FAQ’s

Frequently Asked Questions

The settlement process can be daunting, the Black Swan Settlement team can help guide you through the process and give you expert advice to ensure an easy transition from and to homeownership.

View our frequently asked questions to answer your queries, or if you wish to know more about the process or schedule an appointment, visit our contact page to get in touch.

Why do I need a Settlement Agent in Perth?

Settlement Agents in Perth are licensed with the Department of Commerce Western Australia. We have a Code of Conduct to uphold and are regularly audited by statutory departments in Western Australia to ensure that we are representing buyers and sellers in Western Australia in accordance with the prescribed legislation.

Will I need to visit your offices?

Most clients prefer to have their paperwork delivered by email or post. However, if you’d rather complete your settlement paperwork face-to-face, you’re welcome to visit our office.

Why do you have to verify my identity?

Landgate regulations require that all registered proprietors and buyers have their identities verified prior to the registration of any instrument that changes the ownership of land in Western Australia. The most common form of Identification required is your passport and driver’s licence. You will need to come to our office to identify yourself or attend Australia Post to complete the ID check.

When do I notify the Shire or Water Corporation of Settlement?

Black Swan Settlements will notify the local shire, the Water Corporation and your strata management of the change in ownership. A buyer or seller will need to organise the power, gas and telephone accounts personally as we are unable to do that on your behalf.

How long will my Settlement take?

This depends on whether your deal is cash or whether a bank will be providing funds. Typically, banks can take up to 28 days to prepare for settlement whether that be to discharge your mortgage or prepare for a new mortgage. Cash deals can be settled quicker. The settlement date is never guaranteed so make sure you let all parties know if you will be away or if there are any factors affecting your settlement.

When will I receive my funds from a sale?

Currently the practice is to exchange bank cheques at settlement, therefore funds can take from 1-3 working days to clear. E-conveyancing through the PEXA platform provides cleared funds moments after settlement. We therefore recommend e-conveyancing, or electronic settlements if you would like your funds as soon as possible after settlement. Black Swan Settlements are utilising PEXA (e-conveyancing, e-settlements, electronic settlements) where possible to ensure that the transactions are completed in an efficient manner.

When will I receive my Certificate of Title from a purchase?

If you have paid cash for your property and no bank or financial institution is involved, you will receive your title, or a copy of your title as soon as Landgate have registered the Transfer. Currently for property settlements in Perth Landgate can take from 2-6 weeks to update the Land Registry, however, if you choose to settle utilising PEXA (e-conveyancing, e-settlements, electronic settlements), your title should be updated by close of business on the day of settlement.

When do I pay you?

There are no upfront costs payable to us. Our fees will be shown on your settlement statement and we will collect them at settlement. If you are a cash buyer, we will require the settlement funds to be transferred into our trust account at least 3 business days prior to settlement.

What are some of the disbursements associated with my settlement?

When acting for a purchaser, we undertake an Electronic Advice of Sale which notifies the Office of State Revenue to provide a statement regarding land tax, the Water Corporation (to provide a rate statement), and your local shire. This fee can vary as each Shire charges a different fee for conducting the service.