Resources & Tools | Challenge Settlements

Resources & Tools

Here are some details and information you may find of use during the settlement and purchasing process.

SETTLEMENT PROCESS

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.

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 is a State Government form of revenue, or taxation, applied to various types of documents or transactions.
Generally most legal contracts attract this charge therefore Contracts for the purchase of Real Estate, a business purchase, documented gifts and other similar items attract stamp duty.

For details applicable to Real Estate transactions see "Stamp Duty" below. This clearly outlines the fee schedule for Buyers, Sellers and First Home Owners showing the property sale price and the relevant fees accordingly.

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TIMBER PEST INSPECTION

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. It is highly recommended that a Building and Timber Pest Inspection is included as a condition on your Offer and Acceptance contract.

MOVING REMINDER LIST
Download 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 and know who you need to notify of your new address.

SMOKE ALARM LEGISLATION
Download Smoke
Alarm Fact Sheet

Download this fact sheet to get answers to questions such as “Is it law for residential properties to have mains powered smoke alarms installed?” and “What is a compliant smoke alarm?”

RCD SAFETY SWITCHES
Download RCD
Fact Sheet

An RCD is a safety device that monitors electrical current flowing within a circuit from the switchboard. It works on the principle that the electricity current flowing in must be equal to the current flowing out of the circuit.

Download this fact sheet to get all the information on regulations regarding RCD safety switches.

If you work in Real Estate, we recommend subscribing to our monthly newsletter. We will keep you informed of all new regulations and changes relevant to the housing industry.

Challenge Settlements
Phone: 08 9271 6671
Mobile: 0406 570 613
Email: settle@challengesettlements.com.au

Challenge Settlement Services Pty Ltd (ABN 74 108 857 245)

The Trustee For The Challenge Settlements Discretionary Trust
(ABN 63 898 568 662)

T/as Challenge Settlement Services
Licensee; Challenge Settlement Services Pty Ltd (ACN 108 857 245)

Business Address:
Bedford Fair Shopping Centre
Corner Walter Road & Grand Prom
Unit 11, 72-74 Walter Road
Bedford WA 6052

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