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Home Buyers Survival Guide for Western Australia (WA) by the Government of Western Australia, Department of Commerce, Consumer Protection division.

Government of Western Australia Department of Commerce Consumer Protection  homebuyers Survival Guide for WA Department of...
I  contents  INTRODUCTION  1  PLANNING  OVERVIEW OF HOUSING OPTIONS    PAGE 2   www.commerce.wa.gov.au  5 5  3  43 44  BUY...
2 INTRODUCTION  3  4  THE HOME BUYERS SURVIVAL GUIDE FOR WA is produced by the Department of Commerce. The guide provides ...
THE CONSUMER PROTECTION WEBSITE MOST OF THE PUBLICATIONS REFERRED TO IN THIS GUIDE CAN BE FOUND ON THE CONSUMER PROTECTION...
1  P L A N N I N G  THINKING ABOUT THE BEST TYPE OF LIVING ARRANGEMENT FOR YOU, IT IS A GOOD IDEA TO WEIGH UP ALL OF YOUR ...
BOARDING AND LODGING If you are a boarder, you have permission to stay at another person   s property, for which you pay r...
RETIREMENT VILLAGES  OVER 55 COMPLEXES There are a number of options for the over 55 age group, who may not only be thinki...
BUYING AN ESTABLISHED PROPERTY A general overview of the pros and cons of buying an established property is provided below...
BUILDING A HOUSE A general overview of the pros and cons of building a house are provided below.  www.commerce.wa.gov.au  ...
WHAT  YOU NEED TO KNOW WHEN DECIDING TO BUILD OR BUY    SECTION 1     Making a decision to enter the real estate market is...
TABLE 1  WEEKLY BUDGET PLANNER  INCOME Income Types      Wages Salary     Pension Benefit     Other    per week  TOTAL INC...
A budget will help you MAKE SPENDING AND SAVING DECISIONS    SECTION 1     PLANNING  LOOK AT YOUR BUDGET The budget will r...
LIST OF FEES AND CHARGES  The cost of buying a home is much more than just the price of land and any dwelling. Similarly, ...
Planning tip  3  FIND OUT WHAT FEATURES YOU CAN AFFORD   SECTION 1     PLANNING  CONCESSIONS  RESEARCH  You may be eligibl...
CHOOSING AN EXPERT  Planning tip  5  USE EXPERTS  The process of buying or building involves finding out and using lots of...
Planning tip  6  UNDERSTAND HOW TO USE CONTRACTS  A contract is a legally binding agreement and may involve a number of pe...
Don   t sign a blank contract or allow details to be filled in later   SECTION 1         Make sure all things that are imp...
CONTRACTS AND PROPERTY OWNERSHIP  RELATIONSHIPS AND CONTRACTS   A PAINFUL MIX  If you are buying or building a house with ...
FINANCE ISSUES  FOR BUILDING OR BUYING  Whether building or buying, it is a good idea to start doing some homework to find...
REDRAW Some loans will allow you the flexibility to withdraw any extra payments that you have made towards the loan. You s...
Ways you can shop around for finance include      checking television, newspapers and the internet to find out whether len...
THINK CAREFULLY BEFORE SIGNING A CREDIT CONTRACT, as there is no requirement for a cooling-off period in WA   SECTION 1   ...
YOUR RIGHTS AFTER SIGNING A CREDIT CONTRACT THE CONSUMER CREDIT CODE PROVIDES SOME LEVEL OF PROTECTION IF SOMETHING UNEXPE...
  SECTION 1     PLANNING  case study  BUYING A HOME IS A LONG-TERM COMMITMENT     PAGE 24   www.commerce.wa.gov.au  Carol ...
B U Y I N G  A  2  H O M E  OF FREEHOLD LAND AND IS KNOWN AS  FEE SIMPLE  OWNERSHIP. ALTHOUGH THE CROWN IS THE ABSOLUTE OW...
