RG Settlements

By RG Settlements Team | Perth, Western Australia

Appointing a settlement agent before signing a WA property contract can identify practical problems while the terms can still be negotiated. The agent can check names, settlement dates, finance details and settlement-related conditions. Tailored legal advice or clause drafting may still require a solicitor, especially where the transaction is unusual or disputed.

Key takeaways

• WA property contracts generally have no mandatory cooling-off period.
• The buyer and seller each have the right to choose their own settlement agent or solicitor.
• Early checks can identify ownership-name, finance, date, inspection and mortgage issues.
• A licensed settlement agent must provide written costs disclosure before the appointment is signed.
• Complex legal drafting, disputes and tax or structuring advice should be referred to the appropriate professional.

Why does the timing matter?

Once a WA seller accepts the O&A and acceptance is communicated, the parties are generally bound. Consumer Protection confirms there is no general mandatory cooling-off period for ordinary WA real estate contracts unless the parties insert one.

After acceptance, the settlement agent’s job is usually to implement the contract rather than renegotiate it. An unclear condition, unrealistic date or incorrect purchaser name can be harder and more expensive to fix once the other party’s agreement is required.

What can be checked before a buyer signs?

From a conveyancing perspective, an early review can focus on practical matters that directly affect settlement:

• the exact legal name of each buyer;
• whether a company, trust or SMSF is proposed;
• the finance condition, lender and approval date;
• building, pest and other inspection conditions;
• the deposit, settlement date and possession arrangements;
• items included with or excluded from the sale;
• known title, strata or authority issues; and
• time needed for identity, AML, duty and lender requirements.

This does not mean that every settlement agent provides legal advice on every clause. If you require a new special condition, advice about enforceability or a complex ownership structure, obtain advice from a suitably qualified solicitor and any necessary tax or financial adviser.

What can be checked for a seller?

A seller can benefit from early attention to the title, registered owner names, mortgage discharge, company or trust authority and any deceased-estate or attorney documents. These issues do not always appear for the first time on settlement day, but late discovery leaves fewer options.

The seller should also understand the proposed settlement date and special conditions, including any obligation to complete work, provide access or satisfy an inspection outcome. The selling agent negotiates the sale; the settlement agent manages the conveyancing and settlement work.

What does a settlement agent do after appointment?

Consumer Protection WA says a settlement agent is expected to prepare and lodge transfer documents, make necessary enquiries about title, rates and zoning, check relevant inspections and special conditions, request funds, keep the client informed and attend settlement on the client’s behalf.

In an electronic settlement, the agent also coordinates the workspace, verifies readiness with other participants and arranges the financial and registration steps. Learn more about e-conveyancing in WA.

Can the selling agent choose your settlement agent?

No. The buyer and seller can each choose their own settlement agent or solicitor. Consumer Protection’s O&A guidance says a buyer may write their chosen settlement agent or solicitor into the offer.

You should make an independent choice and consider licensing, responsiveness, experience, fees and conflicts. A settlement agent cannot act for both buyer and seller unless both consent in the appointment documentation, and a conflict may require withdrawal.

What documents are involved in the appointment?

A licensed WA settlement agent must give the client written costs disclosure stating the maximum service fee before the appointment is signed. The agent also provides a Form 1 Appointment to Act and, if a relevant relationship may create a conflict, a Form 2 Disclosure Notice.

Read the scope and disclosed charges carefully. Statutory charges and third-party disbursements are separate from the professional service fee and should be identified clearly.

Does a settlement agent replace a solicitor?

No. Settlement agents are licensed to perform defined conveyancing and settlement work. Solicitors can provide broader legal advice, draft tailored clauses and act in disputes. Some professionals are both legal practitioners and licensed conveyancers, but the capacity in which advice is provided should remain clear.

Tax advice belongs with an accountant or registered tax adviser. Loan suitability belongs with a lender or licensed mortgage broker. Structural and pest findings belong with appropriately qualified inspectors.

What if the contract is already signed?

Appoint your settlement agent immediately. Early post-contract appointment is still valuable because finance, inspection, identification, duty, mortgage discharge and document deadlines may begin running straight away.

Provide the complete signed contract and every annexure. Tell the agent promptly about finance concerns, gifts or overseas funds, trusts, companies, attorneys, deceased estates, existing tenants or agreements made outside the written contract.

Frequently asked questions

Must I use the settlement agent named by the real estate agent?

No. You have the right to choose your own settlement agent or solicitor.

Can a settlement agent draft a special condition?

The answer depends on the professional’s qualifications and the work required. Tailored legal drafting should be handled or reviewed by a solicitor.

