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Burn Professional Conveyancing

Phone: +61 8 9401 1211

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24.01.2022 Excellent news.

22.01.2022 Messages today from our lovely clients; "Hi Courtenay Thankyou for being very professional. Outstanding actually. I shall definitely use you when I move back to WA.... Kindest regards Wendy." "Thank you Courtenay for a job well done. Best wishes & kind regards, Mark."

20.01.2022 If there is one thing all successful people have in common, it is relentless hard work and motivation. You dont need to always love your job, but you need to be motivated to always do your best.

20.01.2022 Older Australians looking to downsize may benefit from changes to superannuation which will allow those who meet the eligibility requirements to make a sizeable contribution to their super from the proceeds of the sale of their home. From 1 July 2018, eligible individuals aged 65 years or more who sell a home they have owned for at least 10 years will be able to contribute up to $300,000 from the proceeds into their superannuation accounts - over and above existing contributi...on caps and restrictions, including the current total super balance cap of $1.6 million. Both members of a couple will be able to take advantage of this measure, therefore together having the potential to contribute up to $600,000 from the proceeds of the sale into their super. Other important information downsizers should be aware of when considering this option include: The date of contracts exchange must be on or after 1 July 2018, Work test rules do not apply - i.e. you can be retired and still make a downsizer contribution, Downsizer contributions are not tax deductible and will be taken into account for determining eligibility for the age pension, If you sell your home, are eligible and choose to make a downsizer contribution, there is no requirement to purchase another home, The house sold must be in Australia and cannot be a caravan, houseboat or other mobile home, Proceeds from the sale of the house (capital gain or loss) are exempt or partially exempt from Capital Gains Tax (CGT), Contributions to your super from the downsizing sale must be deposited into your super account within 90 days of receiving the proceeds, Individuals can only take advantage of the downsizer super option once, and A SATO form must be completed and lodged with your super fund at the time the funds are contributed. It should be noted that in cases where the ATO finds that downsizer contributions do not comply with the rules, penalties may apply. If you have an interest in either the FHSS scheme or downsizing, contact your super fund or accountant for further information.

19.01.2022 Theres been lots of questions this week regarding the conditions and qualification criteria of the new Grants available - more info here.

17.01.2022 Did you know that as of July 1st whether you are buying or selling a property, a goods and services tax (GST) may be payable to the Australian Taxation Office at settlement. This is not a new tax just an efficient way of ensuring GST is collected. As a general rule, GST will only be applicable if the seller is registered for GST and the sale is of a new residential home or land. If in doubt, speak to your taxation professional to understand your obligations to pay .... Failure to disclosure or pay GST can result in penalties so its important that you understand your obligation. If you are considering purchasing a new home or vacant land, avoid the heart break of costly mistakes or unexpected costs, and get the right advice. Please call the office on 9401 1211 or email, [email protected] and we would be happy to assist.

16.01.2022 Do financial contributions towards property give you a legal interest in that property? Interesting article discussing that subject here.

16.01.2022 Some interesting proposed changes are being discussed at the moment by the government concerning stamp duties for property buyers. You may like them or not so much. 1. Firstly, the First Home Owner Grant Amendment Bill 2017. A recommendation has been made to increase the first home owner grant payment (for new builds) from $10k to $15k. The decision is pending however, the measure is broadly supported by the property & building industry.... 2. Foreign buyers duty surcharge: The surcharge is a pre-election commitment and 2017-18 budget announcement. Legislation is currently being drafted. Legislation is anticipated to commence 1 January 2019. The surcharge will be 4%. Surcharge pplies to foreign companies and trusts as well as natural persons. Permanent residents are not considered foreign.

15.01.2022 Recommended Electrician Its government legislation for Sellers to ensure that they have compliant operating RCDs and smoke alarms in place before transfer of Title at settlement. For your ongoing safety, insurance validation and for peace of mind its always worth getting the checked, if in any doubt.

15.01.2022 It’s crystal clear that the government wants to encourage the construction of new homes and these extra incentives may prove a windfall for some.

14.01.2022 Proud to be a fully accredited AICWA member, providing the best service possible to our clients.

13.01.2022 Fully trained, accredited and ready to settle online here. The new age of conveyancing is coming.

13.01.2022 A block of land is the canvas for building your dream home. Some tips on choosing the right block of land.

13.01.2022 When someone you love passes away, the overwhelming paperwork is often just an additional burden at an already difficult time. Whether you are an executor or beneficiary, we can assist with transferring property ownership (free of transfer/stamp duty).

