencies and real estate attorneys. You can add home builders and developers; and relocation professionals.

Stewart Title Limited operates as insurance company providing protection to property owners and lenders.

Claims Videos

The link provides example claims covered by Stewart Title. These claims show the value of title insurance policies. They provide protection to home buyers and existing homeowners. Protection from certain unknown and hidden risks inherent in property transactions.

In conclusion, Title Insurance can be used as a risk management tool in the conveyancing transaction.

With no excess payable on claims, the insured is compensated for the full value of their loss on a no-fault basis.

Discuss with your Conveyancer  Today.

Deposit Power Guarantee Information

Deposit Power is Australia’s leading provider of Deposit Guarantees. Having issued the first Deposit Guarantee in the Australian market in 1989, Deposit Power has now assisted over 900,000 Australians to purchase residential property.

Deposit Guarantees substitute for a cash deposit when purchasing residential property and can be used by investors, first home-buyers, people buying and selling simultaneously and for extended settlement contracts such as off the plan or vacant land purchases.

Deposit Power is part of Vero Insurance Limited, one of Australia’s largest and most successful intermediated general insurance companies.

THE POWER TO PURCHASE
With Deposit Power you now have a solution to purchase your next property. The Deposit Power Guarantee can be issued for all or part of the deposit amount required, up to 10% of the purchase price. You simply pay the full purchase price at settlement.

Deposit Power offers Short Term Guarantees to suit settlement terms of up to 6 months, and Long Term Guarantees for settlements terms of between 6 and 48 months, which suits purchasers who are buying off-the-plan, under construction or land with extended settlements.

COST EFFECTIVE AND CONVENIENT
In many cases, you may not have ready access to the cash deposit required to secure a property or may prefer a more cost effective alternative to using your own cash.

SHORT TERM GUARANTEES
Short Term Guarantees are used for the following types of property purchasers:

  • Existing residential property, that will settle within 6 months.
  • Vacant land purchasers, that will settle within 12 months.

LONG TERM GUARANTEES
Long Term Guarantees are used for the following types of property purchasers:

  • Residential property being purchased off-the-plan that will settle within 48 months.
  • Property purchasers that have extended settlement terms over 6 months and up to 48 months.