  SECTION 2  OPTIONS FOR BUYING AN ESTABLISHED  PROPERTY     BUYING A HOME  TYPES OF FEE SIMPLE LAND GREEN TITLE Green tit...
FOR MORE INFORMATION  ABOUT STRATA SCHEMES      to view A Guide to Strata Titles go to www.landgate.wa.gov.au  or     cont...
TYPES OF SALES    SECTION 2     Property can be bought either by private sale or at auction. An auction is a publicly held...
IF YOUR BID AT AUCTION IS SUCCESSFUL, you will be required to sign an auction contract   SECTION 2     BUYING A HOME  AUCT...
THINGS  YOU NEED TO KNOW ABOUT BUYING A PROPERTY    SECTION 2     Home-buying tip  1   This section contains  BUYING A HOM...
FOR MORE INFORMATION ABOUT KEYSTART      call 1300 361 517  or     visit their Keystart website  www.keystart.com.au Assis...
TABLE 2   THE PHYSICAL ELEMENTS OF THE PROPERTY  CHECKLIST  PROPERTY DETAILS  Property 2  Property 3  Property 4  Property...
TABLE 2   THE PHYSICAL ELEMENTS OF THE PROPERTY  CHECKLIST  CHECKLIST  MODIFY, AS REQUIRED   Property 1  Property 2  Prope...
MAKING ENQUIRIES    SECTION 2  Home-buying tip  3      CHECK THE THINGS YOU CAN   T SEE  BUYING A HOME  EMPLOYING EXPERTS ...
  SECTION 2  Home-buying tip  4   OBTAIN A COPY OF THE TITLE from Landgate  for a fee , or from the real estate agent  CHE...
THE ROLE OF A REAL ESTATE AGENT     Home-buying tip  5   SECTION 2  THE ROLE OF A REAL ESTATE AGENT     BUYING A HOME  Whe...
GETTING INFORMATION ABOUT A PROPERTY     The seller is not currently required to supply information about a property direc...
CONVEYANCING is the legwork to make sure the promises in the contract are carried out   SECTION 2     BUYING A HOME  ROLE ...
THE  CONTRACT FOR BUYING REAL ESTATE  THE OFFER AND ACCEPTANCE CONTRACT    SECTION 2     BUYING A HOME  The standard contr...
SECTION 2     BUYING A HOME  For more information about searching for a loan, turn to pages 19   24 of this Guide. SETTLEM...
THE GENERAL CONDITIONS The General Conditions booklet outlines terms that are common to most property transactions. It is ...
BEFORE    SECTION 2  Before the legal title in the property is transferred from the seller to you, it is important to cond...
B U I L D I N G  A  3  HOU SE  HOW MUCH INVOLVEMENT YOU HAVE IN THE PROJECT, BASED ON YOUR EXPERIENCE AND EXPERTISE. IN TH...
WHAT   S  INVOLVED IN BUILDING A HOUSE     SECTION 3  DESIGNING     BUILDING A HOUSE  Building a house can be broken down ...
  SECTION 3     If you have an idea for a house design, you can employ a building designer, architect or builder  who offe...
CHECKLIST FOR BUYING  OFF-THE-PLAN  When considering buying  off-the-plan , you are advised to do the following.       CHE...
THE TITLE     BUILDING A HOUSE  ABOUT CERTIFICATES OF TITLE      contact Landgate   s Tenure Information Services by      ...
THINK CAREFULLY BEFORE SIGNING A CONTRACT FOR LAND, as there is no requirement for a cooling off period in WA   SECTION 3 ...
CHOOSING A  BUILDER  THERE ARE BROADLY TWO DIFFERENT TYPES OF BUILDERS TO CHOOSE FROM, NAMELY  PROJECT BUILDERS  AND CONTR...
