To help you find out more about buying a house in Perth and our services, here are the answers to the following common questions. For any additional questions you can send us an enquiry or call us to discuss your particular requirements.
Q. We want to buy a property in Western Australia and have heard that the property purchase process is very different from the rest of the world. It also differs from other states in Australia. Is it true that solicitors are not involved in this process?
Yes, that’s correct. No solicitors are involved. Perth selling agents will write the Offer and Acceptance document. Once signed by the buyer and the seller, this document becomes a legally binding Contract.
Q. If the selling agent writes the Offer on our behalf, and this offer gets signed by the seller, will we be able to change the Contract later down the line?
That will be very difficult. The Contract itself is already legally binding before it reaches the settlement agent. It would be very difficult for the buyer’s settlement agent to change any terms and conditions without the consent of the seller. Settlement agents are not solicitors.
Q. Is it true that there is no cooling-off period in Western Australia?
That’s correct. Once the buyer has signed on the dotted line and the seller has accepted in writing the buyer’s Offer, there is no cooling-off period. There is practically no way back.
Q. Does the selling agent represent us, the buyers, and the seller at the same time? Would that not be a conflict of interest?
Yes, the selling agent represents both parties. Yes, there is a conflict of interest. The selling agent doesn’t have to disclose this conflict of interest to the buyer at any time. This may result in a less than satisfactory outcome for the buyer because the property transaction is handled by the selling agent who is appointed and paid by the seller.
Q. If we engage a buyer’s agent, would that buyer’s agent be able to share the fee with the selling agent?
In Western Australia selling agents are not obliged to share their fee with a buyer’s agent. If the fee is shared, the buyer’s agent will have to act as a joint agent with the selling agent. In such a case, the buyer’s agent will not be an independent party who serves solely the interests of the buyer. Only when the buyer is exclusively represented by a buyer’s agent, can the buyer be confident that the best possible outcome will be achieved with regards to the price and other terms of the Contract.
Q. Will the additional cost of the buyer’s agent fee make my purchase more expensive?
The fee will be justified by the better deal that the buyer’s agent will negotiate with the selling agent.
Q. Besides negotiations, what else does the buyer’s agent service include?
The service includes extensive research and advising the buyer on suitable properties. The buyer’s agent will alert the buyer to any potential pitfalls which may significantly disadvantage the buyer financially or otherwise. All inspections related to the property will be organized and followed through by the buyer’s agent until settlement.
Q. Is there any fee we need to pay upfront?
Property Buyers Services does not charge any upfront fee.