Everything You Need to Know About Preparing a REIWA

In This Episode

In today’s episode of WA Property Q&A Podcast, we are joined by senior licensed conveyancer Franca Jankowski. Franca is not only experienced in the Australian market but has also gained experience in the US property conveyancing or escrow as it’s known there.

Franca has settled well over 5,000 property transactions in Western Australia so she seen the good, the bad and the ugly of conveyancing.

In this episode we discuss:

The importance of getting your name right on the contract
Why you MUST read your contract and seek the appropriate professional advice before proceeding
Understand the scope and limitations of seller warranties. They aren’t the escape clause many people think they are.
What to do if your name isn’t noted correctly on the contract
What you need to know about “No Cooling off Period” in WA property
And more…

Chapters

0:00:00 Introduction to WA Property Q&A

0:03:11 Pros and cons (hint: there aren’t many) of the Torrens title system

0:06:03 The significance of getting your name right on the contract

0:08:18 Handling name changes in property transactions

0:09:58 Importance of clarifying names

0:20:09 Title descriptions for transactions where titles are yet to issue

0:22:08 Importance of simple and clear finance clauses

0:26:40 Understanding the scope of structural inspections

0:29:51 Realistic expectations for property maintenance and inspections

0:33:58 The importance of clear contract conditions

0:36:27 No Cooling Off Period in WA, Conditions are Essential