You can write in the O&A the name of a settlement agent or lawyer you want to hire to make the settlement for you. You have the right to choose your own billing agent or lawyer, or you can make the payment yourself. Useful information on choosing a settlement office can be found in the Choosing a Consumer Protection Billing Office fact sheet. A copy is also available by calling 1300 304 054. For more information: Contact Landgate Title Searches and Survey Information on 9273-7333. This brochure contains general information on the purchase and sale of real estate by way of offer and acceptance. The majority of properties sold in Western Australia (WA) are made through an offer and acceptance process. A buyer makes an offer to purchase a property, usually with certain conditions (financial approval, building supervision, etc.), and the seller accepts it, rejects it or usually makes a counter-offer. In some cases, a seller may want to negotiate a special condition or price for an O&A submitted by a buyer.

Sellers can make a counter-offer to the buyer by changing the O&A. Any changes to the O&A must be initialled and dated and the document signed in full and dated. The counter-offer is then presented to the buyer. The Buyer may either accept or reject the Seller`s counter-offer or make other changes to the Counter-Offer. The O&A is only a legally binding contract when the buyer and seller have agreed to all the terms of the O&A. The following information can be used as a first point of reference for a number of these services. Please note that it cannot be used as a complete reference source. If you want to buy the property, carefully consider the terms of the offer you want to make. You or your agent can ask the seller or their agent for something about the property that might be of concern to you. When selling a property in Western Australia, there is no mandatory declaration from the seller. However, the broker must find or verify the relevant facts about the real estate transaction and communicate them immediately to the potential buyer.

This applies only to facts that a prudent officer knows or should know as a result of a reasonable investigation. The Ministry of Mines, Industry Regulation and Safety (DMIRS) produces a practical publication that explains in plain language the process of buying and selling a property through offer and acceptance. It explains things like: If you, as a seller, decide to accept an offer from a buyer, you will have to sign the F&A presented to you by the buyer or your agent. The signed O&A becomes a binding purchase contract (now called a contract) once acceptance has been notified to the buyer. A signed copy of the contract must be given to each party. Keep in mind that there is no cooling-off period for real estate contracts entered into in Western Australia, unless the parties agree to include one in the contract. Locate summarizes information about property boundaries, public transportation networks, the location of schools and health services, conveniently highlighted on a map where you can browse your area of interest. If you are a buyer and you want an agent to look after your interests, you may want to hire a buyer agent to act on your own. If you choose to do so, you must enter into a written contract with the agent in the same way that a seller enters into a written contract with his agent. The fact sheet Real Estate Expenses – Negotiations with an Agent provides more information on entering into a contract with an agent. A common form of special condition is the 48-hour clause used by sellers when a buyer makes the O&A dependent on the sale of another property.

Sellers include these clauses in the transactions and responses so that they can impose a period of 48 hours on the buyer to make their offer unconditionally in case the seller receives an offer (usually unconditionally) from another person (note: this is not a strict period of 48 hours, but the equivalent of two working days). If the first buyer cannot make his offer unconditionally, any contract signed between the first buyer and the seller will be cancelled and the seller is free to accept the unconditional offer of the other buyer. .