Will an early review guarantee there are no problems?

No. It can identify visible settlement risks and improve preparation, but no professional can guarantee that every issue will be discovered or that settlement will be problem-free.

When should I appoint RG Settlements?

Ideally before signing, or immediately after acceptance if the contract is already in place.

Bring your settlement professional in early

A short conversation before signing can be far more useful than trying to repair an avoidable problem after the contract becomes binding.

Contact RG Settlements or learn about our buyer and seller settlement services across Perth and Western Australia.

This article is general information only and not legal or financial advice. For advice about your specific situation, please get in touch with our team.

Authoritative sources

• Consumer Protection WA – Property settlement
• Consumer Protection WA – Choosing a settlement agent
• Consumer Protection WA – Sale by offer and acceptance guide

About RG Settlements

RG Settlements assists buyers and sellers with property settlement and conveyancing in Perth and Western Australia. Meet our team or request a settlement quote.

By RG Settlements Team | Perth, Western Australia

Before making a property offer in WA, check the price, deposit, finance condition, inspection rights, settlement date and every special condition. Western Australia has no mandatory cooling-off period for ordinary real estate contracts. Once the seller accepts the offer and acceptance is communicated, the contract is generally binding on both parties.

Key takeaways

• There is no general mandatory cooling-off period for ordinary WA property contracts.
• The Offer and Acceptance and the incorporated General Conditions should be read together.
• A finance condition, building inspection or subject-to-sale protection must be recorded clearly in the contract.
• A seller can choose between competing offers and does not have to accept them in the order received.
• Making more than one offer can expose a buyer to more than one binding contract.

When does a WA property offer become binding?

A written offer is normally made using the Contract for Sale of Land or Strata Title by Offer and Acceptance, commonly called the O&A. The seller can reject it, accept it or make a counter-offer. Consumer Protection WA says the signed O&A becomes binding once the parties agree on the terms and the seller’s acceptance is communicated to the buyer.

You can generally withdraw an offer before the seller signs and communicates acceptance. Timing can be disputed, so do not rely on an informal message or assumption. If you want to withdraw, obtain advice and give clear written notice immediately.

Is there a cooling-off period in WA?

No general mandatory cooling-off period applies to ordinary real estate contracts made in Western Australia. Consumer Protection WA says that a cooling-off period only applies if the parties agree to insert one into the contract.

This is different from practices buyers may have heard about in some eastern states. Do not sign on the assumption that you will automatically have several days to reconsider. Your protection should be negotiated before acceptance through carefully drafted conditions and proper due diligence.

What should you check before signing?

1. The buyer’s name and ownership structure

Confirm the exact legal name of every purchaser. If a company, trust or SMSF may be used, obtain legal, tax, lending and financial advice before the offer is signed. Changing the purchaser later can create duty, finance, nomination, authority and AML complications.

2. Finance

If a loan is required, the contract should contain an appropriate finance condition. Check the lender, required amount and deadline. Consumer Protection warns buyers not to make a cash offer when finance is required without professional advice.

Pre-approval is helpful but is not always unconditional approval for the particular property. A lender may still require valuation, documents or other conditions.

3. Building and pest inspections

Decide what inspections you need, who will perform them, who will pay and what happens if the report identifies a problem. A condition limited to substantial structural damage may not protect you against every expensive defect, pest issue or non-compliant alteration.

4. Settlement date and other deadlines

Check that the proposed settlement date is realistic for finance, duty, identification, document signing and mortgage discharge. Record clear deadlines for finance, inspections, sale of another property and any work the seller must complete.

5. Deposit

The contract should state the deposit amount, due date and deposit holder. The contract deposit is different from the deposit or equity required by your lender. Do not transfer funds based only on emailed bank details; independently verify the trust account using a known telephone number.

6. Fixtures, chattels and excluded items

Record what stays with the property and what the seller will remove. Items such as appliances, solar equipment, sheds, security systems and pool equipment can cause disagreement if the contract is silent.

7. Title, strata information and property use

Review the title, encumbrances and any relevant strata disclosure. Consider easements, restrictive covenants, leases, proposed developments and whether the property suits your intended use. A settlement agent handles the conveyancing process, but planning, building, structural and complex legal issues may require separate specialists.

Should you make offers on more than one property?

There is no blanket WA law saying a buyer may have only one outstanding offer. The real danger is contractual: if two sellers accept, the buyer may become legally bound to purchase both properties.

Consumer Protection confirms that a seller may receive several offers and can accept any one of them or none. If you are considering multiple offers, obtain legal advice about expiry, withdrawal and conditions rather than relying on a verbal understanding.

