Most properties in Western Australia are sold using an offer and acceptance process. Usually an offer to buy property is made using the Contract for Sale of Land by Offer and Acceptance form, commonly called the ‘O&A’. The offer can be withdrawn at any time prior to communication of acceptance but once accepted by all parties, it is legally binding. Offers can be made conditional by stipulating so on the O&A form.
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What is an Offer and Acceptance Contract?
What is a land title?
A land title, or Certificate of Title, is a legal document that is issued by the relevant state’s official government department for land ownership (in Western Australia, the official authority is Landgate.) The title document shows a legal description of a piece of land and names the owner. When you buy a property, the title must officially transfer from one owner to another. This transfer will happen at settlement.
What is settlement and when does this occur?
Once the Certificate of Title has issued for your new homesite and your finance has been approved (if applicable), the purchase can proceed.
Settlement will take place within 14 days of unconditional finance approval (if applicable) or the issue of Certificate of Title, whichever is the latter.
What is a settlement agent?
A person licensed as a settlement agent under the Settlement Agents Act is authorised to prepare the necessary paperwork to change the name on the title deeds of the property you are buying from the Seller’s name into your name. A Settlement Agent will also organise the adjustment of shire and water rates and co-ordinate the settlement with the various parties on your behalf.
Are there any Government grants for first home buyers?
Investing in property is an important commitment and financial responsibility.
Governments have a range of grants and initiatives in place to specifically assist Australians to achieve their dream of home ownership, especially those who are first home buyers.
For more information regarding home owner grants in Western Australia that may be applicable to you, visit www.finance.wa.gov.au.
Local Development Plan (LDP)
Previously referred to as a Detailed Area Plan (DAP), a Local Development Plan (LDP) is a mechanism used to coordinate and assist in achieving better built form outcomes by linking lot design to future development. It can facilitate the design and coordination of development upon small lots, and supplement development standards contained within local planning schemes and the Residential Design Codes (R-Codes).
What is zoning and what does this mean at Mataro Private Estate?
Zoning is a town planning term that categorises what a particular parcel of land can be used for. At Mataro Private Estate, the land holding is zoned for urban development and the blocks are zoned R30 which means that the minimum and average site area per dwelling is 260 sqm and 300 sqm respectively.
Do I receive boundary fencing and landscaping with my block purchase?
Please see your Project Sales Manager for further information regarding side and rear boundary fencing and the front landscaping package on offer at Mataro Private Estate. Terms and Conditions apply.