Hi all
I have never bought property in WA before (only bought in NSW and Qld), so I am just getting my head around the whole buying process as we have found a property we are interested in buying. My understanding thus far is that we need to make our offer in writing (on a standard form) and once accepted by the vendor we are contracturally bound. There is also no cooling off period. I was hoping some experienced purchaser's of WA property could help me with a few questions:
1. Is the Offer & Acceptance (O&A) form in place of a Contract of Sale that I would have used in other states? Does it include other docs like evidence of Title, sewer/water diagrams, site plan etc... like a Contract of Sale would?
2. Can I request a copy of the O&A form with any attachments to review prior to making our offer? Is this standard practice for a purchaser?
3. Would purchaser's ordinarily have a settlement agent review the O&A doc prior to signing, OR do I only engage a settlement agent's services after the offer has been accepted? I believe a settlement agent is similiar to using a converyancer in other states (?).
Finally I am trying to work out what special conditions would be necessary in WA to protect our interests and would be very grateful for any feedback or suggestions on how best to word these special conditions. So far I thought the offer should be subject to the following:
- a satisfactory pest inspection
- a satisfactory building inspection
- the ducted reverse cycle air conditioning being in working order (we would get it inspected)
- vacant possession on settlement (currently tenanted but they are supposedly wanting to move out before settlement)
I would also need to check that the 'subject to finance' clause on the standard O&A form protects our interests and wouldn't require any amendments.
Sorry for such a long post, but any feedback would be greatly appreciated. I have done related searches online, but if anyone has any helpful links or past SSF threads they want to direct me to that would also be great. Thanks!
Angela
I have never bought property in WA before (only bought in NSW and Qld), so I am just getting my head around the whole buying process as we have found a property we are interested in buying. My understanding thus far is that we need to make our offer in writing (on a standard form) and once accepted by the vendor we are contracturally bound. There is also no cooling off period. I was hoping some experienced purchaser's of WA property could help me with a few questions:
1. Is the Offer & Acceptance (O&A) form in place of a Contract of Sale that I would have used in other states? Does it include other docs like evidence of Title, sewer/water diagrams, site plan etc... like a Contract of Sale would?
2. Can I request a copy of the O&A form with any attachments to review prior to making our offer? Is this standard practice for a purchaser?
3. Would purchaser's ordinarily have a settlement agent review the O&A doc prior to signing, OR do I only engage a settlement agent's services after the offer has been accepted? I believe a settlement agent is similiar to using a converyancer in other states (?).
Finally I am trying to work out what special conditions would be necessary in WA to protect our interests and would be very grateful for any feedback or suggestions on how best to word these special conditions. So far I thought the offer should be subject to the following:
- a satisfactory pest inspection
- a satisfactory building inspection
- the ducted reverse cycle air conditioning being in working order (we would get it inspected)
- vacant possession on settlement (currently tenanted but they are supposedly wanting to move out before settlement)
I would also need to check that the 'subject to finance' clause on the standard O&A form protects our interests and wouldn't require any amendments.
Sorry for such a long post, but any feedback would be greatly appreciated. I have done related searches online, but if anyone has any helpful links or past SSF threads they want to direct me to that would also be great. Thanks!
Angela