CHECKING OUT THE BUILDER THE FOLLOWING ARE THE TYPES OF QUESTIONS TO ASK WHEN CONSIDERING A PARTICULAR BUILDER.  1. Is the...
case study  After getting a number of quotes to build a home in Yanchep, Kathy and Chen signed a Preparation of plans agre...
THINK CAREFULLY BEFORE SIGNING A BUILDING CONTRACT, as there is no requirement for a cooling off period in WA   SECTION 3 ...
www.commerce.wa.gov.au   PAGE 53    case study  BUILDING A HOUSE  Drawings   Specifications The drawings are the visual in...
BUILDING CONTRACT ISSUES    SECTION 3     BUILDING A HOUSE  It is recommended that the building contract includes all your...
BEWARE  Making changes after the building contract has been signed is generally costly  case study  ABOUT THE FIRST HOME O...
STAGES OF CONSTRUCTION Below is a simplified overview of the stages of construction to give you a general idea about what ...
HANDOVER Usually about five days after the date of practical completion, you should be ready to collect the keys to your h...
OWNER-BUILDING WHAT IS AN OWNERBUILDER     SECTION 3     BUILDING A HOUSE  If you are not a registered builder and decide ...
CHOOSING TRADESPEOPLE  SECTION 3     BUILDING A HOUSE  ELECTRICIANS AND GAS FITTERS In Western Australia, electrical work ...
THE BENEFITS OF USING A    SECTION 3     BUILDING A HOUSE  ENTERING INTO CONTRACTS Trades entering into contracts with own...
ALTERNATIVE HOUSES TO CONSIDER WHEN BUILDING  SPECULATIVE BUILT HOMES One form of  established  house, which is usually fr...
  SECTION 3     Damien mentioned to his family and friends that he was thinking about building a house as an owner-builder...
S P E C I A L  4  F E AT U R E S  PROSPECTIVE HOMEBUYERS WITH PRODUCT INFORMATION TO MAKE HOME LIVING SAFER.  www.commerce...
HOUSING  CHOICES FOR OVER 55s BEFORE YOU THINK ABOUT YOUR HOUSING OPTIONS, YOU MAY CONSIDER THE FOLLOWING CHECKLIST     SE...
Research tip  1   www.commerce.wa.gov.au   PAGE 65    SPECIAL FEATURES  Some of the purposes of the abovementioned laws ar...
Don   t assume the village you   re thinking about entering is automatically covered by the laws, even if the words  retir...
Research tip  4     MAKE SURE YOU RECEIVE REQUIRED INFORMATION  SECTION 4     SPECIAL FEATURES  INFORMATION YOU ARE REQUIR...
THE RESIDENCE CONTRACT    SECTION 4  Research tip  6  CONSIDER ALL FEES AND CHARGES     SPECIAL FEATURES  THE LAW AND FEES...
BEWARE... make sure the cooling-off period applies  LIFESTYLE COMMUNITIES    SECTION 4  Lifestyle communities generally of...
CARAVAN AND PARK HOME LIVING  SECTION 4     SPECIAL FEATURES  Myra and Earl were enjoying their retirement, but getting ar...
SAFETY  IN THE HOME  WHEN BUYING OR BUILDING, IT IS A GOOD IDEA TO CONSIDER SIMPLE, YET POTENTIALLY LIFE SAVING FEATURES T...
  SECTION 4     SPECIAL FEATURES  THE FENCING LAWS GENERALLY INVOLVE RESTRICTING ACCESS TO SWIMMING POOLS from either outs...
The Fire and Emergency Services Authority of Western Australia  FESA  notes that in a fire, toxic smoke, rather than heat ...
SAFETY CHECKLIST Consider the following additional safety products. For relevant purchases, check that the products meet A...
LIST OF CONTACTS B U YIN G OR B UILDIN G BORROWING MONEY OR PAYING OFF A PROPERTY  INDUSTRY ASSOCIATIONS - BUYING A PROPER...
Consumer Protection     contact us For further advice or information about buying or building call the Consumer Protection...