12.01.2022 Stays Goes They say you can’t take it with you when you die, but how about when you move? Some say that if it ain’t nailed down it’s yours to take, but is this true? What’s the general rule on what you can and can’t take? https://aicwa.com.au/if-it-aint-nailed-down/

11.01.2022 More lovely clients; "Good morning Courtenay, Many thanks Courtenay for the fantastic job you have done settling this property for us. It wasnt straightforward with all the goings on but you kept our mind at ease at all times with your professionalism. You have been an absolute pleasure to work with and we thank you immensely for the ease in which this whole process flowed.... We have a property on the market at the moment and when it eventually does change hands we will most certainly be contacting you to do our end of the settlement. So in saying that I do look forward to chatting again with you some time in the future. Take care and sending you our kindest of regards, John and Ann-Maree" See more

10.01.2022 The AICWA posted the below information which provides some insight in to what Conveyancers do, with a smile of course. "Demystifying what conveyancers actually do is a massive challenge. With unprecedented change having occurred in the last 5 years, conveyancing has increasingly become a complex profession comprising of many checks and balances. Put simply its about trust. Whether its the banks, land titles office, the ATO, the office of state revenue or local councils, th...ey all trust conveyancers will get it right. Like an elegant swan gliding across a picturesque lake its the hard work below the surface that makes its all happen. Whether its supporting the seller once the contract is signed or being the buyers advocate, the role of the conveyancer is integral to transferring property. Adrian Ballantynes article for realestate.com scratches the surface of a behind-the-scenes guide to conveyancing. See more

08.01.2022 Would your clients like to win $1k off the cost of buying or selling their property? If they do, then tell them to tune into Nat, Nathan and Shaun on Nova FM all this week because thanks to PEXA, the AICWA is giving away $1K every day for 5 days . Thanks to Australian Institute of Conveyancers WA Division (AICWA)

08.01.2022 Ive returned from Melbourne this week following visiting the headquarters of the massive innovation that is PEXA (Property Exchange Australia). At the visit, I was made to feel welcome and was able to have my questions personally addressed. I learnt more about the electronic conveyancing platform which is mandated for use by Lawyers and Conveyancers in WA from the 1st May 2018. This massive change in the way properties change hands and are settled in WA has been introduced ...by the government on a non-optional basis for standard settlement transactions so it is critical to ensure your settlement agent is totally conversant with the platform. At the visit, I witnessed the real time ongoing work being put into the development of the platform. The insight provided has really impressed me and given me the confidence needed to utilise the platform for my clients benefit. I feel confident that Cameron and I have the knowledge to offer our clients the assurance that we have the skills to ensure their settlement happens professionally, properly and on time. We are PEXA certified members, the highest accreditation that is available. ~ Courtenay. Learn more:

07.01.2022 Its crystal clear that the government wants to encourage the construction of new homes and these extra incentives may prove a windfall for some.

06.01.2022 ...."Theyre not using ACCC approved contract documents either and if you want to use your own settlement agent, youre forced to pay extra. Thats just weird." Consumers are advised to beware.

06.01.2022 Congratulations to Cameron on his perseverance which has achieved an excellent outcome for our clients today. Well done, Cam. I knew the May the 4th ode was written about you.

06.01.2022 Support a Mortgage Broker!

05.01.2022 What to expect from a licensed Settlement Agent. If you are considering buying, selling, subdividing or transferring real estate you will need the services of a good Settlement Agent. Before entering into a contract take the time to collect at least three written quotes on the costs associated with your intended transaction, but do not necessarily accept the cheapest quote as the best deal. Ideally, you should appoint your Settlement Agent prior to entering into the buying or... selling contract. Sourcing a Settlement Agent is easy. Use the Western Australian Institute of Conveyancers website at www.aicwa.com.au to locate a professional, ethical Conveyancer by location or turn to Google. Ask friends and relatives who they would recommend. The person fielding your quotation call should ask you a number of questions relating to the transaction before determining a fair price based on the perceived work involved. Generally to complete a standard settlement for a Seller takes around 7+ hours and for a Buyer around 9+ hours. If no questions are asked about you or the transaction details you should feel uneasy. The Conveyancer should always offer you a written quotation. Your Conveyancers job is to look after your interest in the settlement process. At the end of the telephone call you should feel comfortable that the Conveyancer is offering you; a high standard of service, understands your needs, location convenience (where this is important) and that they are friendly and efficient. To make finding the the right Conveyancer for you even easier try using this checklist. 1. Did the Conveyancer ask questions about my sale/purchase/subdivision/family situation? 2. Did the Coveyancer provide me with a quotation of all costs and explain each aspect of the transaction as it relates to the cost? 3. Is the person, who will do my settlement a qualified person? 4. Does the agency have a policy that limits the number of transactions done per month to ensure my work will be properly attended to and my settlement is on time? (the surveyed industry standard is no more than 35 transactions per month per Conveyancer.) 5. Is the Conveyancer a member of the Institute and do they regularly attend professional development opportunities? 6. Does the agency have a policy to only act for either the buyer or the seller in a transaction to avoid conflict of interest? 7. Did the agency offer me a written quotation and further information to help me understand my transaction? 8. Will the agency assist me by reviewing my contract prior to me signing to lessen the likelihood of a badly drafted contract affecting my settlement? If you are only choosing a settlement service based only on price you may already have done yourself a disservice. You dont deserve to be just another number in someones bottom line.

