What is a settlement?
Settlement is the process by which a contract to buy and sell real estate is completed - the buyer becomes the registered proprietor of the property and the seller receives the money due to him from the sale. To learn more, consult our free Legal Guide to Buying and Selling Real Estate in WA.
Choosing your settlement representative
If you are buying or selling real estate, you will probably need a lawyer or settlement agent to attend to the settlement. Real estate agents are not licensed to carry out settlements and do not include this service as part of their commission.
Settlement agents generally charge fees based on the value of the transaction. The higher the property value, the more you pay. That's why it's hard to get a quote from a settlement agent without disclosing the sale price.
Flat rate settlements
At Birman & Ride we charge buyers and sellers of all types of property a flat rate fee that is not based on the price of your property. Our flat rate fee applies to contracts drafted substantially in accordance with REIWA's standard form Contract for Sale of Land or Strata Title by Offer and Acceptance (standard contract).
Flat rate settlement fee:^
Buyers - $990
Sellers - $660
Compare our flat rates with the Settlement Agents Act Scale
What our clients and our competitors say about our settlement services
^All charges include GST. Government, bank and strata company fees are not included. For full terms refer to our Product Disclosure Statement [PDF document].
Why our flat rates are so low
A flat rate makes sense because we provide the same (or similar) services for all standard contracts. Our charges are based on what we do, not the price of what you are buying or selling.
We use sophisticated management software and information technology tools to manage the settlement process efficiently and reduce the labour involved in each transaction.
Our flat rate fee covers the services typically required to complete settlement under a standard contract. In certain circumstances you may need additional services (extras) charged on either a fixed priced or timed basis. We will notify you in advance of any extras. For a complete list of extras read our Product Disclosure Statement [PDF document].
Non-standard contracts
Off-the-plan contracts
If you are buying a home that has not yet been built or unsubdivided land (ie off-the-plan) the contract is generally extensive and drafted in favour of the developer. We charge an upfront fee of $550 to analyse the contract. This fixed fee is additional to our flat rate settlement fee. We need to do this in order to have a full understanding of the terms and conditions (which vary from contract to contract) and to advise you of your rights and obligations where there are delays in completion or changes to the works.
Other non-standard contracts
Please contact us on 9220 4430 or email for a competitive quote.
Obtain your settlement statement right now
Our sophisticated online calculator will build (and print) a comprehensive preliminary settlement statement to help you manage your finances.
Services for property developers
We offer a full range of legal services associated with real estate development, subdivision, off-the-plan sales contracts, leasing and financing. We will negotiate discounts for bulk settlements. Contact Michael Hodgkins to discuss your needs and for an obligation-free quote or estimate.
Get legal advice before you sign
Signing a real estate contract may be the biggest financial commitment of your life. There's no cooling off period. If you are unsure about any aspect of the contract, it's wise to get legal advice before you sign. Find out where you stand at a short consultation ($99). If you would like us to analyse and advise you on an off-the-plan contract, we charge a fixed fee of $550.
Appoint us now
Use this online form to appoint us as your settlement representative today. We will contact your real estate agent.
OR
Tell your real estate agent and write Birman & Ride in the space provided at the end of the offer and acceptance contract form. The real estate agent will send us a copy of the contract and we'll contact you.
The Scale fees indicated are the maximum fees permitted under the Settlements Agents Act Scale.
Free information
We're independent
Many settlement agencies have financial links with real estate agencies. This means the settlement agent may be unable to act in your best interests as they will also be concerned to ensure the real estate agent receives their commission as soon as possible. Unlike many settlement agencies, we don't have financial links with real estate companies. We're committed to giving you objective advice - not just to getting the deal through regardless.
If something goes wrong...
Most settlements proceed smoothly. But if there's a problem it's good to know that your lawyers have the resources to advise you of your rights and tackle the difficulty on the spot.
It's easy
You don't need to come to our offices - we can handle everything by phone and mail.