I am purchasing land but there is still a house on the site, do I have to pay for its removal?

The seller is responsible for demolishing the existing home and providing access to essential services i.e electricity, gas and water.

This is a strata property, why are there no strata fees?

Smaller groups of strata homes (2 or 3 homes) that don’t have any shared walls, rooves or common property often don’t have any strata fees associated with it.

In the contract there are annexures relating to building and pest inspections, who is paying for those?

Usually, the buyer will pay for the inspections should they choose to undertake them.

What is a pre-settlement inspection?

Under the terms in the 2022 Joint Form of General Conditions, a legal document which accompanies all sales contracts, a buyer is entitled to view a property within 5 business days before taking possession of the property.  The purpose of the inspection is for the buyer to ensure the property is in the same condition as when the contract was written.  This is also the time to ensure that all electrical, plumbing and gas fittings are in good working order unless these items have been specifically excluded from the contract.

Why do I need a settlement agent?

Whilst you can complete your own property settlement, most people appoint a qualified person to do it for them.  A settlement agent’s role includes, but is not limited to, undertaking all necessary property searches, liaising with their client’s lending institution, and preparing all necessary documentation required for settlement or transfer of the property from one person/s to another.

It is important to note 99% of settlements are transacted in a digital platform called PEXA which your nominated settlement agent or lawyer would need to be a member to complete the transaction on your behalf.

More information about selecting a settlement agent can be found on the Department of Mines, Industry Regulation and Safety website and we can also assist with appointing a settlement agent.