When should I engage a settlement agent?

If you’re buying or selling property in Western Australia, one of the first questions that often comes up is: “When do I actually need to engage a settlement agent?” Many people assume you only need a settlement agent once the contract is signed, but in reality, your settlement agent can be one of the most valuable people to speak with before that point.

In this blog we’ll look at why the timing matters, and what a good settlement agent can help you pick up before it’s too late.

Why engaging a settlement agent early makes a difference

A settlement agent (also called a conveyancer) is responsible for managing the legal transfer of ownership, but their value goes far beyond paperwork.  By engaging a settlement agent early, you gain an expert who can:

• Review your contract before you sign

• Check attached documents for accuracy and currency

• Identify potential issues that could affect your finance, timelines, or property use

• Explain your obligations under the Offer and Acceptance (O&A) and Joint Form of General Conditions (JFGC)

Whether you’re buying your first home in Padbury, selling an investment in Hillarys, or upsizing locally around Kallaroo, involving your settlement agent early can save you stress, time, and sometimes thousands of dollars down the track.

For buyers: the pre-contract advantage

Buying a property can move quickly, and it’s easy to get swept up in the excitement. But before you sign on the dotted line, there’s a lot your settlement agent can check for you (including things that a busy real estate agent or mortgage broker might not pick up).

1. Checking what’s attached to the contract

When you’re handed an Offer and Acceptance form, it often comes with (sometimes MANY) attachments.  Things like title searches, strata plans, or other documents related to the property. These can contain critical details that affect your decision to buy.

Take this real example from a pre-contract review I did recently for a would-be buyer:

The contract included a strata plan from 2023. I suggested the buyer request a more current version before making his offer. When he did, we discovered that a new by-law had been registered in 2024 prohibiting pets within the complex. Since he owned a cat who would be moving with him, the property was no longer suitable, and he decided not to proceed.

Had he signed the offer without checking, it would’ve been a much harder situation to unwind later.

2. Reviewing contract terms and special conditions

Settlement agents can also flag potential red flags in the O&A, for example:

• Incorrect settlement dates or unrealistic finance timeframes

• Missing buyer details (like full legal names), which can impact the finance approval process

• Conditions that could delay or complicate the process

A quick pre-contract review can prevent simple administrative mistakes from turning into settlement delays.

3. Lodging your contract with RevenueWA

In WA, buyers are responsible for ensuring that signed contracts are lodged with RevenueWA within two months of acceptance.  If this doesn’t happen, late-lodgement penalties apply.

When you engage a settlement agent early, they’ll take care of this for you, ensuring the contract is lodged correctly and on time to avoid any costly penalty tax. 

4. Understanding the property’s encumbrances

It can be tricky to understand and interpret some of the legal paperwork, like the title search and any encumbrances, such as easements or restrictive covenants.  Your settlement agent will be able to explain what these mean and how they could potentially impact your ownership.  For example, some restrictions may limit how you can use the property or what you can build on it.  By having those explained to you before signing, you’ll be able to make an informed decision and ensure there are no surprises after your offer is accepted.

After your offer is accepted

Once your offer has been accepted, your settlement agent’s role really kicks in. From that point, they coordinate with the seller’s conveyancer, your bank or finance broker, and the real estate agent to make sure each condition of the contract is met, and you can progress smoothly to settlement.

Behind the scenes, your conveyancer will:

1. Monitor your contract conditions

Your settlement agent keeps track of key dates for:

• Finance approval

• Building and pest inspections

• Any special conditions (such as a sale of another property)

They’ll remind you of upcoming deadlines and request extensions if necessary, ensuring you remain compliant with the contract.

2. Liaise with your bank and finance broker

Once your finance is approved, your settlement agent works directly with your lender to prepare for settlement. As part of this process, they’ll confirm the funds available from your loan (and any balance due by you), ensure all the necessary mortgage documents have been signed, and schedule the settlement via the only platform, PEXA.

If you’re selling and have an existing mortgage, your conveyancer will also coordinate with your outgoing lender to ensure your mortgage is discharged, and the loan repaid at settlement..

3. Review and verify the property details

There are many searches and enquiries that your conveyancer makes as part of the settlement process.  For buyers, your settlement agent will:

• Order up-to-date title searches and government enquiries with the local council, Water Corporation, WA Planning Commission and more

• Verify ownership and encumbrances via Landgate

• Calculate rates and water adjustments, so that you only pay for your share of these from the settlement date onwards.

If you’re selling, they’ll cross-check all your details and the title details with the contract, ensure that the rates payments are up to date, and that any special conditions (like repairs) are satisfied before settlement.

4. The settlement day

On settlement day, your settlement agent carries out some final checks, including:

• Ensuring that all funds are correctly transferred (including triple-checking all of the account details)

• That the documents are correct and ready for the title to change hands through Landgate

Settlements in WA take place online now, and your settlement agent monitors the online workspace, so you don’t need to attend in person. You’ll simply get a call or email confirming that the property has settled.

For sellers: why earlier is better too

If you’re selling, engaging your settlement agent early has its own benefits.  They can:

• Review your draft contract to ensure details (like names and property descriptions) are correct

• Confirm any existing mortgages, easements or encumbrances

• Help prepare disclosure documents, especially for strata or leased properties

• Collaborate with your real estate agent on how to word contract clauses for a smooth process

The earlier you bring your conveyancer in, the lower the risk of last-minute contract errors that can delay settlement.

The peace of mind factor

Many buyers and sellers think of settlement agents as “the paperwork people”, but over the years, the role has evolved to be so much more than that.  These days, there are countless regulatory and compliance obligations that your conveyancer manages, serving as your safety net throughout the transaction.

A good conveyancer:

• Catches errors before they cause issues

• Keeps everyone accountable to deadlines

• Communicates clearly with all parties

• Protects your legal and financial interests throughout the process

Engaging one early gives you an advocate from day one, not just once the ink is dry.

FAQ: when to engage a settlement agent in WA

Do I need a settlement agent before I sign a contract?

It’s highly recommended. A pre-contract review can identify issues that could otherwise go unnoticed until after you’ve signed, when they’re much harder (and more expensive) to fix.

Can I choose my own settlement agent?

Absolutely. You’re not required to use the one recommended by your real estate agent. Choosing someone independent ensures they’re acting solely in your best interests.

I’ve already signed — is it too late to engage one?

Not at all. If your contract is already accepted, contact a settlement agent as soon as possible so they can take over correspondence with the other party and your lender.

How much does a settlement agent cost in WA?

Fees vary depending on whether you’re buying or selling and the complexity of the transaction, but expect somewhere between $900 to $1,800 depending on whether you’re the buyer or seller, and the complexity of your transaction (for a standard residential settlement).

Can my conveyancer help with contract wording?

Yes, they can suggest standard clauses or review your draft O&A before you sign to ensure your intentions (such as vacant possession or special conditions) are correctly reflected.

The bottom line: get advice early

When it comes to property, timing matters, and so does the advice you get (and when you get it).  Engaging a settlement agent early can help you avoid costly mistakes, missed deadlines, or legal complications. Your conveyancer will handle everything from checking documents before you sign to managing all the nitty-gritty detail once your offer is accepted.  Put simply? Your settlement agent is your behind-the-scenes partner in making sure your property transaction runs smoothly.

Buying or selling in WA and want confidence from the very start?

North Shore Conveyancing is based in Kallaroo and supports buyers and sellers across Hillarys, Joondalup, and beyond.  Contact Katelyn today to have your contract reviewed before you sign and ensure your settlement process starts on the right foot.