RG Settlements
RG Settlements
Pre-Settlement Inspections: What You Need to Know
Before finalizing your property purchase, conducting a pre-settlement inspection is crucial to ensure the property meets your expectations and contract conditions. At Rothschild Group, we help buyers navigate this final step with confidence.
Essential Pre-Settlement Inspection Checklist
1. Inspect Every Detail
- Check fixtures, fittings, walls, and flooring for any unexpected damage.
- Ensure that any appliances and built-in features included in the sale are in working order.
2. Confirm Repairs Have Been Completed
- If the contract requires the seller to make specific repairs, verify they have been properly completed before settlement.
- Take note of any outstanding issues and discuss them with your legal representative.
3. Test Utilities and Appliances
- Check that electricity, gas, and water services are connected and functional.
- Test appliances, lights, taps, air conditioning, and any included systems to ensure they work as expected.
4. Examine Outdoor Areas and Gardens
- Inspect any irrigation systems, fencing, and landscaping to ensure they are in the agreed-upon condition.
- If the property includes a pool, check that the filtration system and safety features are compliant and operational.
5. Conduct the Final Inspection Within Five Business Days of Settlement
- The pre-settlement inspection should be scheduled within five business days of settlement to allow time for resolving any last-minute issues.
- If major problems arise, your solicitor or conveyancer can advise on potential legal remedies.
Why Choose Rothschild Group for Property Settlements?
- Expert legal guidance to ensure your rights are protected.
- Thorough contract review to confirm seller obligations are met.
- Proactive problem-solving to address any last-minute property concerns.
Need assistance with your property settlement? Contact Rothschild Group today for expert legal advice.
Essential Questions to Ask Before Buying a Property
Purchasing a property is a significant financial investment, and asking the right questions can help you make an informed decision. At Rothschild Group, we guide buyers through the legal complexities of property transactions to ensure a smooth and transparent process.
Key Questions to Ask Your Local Government Before Buying
1. Sewer and Power Connections
- Is the property connected to sewer and underground power?
- If not, what are the costs and responsibilities for connection?
2. Zoning Regulations
- What is the zoning classification of the property?
- Are there restrictions on the type or density of development allowed?
3. Planning Restrictions
- Are there any planning restrictions that may affect renovations or new constructions?
- Are there any heritage overlays or environmental regulations to be aware of?
4. Proposed Developments in the Area
- Are there any upcoming developments that could impact property value or lifestyle?
- Are there any infrastructure projects planned nearby?
5. Outstanding Orders and Requisitions
- Are there any outstanding health orders or regulatory notices attached to the property?
- Does the property comply with swimming pool safety regulations?
6. Compliance with Building Approvals
- Have all structures and additions been legally approved by the local council?
- Are there any unapproved modifications that may require retrospective approvals?
7. Renovation and Expansion Approvals
- Are there any restrictions on renovations or extensions?
- Does the property require special approvals due to heritage or environmental factors?
Why Choose Rothschild Group for Property Transactions?
- Expert legal review of contracts, zoning laws, and property approvals.
- Comprehensive due diligence to uncover potential risks.
- Legal representation to ensure a seamless property settlement process.
Have questions about your property purchase? Contact Rothschild Group today for expert legal advice.
Understanding the Offer & Acceptance (O&A) Process: What Every Buyer Needs to Know
Finalizing a property purchase starts with the Offer & Acceptance (O&A) contract, but ensuring it aligns with your needs requires careful planning. At Rothschild Group, we provide expert legal guidance to help you navigate the complexities of property transactions.
Key Considerations Before Signing an O&A Contract
1. Understanding the O&A Process
- Once a buyer expresses interest in a property, the seller’s agent presents an O&A contract for signing.
- If you require modifications or special conditions, consult a property lawyer before signing to ensure your interests are protected.
2. No Cooling-Off Period – Proceed with Caution
- Unlike some states, Western Australia does not have a cooling-off period for property purchases.
- Once both parties sign the O&A contract, it becomes legally binding.
- Failing to meet contract terms could lead to legal disputes or financial penalties.
3. The Buyer’s Responsibility – Know Your Rights
- Real estate agents represent the seller, not the buyer.
- Buyers should carefully review all contract terms, and if necessary, amend clauses before signing.
- If any terms do not align with your requirements, cross them out and negotiate new conditions.
4. Legal Review Before Signing
- Buyers should seek legal advice before signing an O&A contract.
- Ensure that any specific requests, conditions, or amendments are properly included in writing.
- A professional legal review can prevent costly mistakes and ensure a smooth transaction.
How Rothschild Group Can Assist You
- Expert contract review to safeguard your legal interests.
- Assistance in drafting special conditions to align with your property goals.
- Legal representation to ensure compliance with all property laws and regulations.
Planning to buy a property? Contact Rothschild Group today for expert legal advice on O&A contracts and property settlements.
Your Guide to Buying a New Home
Looking at purchasing a new home?
Here are the steps you’ll need to take.
Step 1: Make an Offer
You’ve found the perfect property, so now it’s time to make an offer. The seller may counter the offer, kicking off negotiations. If the seller accepts your offer, you’ll sign a binding contract (subject to any conditions).
In Western Australia, there is no cooling-off period. Make sure you’re happy with the house before you sign the paperwork!
When submitting your offer, you’ll be asked to nominate a conveyance, lawyer, or settlement agent. That’s where you put down us.
Step 2: Obtain Finance
With an offer accepted, it’s time to obtain finance. Here, you have two options – cash or credit.
With a contract ‘subject to finance’, you’ll need to choose a lender, the amount to borrow, and apply for the loan. The seller will state a date by which financial approval needs to happen.
While you can approach a bank on your own, I recommend engaging with a Mortgage Broker. They’ll handle all the paperwork and find the best loan option for you.
Step 3: Pre-Settlement
Once finance has been approved, it’s time for pre-settlement. This is where I really get to work on your behalf – submitting enquires to the local shire, Water Corporation, Office of State Revenue and strata companies for rates, fees and legal requirements.
I’ll also liaise with your lender to make sure that they’re prepared to complete the settlement, and with Landgate to ensure that the title changes hands.
During this stage, the banks and the buyer will need to deposit the balance of the purchase price into the trust account.
You’ll also be encouraged to complete a final inspection of the property.
Step 4: Settlement
It’s time for settlement! All required legal documentation and funds will be exchanged, including the discharge of the seller’s mortgage and transfer of land.
Step 5: Post-Settlement
Post-settlement is the final stage. You get to pick up your keys! I’ll also provide you with a final statement for your records.
📞 If you have some questions or concerns during this process or require a settlement agent, please can give me a call.
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