What is a residential settlement?
The commerce department of Western Australia define a residential settlement as:
Property settlement is the finalisation of a real estate transaction between a buyer and a seller.
Property settlement refers to the process of transferring a property from a seller to a buyer, when the conditions of the standard contract for the sale are fulfilled. In most instances before a property settlement can occur, both the buyer and the seller must have signed a contract of sale.
If you would like further information, they have a fact sheet outlining the process of property settlement and the general conditions that usually apply.
Prompt Settlements has an experienced team that can assist you in all areas of residential property settlements.
These include but are not limited to:
