Evolution Settlements
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FAQs


Sellers

Buyers

Sellers

I have a mortgage on my property. How do I arrange to have this removed in time for settlement?

You should notify your bank as soon as you receive an Offer and Acceptance Contract to advise them that the property has been sold and the approximate settlement date.

Once the Offer and Acceptance Contract becomes unconditional you will be required, in most cases, to complete the Discharge of Mortgage Authority Form. Each bank has their own specific forms and different costs in relation to discharging the mortgage.

In most instances, we can provide these forms to you, they can be downloaded from your bank’s website or you can obtain one from a local branch.

Evolution Settlements will liaise with your bank to ensure that the documentation is being processed and that the bank will be in a position to meet the settlement date.

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There is a caveat on my Certificate of Title. How do I arrange removal in time for settlement?

You should notify your Caveator as soon as you receive an Offer and Acceptance Contract to advise them that the property has been sold and the approximate date for settlement.

You should advise your conveyancer of any payout amount due to the Caveator so that this can be included on your Settlement Statement.

Evolution Settlements will liaise with the Caveator or their solicitor to ensure that the Withdrawal of Caveat is ready for settlement.

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Do I need to install Hard Wired Smoke Alarms?

If you are selling a home built before 1997 you must arrange for a licensed electrical contractor to install mains powered smoke alarms, unless the buyer intends to demolish the property within six months from settlement or the construction of the building prohibits installation mains powered smoke alarms (in such cases smoke alarms with a ten year battery life are permitted).

Costs of installation and you should check with a local contractor for a quote. For further information visit http://internet.fesa.wa.gov.au

Failure to install a Hard Wired Smoke Alarm may attract a fine of up to $5000.00.

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Do I need to install Residual Current Devices?

If you are selling a property that was constructed before 2000 then you will likely need to arrange for a licensed electrical contractor to install at least two Residual Current Devices, unless the buyer intends to demolish the property within six months of settlement.

Costs for installation vary but a general guide is around $500.00. You should contact a local contractor to arrange a quote. For further information visit http://internet.fesa.wa.gov.au

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When do I need to vacate the property?

If the property that you are selling is your principal place of residence, then you have until midday the day following settlement to hand possession to the buyer.

If the property is not your principal place of residence then you must hand possession to the buyers immediately following settlement.

Keys should be delivered to the Real Estate Agent.

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Buyers

I am obtaining finance to assist with the purchase. What do I need to do?

You must notify your bank and make application for finance as soon as practicable after you have signed the Offer and Acceptance Contract.

You must communicate to the Real Estate Agent and Evolution Settlements as soon as you have received a finance approval (so that we can prepare the settlement documentation) or finance declined letter (so that we can close your file).

Evolution Settlements will provide you bank with the documentation that they require, track the progress of your Mortgage and book the settlement with your bank.

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I am applying for the First Home Owners Grant (FHOG). How do I arrange this?

Application for the FHOG can be made through the Department of Treasury and Finance (Office of State Revenue), your broker or your bank.

The grant is paid to your bank and forms part of the proceeds that your bank will have available for settlement.

Further information on applying for the FHOG can be found by visiting http://www.dtf.wa.gov.au

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When should I arrange my final inspection?

You should arrange the final inspection with the Real Estate Agent for no later than three business days before settlement. Any problems should be reported to your Conveyancer as soon as practicable following your inspection.

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When can I collect the keys to my new property?

If the seller resided in the property, then you may not be able to have possession of the property until midday the day following settlement.

You should check with the seller (through the Real Estate Agent or through Evolution Settlements) when the seller expects to vacate and factor this into any arrangements that you make with removalists.

Keys can be collected from the Real Estate Agent’s office.

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How do I connect the gas, electricity and telephone?

You can visit Alinta Gas, Synergy and your telephone service provider’s websites or call them to arrange for the services to be connected into your name.

This should be done before settlement to ensure that you have these services available when you move in.

Evolution Settlements cannot change these services on your behalf.

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What about water rates and council rates?

Evolution Settlements will contact the Water Corporation, the local shire and the Office of State Revenue to advise them of the change of ownership.

The services are changed into your name and rates are all adjusted on a pro-rata basis as part of the settlement process.

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