Vendor - the person selling the property.

Real Estate Agent - employed by the vendor to sell the property, charging between 3-4% of the sale price for the service.

Settlement Agent - employed by the Vendor and Purchaser to complete the sale and conform to all of the legal requirements. Cost varies depending on the purchase price. No settlement agent should act for the purchaser as well as the vendor.

Termite Inspector - any property that you buy should be inspected for termites, at a cost to the purchaser. The cost is between $70 - $100. If termite activity is found, the vendor is liable for the eradication of the infestation, at a cost to themselves.

Bank - if you are a migrant you have to prove that you can afford to repay a mortgage. The bank will require 2 x payslips or letter from your employer. If you are self employed you must have at least 2 years accounts.

Visa Variations

If you hold a retirement or business visa you can purchase property subject to foreign investment review board approval www.firb.gov.au

Other Costs

Budget for around 3% of the purchase price to cover Stamp Duty and settlement costs.

Placing an offer

The offer is “written up” on a contract by your real estate agent and once the vendor accepts your offer, that contract is legally binding.

Having expert advice is advisable as you may need to specify certain things that become “subject to..”

For instance, there might be some issues with the swimming pool or air conditioner that need to be addressed and fixed at the vendors’ expense. In which case, your offer would be “subject to” those repairs being carried out.

Providing all is well, it is possible to settle on a property within 14 days

Deposit is required and forms part of the contract. Most agents will try and get up to 10% deposit from you. DON’T LET THEM! A $500 deposit is good enough in most cases.

The deposit is held in the trust account of the real estate agent and is deducted from the final purchase price. This deposit is taken normally 5-7 days after the offer has been accepted and can paid by either cheque or cash.

Building Surveys are not carried out by banks. However, for peace of mind you might like to instruct your own surveyor to inspect the property for you. This will cost you around $250

Building Insurance is required by all mortgage lenders and contents insurance is highly recommended.

Completion Date will be agreed on the original offer.

Some things to be aware of when inspecting property

Electricity in Australia is generally not 3 phase, this can cause some problems with some electrical appliances. Power surges are more common than in the UK. Not all houses have trip switches - many have the old porcelain fuse wire holders which can be awkward to replace in the dark. The fitting of all electrical wiring & fuse systems has to be carried out by a registered electrician, no DIY is allowed legally.

Water systems differ depending on location. Some older properties are still on septic tank as the sewer is not connected. The majority of properties have their sewerage and mains water supply connected. The supply is monitored by a water meter and billed by the kilolitre.

Many properties have a reticulation system which is a pipe network running throughout the garden areas to allow the automated watering of gardens. Some properties have mains reticulation, others have a “bore”

The use of garden water reticulation (retic as it is known in Australia) is limited during summer months.

The heating of water is done by an outside gas water heater

Gas appliances are not found in every property. Often, the oven is electric and the cooktop may be gas. No gas central heating systems are used as the climate does not require it. The fitting of all gas appliances has to be carried out by a registered gas fitter no DIY. It never gets frosty in WA but you do need some form of warmth from July to September.

Telephone system is usually already installed using a different system. UK telephones & fax machines will not work.

Cable/Foxtel(Sky) systems are widespread throughout Perth and can be fed to the property using underground cable or a satellite dish.

Air conditioning systems come in various styles, be sure to check what type of system is in the property.

Reverse Cycle keeps you cool in the summer and will generate heat in the winter. These systems allow hot or cold air to be blown into the house or room.

Evaporative system is a large unit generally on the roof, distributing cool air through a ducted pipe system to all or some of the house via ceiling vents. This system does not generate any heat and is usually covered over in the winter. The evaporative type does not work too well in high humidity.

Refridgerative can be a small unit on a side wall distributing only cool air.

Swimming Pools

Pool fences or similar boundary measures are a legal requirement in all houses sold in WA that have pools.

The new purchaser has to comply with planning rules within 3 months of the moving in date and an inspection will take place by the shire to ensure the correct measures are taken. These measures are to ensure that no-one from public areas can access the pool or small children can gain access from the windows or doors of the house.

Liner pools are a very common type of pool as they can be replaced every 15 years or whenever they start to wear. The pool is made of a concrete construction with a vinyl liner on the inside. These pools tend to hold the heat & chemicals efficiently reducing running costs. Check that the top edge of the liner near the water line is not worn, as this will be due to sun damage causing ripping. If the water level is very high be sure to get on your hands & knees to inspect the areas in direct sunlight.

Fibreglass moulded pools are of solid construction and placed in the ground by crane and then paved around. These pools are also warm as heat retention is good, however the chemical retention is not as efficient as a liner pool. Fibreglass pools can become discoloured.

Concrete pools with painted walls can contract blackspot, which is a discolouring of the pool wall. This is due to damp coming through the concrete and is difficult to rectify. These pools are not as warm as other pools and do cost more to run.

Pool pumps, chlorinators & skimmer boxes need to be checked by an expert if you are unsure. However if you can see the water is flowing in & out of the pool with no unusual noises and the motor does not sound loud, then you can assume that the pool has been in use.

Pool water quality is very important and it must be checked for its chemical balance at a pool shop before you start swimming, as it can be a health risk. Some skimmer boxes are now illegal and are not allowed to be fitted to new pools, existing pools fitted with these boxes can be adapted to comply with safety requirements but this is not law.

The REIWA (Real Estate Institute of Western Australia) www.reiwa.com.au website is a good source of information for house hunting, however the site is not always up to date. The Sunday Times, The West Australian and The Homebuyer Newspapers advertise the current available property.