Resources & Tools

Settlement FAQ's

What is Conveyancing?

Conveyancing is the transfer of property ownership from one party to another. The exercise is not just a matter of filing out forms. The laws associated with transfer of land are complex and can be full of pitfalls.
It is therefore important that you choose a competent settlement agent like Challenge Settlements to assist you in your property purchase or sale.

Timber Pest Inspection

The timber pest inspection report

Before you buy a home, it is recommended that you have a timber pest inspection report prepared to make sure the property is not infested by termites or other timber pests. Including a timber pest inspection condition on your offer The standard buying/selling contract for the transfer of property has two sections, the: Contract for the Sale of Land by Offer and Acceptance (commonly called the "O & A"); and Joint Form of General Conditions for the Sale of Land (also referred to as simply the General Conditions). The General Conditions cover important contractual obligations for both buyer and seller.

Sellers Hints

Buyers Hints

Settlement Process - Buyers

The settlement process when acting for a buyer.

For most of us, the process of purchase to settlement is a confusing one, simply because most of us only buy a property every five to 10 years, or often less frequently.

The most frequently asked question from our clients is, "Where can we find out more information on the process and what is required of us?"
We have tried to outline the process below, however, it must be remembered that no two transactions are the same so this is a general guide only and will not necessarily cover every situation that may arise. Wherever you have a query or concern, you should be seeking guidance and assistance from your settlement agent.

It should also be noted that settlement fees are higher for a buyer than a seller; this is simply because the process is more complex and requires numerous additional tasks to be undertaken when acting for a buyer.

Stamp Duty

What is it?

Stamp Duty is a State Government form of revenue, or taxation, applied to various types of "documents" or "transactions."
Generally most legal contracts attract this charge, as well as insurance premiums and vehicle registration.

Thus, "Contracts" for the purchase of Real Estate, a business purchase, documented gifts, mortgages and other similar items attract stamp duty.

For details applicable to Real Estate transactions, see firstly "Rates" below or our Settlement Fee Calculator.

Moving Reminder List

Moving house can be a daunting task as there are so many things to think about. So Challenge Settlement Services has put together a checklist to help you plan your move.

Settlement Process - Sellers

The settlement process when acting for a seller.

For most of us, the process of sale to settlement is a confusing one, simply because most of us only sell a property every five to ten years, or often less frequently.

The most frequently asked question from our clients is, "Where can we find out more information on the process and what is required of us?"

We have tried to outline the process below, however, it must be remembered that no two transactions are the same so this is a general guide only and will not necessarily cover every situation that may arise. Wherever you have a query or concern, you should be seeking guidance and assistance from your settlement agent.