Why involve a settlement agent before signing?

Early involvement allows practical settlement issues to be identified before they become fixed contractual obligations. Your proposed buyer name, settlement date, finance details, inspection condition and special requirements can be checked from a conveyancing perspective.

A settlement agent does not replace a solicitor where you need legal advice or tailored clause drafting. RG Settlements can explain the settlement implications and identify when a matter should be referred for legal, tax, financial or building advice.

Learn more about our residential buying settlement service or use our WA stamp duty calculator for an initial estimate.

Frequently asked questions

Can I change my mind after the seller accepts?

Usually not simply because you changed your mind. Any termination right depends on the contract, an applicable condition or another legal ground. Obtain urgent legal advice before attempting to terminate.

Does paying no deposit mean there is no contract?

No. Consumer Protection states that a deposit is not mandatory. A binding contract can exist even where no deposit was required or the deposit has not yet been paid.

Does a finance condition guarantee I can withdraw?

No. The exact wording, application requirements, lender response, notices and deadlines matter. Tell your settlement agent immediately if finance is delayed or refused.

Who chooses the buyer’s settlement agent?

The buyer has the right to choose their own settlement agent or solicitor and can nominate that professional in the O&A.

Before you put pen to paper

A strong offer is not only about price. Clear conditions and realistic dates can protect the transaction and reduce uncertainty for everyone involved.

Send RG Settlements the proposed contract before signing, or appoint us as soon as your offer is accepted. We assist property buyers from Victoria Park across Perth and Western Australia.

This article is general information only and not legal or financial advice. For advice about your specific situation, please get in touch with our team.

Authoritative sources

• Consumer Protection WA — offer and acceptance contracts
• Consumer Protection WA — property inspections

About RG Settlements

RG Settlements assists buyers and sellers with property settlement and conveyancing in Perth and Western Australia. Meet our team or request a settlement quote.

By RG Settlements Team | Perth, Western Australia

The new AML laws for WA property sellers mean real estate agents, settlement agents and some other professionals may need more information before completing a sale. Sellers should expect identity and authority checks, questions about ownership structures and closer attention to unusual payment directions. Providing accurate documents early can help prevent avoidable delays.

Key takeaways

• From 1 July 2026, AML/CTF obligations apply to designated real estate and conveyancing services used in WA property sales.
• An individual seller may be asked for their legal name, date of birth, residential address and reliable identification.
• Companies, trusts, attorneys and deceased estates usually require extra documents showing ownership, control and authority.
• Source-of-funds and source-of-wealth enquiries are risk-based, so every seller will not receive the same request.
• Directing sale proceeds to an unrelated third party can prompt further checks.

What do the new AML laws for WA property sellers change?

From 1 July 2026, Australia expanded its anti-money laundering and counter-terrorism financing regime to designated real estate and conveyancing services. WA sellers may now face formal customer checks from more than one property professional. AML/CTF means anti-money laundering and counter-terrorism financing.

According to AUSTRAC’s real estate guidance, a seller’s agent starts the regulated brokering service when the agency agreement is signed. Conveyancers can also provide designated services when preparing transfer documents and preparing for settlement.

When will a WA seller be asked to complete AML checks?

A WA seller will commonly begin AML checks when appointing the selling agent and may complete further checks with the settlement agent once a transaction exists. Timing depends on the service and stage of the sale, and limited delayed-verification rules may apply.

What information can a WA property seller be asked to provide?

A WA seller can be asked to establish their identity, ownership or control of the property, authority to give instructions and the purpose of the transaction. The exact documents depend on whether the seller is an individual or entity and on the assessed risk.

For an individual, this may include:

• full legal name, date of birth and residential address;
• a current driver’s licence, passport or other reliable identification;
• confirmation of the seller’s interest in the property;
• details of anyone acting for the seller; and
• the purpose and expected nature of the sale.

AUSTRAC’s individual customer guidance also requires regulated businesses to consider whether relevant people are politically exposed persons or subject to targeted financial sanctions.

Will every seller need to prove their source of funds or wealth?

No. Source-of-funds and source-of-wealth checks are risk-based rather than an identical requirement for every seller. A straightforward residential sale may not require extensive financial evidence, while unusual, complex or inconsistent circumstances can lead to more enquiries.

Questions may concern how the property was acquired, a rapid resale, back-to-back transfers or unusual sale-proceeds directions. AUSTRAC’s source-of-funds and source-of-wealth guidance confirms that higher-risk or unusually complex transactions can justify deeper checks.

What if a company or trust owns the property?

