The Settlement Process in WA: A Step-by-Step Guide for Sellers

In Western Australia, settlement is the final step of a sale, when the buyer pays the balance of the price, ownership transfers through Landgate and the keys are released. Between the accepted offer and settlement, buyer conditions such as finance and inspections must be met, and the seller’s settlement agent or lawyer prepares the transfer, discharges the mortgage and adjusts rates and other outgoings. Most WA sales use the standard REIWA offer and acceptance contract.

What happens after an offer is accepted?

Once both parties sign the offer and acceptance, it becomes a binding contract subject to its conditions. The buyer usually pays a deposit into the agent’s trust account. The settlement date and any special conditions are set out in the contract, so read them carefully before you sign.

What conditions can a buyer include?

Common conditions are finance approval within a set period, a building inspection, a timber pest inspection and, sometimes, the sale of the buyer’s own home. Each has a deadline. Inspection results can lead to repair requests or price renegotiation, which is where an experienced agent earns their fee. See our guide to subject-to-finance clauses for how finance conditions work.

What does a settlement agent do for a seller?

Your settlement agent or lawyer checks the title, prepares the transfer documents, arranges discharge of your mortgage with your lender, calculates adjustments for rates, water and strata levies, and coordinates with the buyer’s settlement agent and banks. Settlement agent fees are deregulated, but you must receive a written maximum service amount before signing their appointment (Consumer Protection WA). Our guide to settlement agent fees explains what to compare.

Do Australian sellers need an ATO clearance certificate?

Yes, in practice. From 1 January 2025, foreign resident capital gains withholding applies at 15% to the value of all property sales, with no minimum price (ATO). If an Australian-resident seller does not give the buyer an ATO clearance certificate by settlement, the buyer must withhold up to 15% of the price and pay it to the ATO (ATO). Apply online early; your settlement agent will ask for it.

Do you need smoke alarms and RCDs before selling in WA?

Yes. WA law requires compliant mains-powered smoke alarms to be installed before ownership of a home is transferred (WA Building and Energy), and WA electrical regulations require at least two residual current devices (RCDs) protecting the power and lighting circuits. Ask a licensed electrician to check both early, so the work is not left until settlement week.

What happens at the pre-settlement inspection?

The buyer usually inspects the property shortly before settlement to check it is in the agreed condition and that included items are still there. Leave the home clean, with all chattels in the contract, keys and remotes ready. Our pre-settlement inspection checklist shows what buyers look for.

What happens on settlement day?

The settlement agents and banks complete the exchange, usually electronically. Funds pass to your lender and to you, the transfer is lodged with Landgate, and once settlement is confirmed your agent releases the keys to the buyer. You then receive a settlement statement showing the price, mortgage payout, adjustments and fees.

How long does settlement take in WA?

It is whatever the contract says, agreed between buyer and seller. Allow enough time for finance approval and inspections; a date that is too short can put the contract at risk.

What can delay settlement?

• finance approval taking longer than the contract allows
• a missing clearance certificate or mortgage discharge
• unresolved inspection or repair requests
• compliance work not completed on time

Most delays are avoidable with early paperwork and clear communication. Request a free appraisal to plan your sale from day one.

Frequently asked questions

Who chooses the settlement agent in WA?

Each party appoints their own licensed settlement agent or lawyer.

Do sellers need a clearance certificate?

Australian-resident sellers should provide an ATO clearance certificate by settlement, or the buyer must withhold up to 15% of the price.

When do I get the money from my sale?

On settlement day, after your mortgage is paid out and adjustments and fees are deducted.

Can a buyer pull out after signing?

Only on the terms of the contract, for example if a condition such as finance approval is not met.