05.01.2022 Strata law has been amended in Western Australia. This includes the required disclosures to Buyers of strata titled properties. The changes are aimed at allowing Buyers to make a better informed decision when purchasing strata titled property. ... Buyers are given more information so they can understand the clearer position of the strata company in respect to such matters as the expenditure, agreements and obligations they are entering in to when purchasing a strata titled property. https://www0.landgate.wa.gov.au//Precontractual-Disclosure Read more about it here: https://strata.wa.gov.au

05.01.2022 Check your pool gate latch ASAP especially if you use SafeTech or G8Safe brands, safety recall announced today by Royal Lifesaving

05.01.2022 Title insurance is an optional offering but recommended product, for our clients optimum protection that can be arranged with all customers purchase settlement. The cost is a one time payment for indefinite protection for insured events and is just part of the service. One premium, one policy, no excess. For more information on what benefits title insurance can offer, please enquire.

04.01.2022 Pre-settlement inspections what rights do Buyers have? By Hayden Groves REIWA President https://reiwa.com.au/... Purchasing a property is a substantial commitment that comes with myriad responsibilities for both buyers and sellers. The REIWA Information Service, which provides information to the Western Australian public about property, receives thousands of calls each year. One of the most common questions they are asked by buyers and sellers is what rights the buyer has in relation to pre-settlement inspections. Just prior to settlement occurring (usually within five business days of when you take formal possession of the home) the buyer is entitled to a pre-settlement inspection. The pre-settlement inspection allows the buyer to check the property thoroughly to ensure the seller has complied with the representations, warranties and special conditions. Standard conditions and obligations are listed in the Joint Form of General Conditions which forms part of the overall contract for sale. Often confusion arises at this stage due to one or both of the parties to the contract not understanding an important representation within the contract, which states the property will be in the same state and condition at settlement that it was in immediately prior to the contract date. Another condition is that the seller is obliged to remove all rubbish, vehicles and chattels from the property prior to the buyer taking possession (unless the property is subject to a lease agreement). The parties to the contract (the buyer/s and seller/s) may also add special conditions to the contract that are specific to that purchase. For example, they may agree the seller has to remove an old shed from the property prior to settlement. If, upon inspection, the buyer discovers that a warranty or representation has been breached, such as the pool water changing colour, then this does not normally give the buyer the right to delay settlement. Accordingly, settlement would normally proceed, however the buyer is entitled to seek damages from the seller for costs incurred rectifying the breach post settlement. On the other hand, if the buyer discovers a special condition (not merely a warranty) has not been completed, such as the seller hasnt removed the old shed, then they are usually entitled to delay settlement until the outstanding condition has been satisfied. Thankfully, in most cases, a resolution is reached in such circumstances, although on occasion the buyer is able to cancel settlement and the contract ends. Your real estate agent is an invaluable tool to help you navigate some of the parameters of a property sale. If you have questions about your rights, or those of the other party to the contract, speak to the REIWA agent managing the sale who will be able to assist you.

04.01.2022 There's been lots of questions this week regarding the conditions and qualification criteria of the new Grant's available - more info here.

04.01.2022 The State Government has announced it will provide transfer (stamp) duty rebates for off-the-plan Units and Apartments where the Contract has been signed on or after 23rd October 2019. More information is available at this link (including eligibility criteria); https://www.wa.gov.au//department-of-/the-plan-duty-rebate

04.01.2022 Where you are a Seller, we will provide you with a Preliminary Settlement Statement that will show the amounts you have agreed to pay in respect to the real estate agents selling fee and advertising costs (if applicable), settlement fees and other disbursements. The Settlement Statement will either apportion the current years rates or include an amount to be held in trust pending receipt of the relevant details. After settlement, we will provide you with a Final Settlement Statement setting out the full disbursement of the sale proceeds including any payments to your lender and including the apportionment of rates and the final water meter reading.

03.01.2022 Continually relevant so worth a re-share.

01.01.2022 Changes effective 22nd January 2018 Smoke alarm exemption for dwellings proposed for demolition As you may be aware, Western Australias Building Regulations 2012 require owners of residential dwellings to have compliant smoke alarms installed prior to the sale, transfer of ownership, rent or hire of the dwelling. ... Changes to the Regulations come into effect on 22 January 2018 to provide an exemption for Sellers who are transferring ownership to a Buyer who is intending to demolish the dwelling. This means that the current owner of a home that is subject to sale and progressing through settlement, may choose not to install smoke alarms if the Buyer has provided them with a Declaration of intended demolition before settlement. A Declaration of intended demolition is a Statutory Declaration made by the new owner (Buyer), declaring they intend to demolish the dwelling home within six months of the transfer/settlement day. Please contact Courtenay or Cameron if you need more information on this change of legislation or think that this situation may apply to you.