A company or trust seller should expect additional checks because the regulated professional must understand the entity, the person giving instructions and the individuals who ultimately own or control it.

For a company, this may include its registered name, ACN or ABN, directors, authorised representative and beneficial owners. A beneficial owner ultimately owns or controls the entity.

For a trust, this may include the trust deed, trustee details and information about relevant controllers. AUSTRAC’s trust guidance explains the people who may need to be identified.

What if an attorney or executor is selling the property?

An attorney, executor or administrator should expect identity and authority checks. Provide the power of attorney or estate documents early. Landgate requires signatories to be identified, including attorneys, executors and administrators.

For a deceased estate, an executor or administrator generally needs a Grant of Probate or Letters of Administration before a transmission application can be lodged. RG Settlements assists with deceased-estate property transfers.

Can sale proceeds be paid into another person’s account?

A direction to pay sale proceeds to another person is not automatically unlawful, but it may require an explanation, verified authority and supporting documents before settlement.

AUSTRAC identifies unrelated third-party sale-proceeds directions as a potential warning sign. Raise them early and verify any bank-detail change through an established contact method.

Why might the agent and settlement agent ask similar questions?

The selling agent and settlement agent may each have AML/CTF obligations. AUSTRAC says that both seller and buyer are customers of the agent who brokers a successful sale. Reliance arrangements may reduce duplication, but one identity check will not always cover every professional.

How can a seller avoid AML-related settlement delays?

Most WA sellers should complete the checks without difficulty. Delays are more likely when names do not match, structures are disclosed late or authority documents are missing. Identify these features early.

1. Use your full legal name consistently on the contract, title documents and identification.
2. Appoint your settlement agent promptly and answer onboarding requests early.
3. Disclose any company, trust, power of attorney, deceased estate or overseas owner immediately.
4. Explain any third-party payment or unusual arrangement before settlement approaches.
5. Send sensitive documents only through the secure method confirmed by the professional.

RG Settlements is based in Victoria Park and assists sellers throughout Perth and Western Australia with residential selling settlements and e-conveyancing.

Frequently asked questions

Does an AML check mean I am suspected of a crime?

No. Customer due diligence is routine for regulated property services. Further questions do not, by themselves, mean a seller is suspected of wrongdoing.

Is an AML check the same as Landgate verification of identity?

No. Landgate VOI focuses on identity and authority to deal with WA land. AML checks can also consider ownership, representatives, purpose, risk and payment arrangements.

Can a professional stop acting if I do not provide information?

A regulated business may be unable to start or continue a covered service if required checks cannot be completed. Ask what remains outstanding and why.

Do the new laws apply to a private sale without an agent?

A private seller is not automatically providing a regulated brokering service. However, the settlement agent, conveyancer or lawyer assisting with the transfer may still require AML checks.

Need help preparing for your WA property sale?

The new AML laws add compliance steps, but early preparation can keep a WA sale moving. RG Settlements provides calm, plain-English guidance through to electronic settlement.

Contact RG Settlements early, particularly if a company, trust, attorney, deceased estate or unusual payment direction is involved.

This article is general information only and not legal or financial advice. For advice about your specific situation, please get in touch with our team.

About RG Settlements

RG Settlements assists buyers and sellers with property settlement and conveyancing in Perth and Western Australia. Meet our team or request a settlement quote.

By RG Settlements Team | Perth, Western Australia

The new AML laws for WA property buyers took effect on 1 July 2026. Buyers can now expect broader identity and transaction checks from regulated property professionals, including questions about how the purchase is funded and whether a trust, company or SMSF is involved. These are routine safeguards, but incomplete information can slow the transaction.

Key takeaways

• From 1 July 2026, AML/CTF obligations apply to designated property services provided by conveyancers, real estate professionals, lawyers and certain other businesses.
• A WA buyer may be asked for photo ID, address, date of birth, payment information and details of any trust, company or ownership structure.
• Source-of-funds and source-of-wealth checks are risk-based, so not every buyer will be asked for the same documents.
• Providing accurate documents early can reduce avoidable settlement delays.

What are the new AML laws for WA property buyers?

Australia expanded its anti-money laundering and counter-terrorism financing regime to additional property-related services from 1 July 2026. Regulated businesses must know who their customers are and assess financial-crime risk.

AML/CTF means anti-money laundering and counter-terrorism financing. AUSTRAC, Australia’s financial intelligence regulator, says newly regulated sectors include real estate, conveyancing, legal services and accounting.

For a settlement agent or conveyancer, a covered service can include helping to plan or complete a property transaction, preparing for settlement and coordinating transfer documentation.

Why are property professionals asking buyers for more information?

