What is a Settlement Agent?

The first settlement agency started in 1967, with numbers growing to 30 by 1972. After much concern that no legislation governed settlement agents, and following much dispute with the legal fraternity and political lobbying, the Settlement Agents Act 1981 was proclaimed.

The Settlement Agents Association was incorporated in Western Australia in 1978, and was recognised in 1995 as the WA Division of the Australian Institute of Conveyancers
A Settlements or Conveyancer attends to your settlement either a sale or a purchase.

They make sure that the property is correctly identified and all the parties involved then the property can be conveyed (transferred) from one person to another.

Once I receive the Offer and Acceptance

  • I will check the Offer and Acceptance that it is executed property
  • Raise and Appointment to Act and Disclosure (for you to appoint me to act on your behalf)
  • Diarise all your dates on the O&A (i.e. finance, termite, building etc)
  • Co-ordinate with the Real estate agent that these are all achieved on time
  • Liaise with broker/bank manager to make sure unconditional finance is achieved on time
  • Once unconditional finance is achieved
  • Lodge O & A at office of state revenue for assessment of stamp duty (or lodge online)
  • do title searches, electronic advice of sales to Shire, Water Corporation, Land gate and Office of State Revenue.
  • Raise paperwork to your bank, other settlement and real estate agent
  • Raise paperwork for you to identify lot, sign transfer of land, OSR residential rate forms, research property and inform you of interests notified from land gate system.
  • Supply you with sewer plan, WA planning commission’s c42, Orders and Requisitions from the Shire etc
  • Co-ordinate broker/bank manager to attend settlement, and organise cheques needed from your bank to pay seller.
  • Attend to stamping at OSR
  • Attend settlement
  • Complete all statements and final letters and send to you.

Certified Practising Conveyancer (CPC)

Licenced Conveyancers Perth

The title of Certified Practising Conveyancer (CPC) is awarded to conveyancers who annually meet the standards set by each Division to maintain best practice through constant professional development.

Conveyancer members who qualify annually are entitled to use the CPC title, CPC post-nominal, CPC logo and slogan on their stationery, advertising and on other forms of publicity. It is a brand recognising conveyancers who are making the effort to keep up to date with developments and technology in order to deliver the best service.

The State programs are very similar but currently operate independently of each other. A national review is developing national minimum requirements across Australia, for licenced conveyancers including –

  • Minimum years of experience in practice as conveyancer
  • Minimum number of hours of Professional Development (above licence requirements in States and Territories that require compulsory professional development as a condition of licence renewal)

The national review is also considering replacement of the state logos with a national logo which is recognisable by all as a symbol of the best specialist conveyancers.

Information provided by the Department of Commerce website

Settlement Agent Fees PerthSettlement Agent Fees in Perth

Settlement agents are de-regulated and can set their own fees which must be disclosed to the client in writing prior to entering into any agreement. Agents must not receive a fee above the disclosed amount unless there is a significant change in the scope of the work.

Costs disclosure

Prior to being appointed to act by the client, settlement agents are now required to provide their client with a written costs disclosure which sets out the maximum amount the settlement agent can charge for their services. This amount must include all fees, commissions, charges and general office disbursements (e.g. photocopying, postage, stationery, telephone calls, facsimiles, courier costs etc.) that the settlement agent will charge the client for their settlement transaction.

Statutory and other costs

The maximum amount disclosed to the client must not include statutory or other costs payable by the settlement agent on the client's behalf. These costs include:

  • Duty chargeable under the Duties Act 2008 such as transfer duty (previously known as 'stamp duty');
  • Any other tax, duty, fee, levy or charge payable under law such as title search fees through Landgate;
  • Fees payable to bank and other financial institutions; or
  • Commissions charged by a real estate agent, developer or any other third party.

PEXA Fees (Electronic Conveyancing)

Property Exchange Australia LTD's (PEXA) single transaction service fee will be incorporated into the maximum service amount that settlement agents disclose to you.

settlement discount

20/171 Labouchere Road
Como WA 6152
Please forward all correspondence to:
PO Box 2155, Como WA 6152

Phone: (08) 9368 5359
Fax: (08) 9367 8306

AICWA CPC