If you are buying a home or an investment property in Perth or Western Australia for the first time and you are not appointing a property buyers agent, you should be aware of the following:
- The Western Australian selling agent acts as a dual agent and represents both parties to the Contract.
- The selling agent does not have to disclose this conflict of interest to the buyer prior to or during the negotiations.
- The signed Contract prepared by the selling agent, who is paid by the seller, is legally binding once it reaches the settlement agents.
- There is no cooling off period in Western Australia.
- Once the Contract has reached the settlement agent it is a done deal and thereafter it is very difficult for the buyer to change the terms and conditions.
Buying in Perth or Western Australia for the first time
If you are considering appointing an independent buyers agent to negotiate and write the Contract on your behalf