Property professionals ask because customer due diligence is now part of their legal compliance process. These checks are routine and do not mean an ordinary buyer is suspected of wrongdoing.

A regulated business may need to establish:

• your identity and residential address;
• the identity and authority of anyone acting for you;
• the beneficial owners of a company, trust or other entity;
• whether a relevant person is politically exposed or subject to targeted financial sanctions; and
• the purpose and expected nature of the transaction.

A beneficial owner ultimately owns or controls an entity. A politically exposed person, or PEP, holds prominent public responsibilities.

What information might a WA property buyer need to provide?

A WA property buyer will commonly be asked for identity details and an explanation of how the purchase will be funded. The documents depend on the buyer, ownership structure, payment pathway and risk assessment.

According to AUSTRAC’s information for property buyers, a successful purchaser may be asked for photographic identification showing their full name, residential address and date of birth. A buyer may also be asked:

• how the property is being paid for;
• whether a trust or another legal arrangement is involved; and
• whether the buyer is a PEP.

You may need to explain the source of your deposit or settlement money. A company, trust or SMSF purchase can require entity documents and details of the people who control it. An attorney may need to prove their authority to act.

This is not a fixed checklist. Your settlement agent should explain what is required and how to provide it securely.

Will every buyer have to prove their source of funds and wealth?

No. These checks are risk-based, and the depth of verification depends on the customer and transaction. Most buyers should still be ready to explain where their deposit and settlement money came from.

Source of funds means how the purchase money was earned or obtained, such as wages, business income, investments, a property sale, a gift or inheritance. Source of wealth concerns how a person accumulated their overall assets.

AUSTRAC’s source-of-funds and source-of-wealth guidance lists possible evidence including employer or accountant letters, pay information, property-sale records and estate-distribution documents.

Unexplained third-party payments, complex structures, offshore funds or inconsistent information may prompt further questions.

Is an AML check the same as Landgate verification of identity?

No. Landgate verification of identity helps prevent land-title fraud and confirms identity and authority to deal with land. AML customer due diligence also considers ownership, representatives, transaction purpose, funding and financial-crime risk.

Landgate confirms that its verification-of-identity practice applies to nominated electronic and paper-based land transactions in Western Australia. A buyer may complete VOI and still receive broader AML questions.

Why might more than one business ask the same questions?

The real estate agent, buyer’s agent, settlement agent, lawyer and lender can each have separate obligations. AUSTRAC says that, for a brokered sale, both the buyer and seller can be customers of the real estate reporting entity.

One business cannot always rely on another’s checks, so some repetition is normal. Keep a secure set of current documents so repeat requests are easier to manage.

Can AML checks delay a WA property settlement?

Yes. A regulated business generally needs to complete initial customer due diligence before providing a covered service, although limited delayed-verification rules can apply. The business may be unable to act if it cannot establish the required matters.

To reduce delays:

1. appoint your settlement agent early;
2. use your full legal name consistently across the contract, loan and ID;
3. disclose any company, trust, SMSF, attorney or third-party contributor immediately;
4. keep records showing the path of your deposit and settlement funds; and
5. send sensitive documents only through a verified, secure channel.

RG Settlements assists buyers across Perth and Western Australia with residential buying settlements and e-conveyancing. Early onboarding gives us more time to identify what is needed before deadlines become urgent.

Frequently asked questions

Does an AML request mean I am suspected of money laundering?

No. Identity and transaction questions are routine customer due diligence. Extra enquiries do not, by themselves, mean a buyer is accused of wrongdoing.

Can I refuse to provide the requested information?

You can decline, but the business may be legally unable to begin or continue the covered service if it cannot complete its checks.

What if my deposit was a gift from family?

Tell your settlement agent early. You may be asked who provided the gift, how the donor obtained the money and how it reached the transaction.

Are companies, trusts and SMSFs affected?

Yes. Information may be needed about the entity, the people who control it and anyone acting on its behalf. Obtain separate accounting, financial and legal advice about the structure.

Need help preparing for your WA property purchase?

The new AML laws for WA property buyers add some onboarding steps, but an organised buyer should be able to complete them smoothly. RG Settlements is based in Victoria Park and assists buyers throughout Perth and Western Australia with calm, plain-English guidance.

Contact RG Settlements as soon as your offer is being prepared or accepted so we can explain the settlement process and information likely to be required.

This article is general information only and not legal or financial advice. For advice about your specific situation, please get in touch with our team.

About RG Settlements

RG Settlements assists buyers and sellers with property settlement and conveyancing in Perth and Western Australia. Meet our team or request a settlement quote.