Essential Guide To Hiring A Settlement Agent In Perth
When it comes to real estate transactions, a settlement agent is of the utmost importance. He/she ensures there’s a hitch-free transfer from the seller to the buyer. The essence of a settlement agent is to ensure such real estate transactions are legally compliant.
And the Rezzi settlement agent in Perth is one of the ones with an upstanding reputation you can hire as he ensures both parties involved in the real estate transaction have a stress-free transaction process.
In this article, you’ll discover the questions to ask a settlement agent before hiring him/her.
What Are The Specific Roles Of Settlement Agents In Perth?
Settlement agents are quite important in real estate transactions and you need one if you’re looking to sell your property. Here are the specific functional roles they play in the real estate business.
Investigation On To-Be Sold Property
This involves the settlement agent checking out the property and its title, ensuring there are no legal complications that could hinder the sale. This is quite a thorough process as the settlement agent checks to ensure the property is ready to be sold.
The settlement agent is also known as an escrow officer given the fact that he/she also manages the funds involved in the real estate transaction. He makes sure the seller gets the agreed price from the buyer of the property.
Reviewing Required Legal Documents
The settlement agent is also concerned with reviewing documents regarding the sale of the property like mortgage agreements, transfer of land documents, and contract of sale.
Liaising With Necessary Third Parties
Settlement agents also stay in touch with a number of financial parties such as banks, real estate agents, and government agencies, to ensure the property sale happens on time. This way, both the buying party and selling party get what they want earlier.
Conflict resolution is also part of the settlement agent’s roles. Sometimes, buyers and sellers can disagree. And when this happens, the settlement agent intervenes and comes up with a viable solution that is in the interest of both parties involved.
Offering Advice & Guidance
The settlement agent is well-versed in Perth’s real estate market operation, the legalities binding property sale, and also the financial complexities involved in selling the property. Thus, he’s in the best position to offer you advice on how to sell your property.
Ensuring Legal Compliance
Settlement agents also ensure real estate transactional activities are done within the confines of legality, ensuring both parties are protected by law.
Important Questions To Ask A Settlement Agent Before Making A Hiring Decision
Before hiring a settlement agent, you must be sure of his/her experience, expertise, upstanding reputation and also how regularly he/she communicates. Here are essential questions that you must ask when looking to work with a settlement agent.
Questions On Experience & Expertise
- How many years of experience do you have as a settlement agent in Perth?
- Where do you specialize in handling Perth real estate transactional activities?
- Have you worked with clients that have a similar circumstance to mine?
Questions On Qualification
- Have you obtained a license from the Real Estate Institute of Western Australia (REIWA)?
- Are you a member of any professional body or association in the real estate industry?
Questions On Charges & Fees
- Can you share a breakdown of your settlement fees and charges?
- Are there any hidden fees and charges I should know about?
- Do you offer clients discounts for bundle services?
Questions On Recommendations & Reputation
- Can you give me the contact details of your previous clients that can vouch for you?
- Are there online reviews and testimonials from clients you’ve worked with?
- How known are you within the Perth real estate community?
Questions On Communication & Required Updates
- How available will you be to attend to my questions when I need you to?
- How do you prefer communicating with clients (email, phone, or physical meetings)?
- How quickly do you respond to unexpected problems that could occur in real estate transactions?
Asking such questions will help you know the best settlement agent to hire. If you noticed, these questions are quite direct and result-oriented. They reveal how professional and experienced settlement agents are. Plus, they also make it easy to find a good one to hire.
Be sure you hire one that you feel comfortable with. You won’t want to work with someone that makes you feel unsafe. Trust your instincts as well. Even if a specific settlement agent ticks all the professional boxes and you feel something’s off, do your due diligence to investigate.
Valuable Tips for Hiring An Experienced Settlement Agent In Perth
Begin Your Search Early
Searching for a settlement agent late in the real estate transaction process can really delay the property sale and create some problems for you. Thus, you must ensure you begin searching for one early.
Obtain Multiple Quotes From Different Settlement Agents
Getting multiple quotes from different settlement agents gives you the advantage of comparing their prices, experience and expertise. This can also help you make a better hiring decision.
Ask For References From Past Clients
To check out the past performances of the settlement agent, ask for references from his/her previous clients.
Don’t Ignore Your Instincts
You should also trust your instincts and go for a settlement agent that you feel comfortable with. If he/she ticks all the boxes and you feel there’s something off about him/her, you should go with what your gut tells you.
There are many settlement agents in Perth, but ensure you go for one with an upstanding reputation. You won’t want a quack or an inexperienced settlement agent to handle your settlement activities.
Be sure all the professional boxes are ticked and also be sure to ask about his/her licenses and certifications.