Your Questions Answered
The Settlement Process
Most residential settlements in Western Australia take between 30 and 60 days from the date the contract becomes unconditional. The exact timeframe depends on the settlement date negotiated in your contract and any special conditions that need to be satisfied.
In Western Australia, the licensed professional who manages property settlements is known as a Settlement Agent. In states such as New South Wales and Victoria, the equivalent role is commonly referred to as a Conveyancer. While the names differ, the role is much the same—managing the legal and administrative process of transferring property ownership. Platinum Settlement Services is a licensed Settlement Agency operating under the Settlement Agents Act 1981 (WA).
In many cases, yes. Settlement dates can often be changed if both the buyer and seller agree, usually by signing a simple variation to the contract. If you believe your settlement date may need to change, let us know as early as possible. Early communication gives us the best opportunity to negotiate with the other party and minimise any disruption.
Occasionally, circumstances outside anyone's control—such as delays with finance approval or loan documentation—can affect settlement. If this happens, we'll keep you informed throughout the process, work closely with all parties involved and do everything possible to achieve settlement as quickly and smoothly as possible.
Yes. Buyers will usually arrange a final inspection through their real estate agent shortly before settlement. This allows you to confirm the property is in the agreed condition before ownership transfers.
We assist clients purchasing throughout the Perth metropolitan area and across regional Western Australia. Because settlements are now largely completed electronically, we're able to assist clients regardless of where they're located. If you're unsure whether we can help, simply get in touch—we're always happy to discuss your circumstances.
Costs & Payments
Every property transaction is different, so settlement fees vary depending on the type of transaction, its value and its complexity. We provide a free, no-obligation quote tailored to your circumstances, so you'll know exactly what's included before making a decision.
We'll provide you with a detailed settlement statement before settlement, showing the exact amount required and when payment is due. For your security, we'll also explain our payment verification process before any funds are transferred.
Protecting your funds is one of our highest priorities. All client funds are held in a regulated trust account, which is independently audited each year in accordance with the Settlement Agents Act 1981 (WA). For more information about protecting yourself from cyber fraud and verifying payment details, please visit our Payment Security Centre.
Client Identity Verification and AML/CTF
We'll advise exactly what documents are required for your transaction. In most cases, this includes current government-issued photo identification together with any additional documentation needed to verify your identity.
Australian legislation requires settlement agents to verify the identity of everyone involved in a property transaction. Identity verification helps protect property owners against fraud, identity theft and unauthorised dealings while maintaining the integrity and security of Australia's property system.
AML/CTF stands for Anti-Money Laundering and Counter-Terrorism Financing. These laws are
designed to help stop criminals from using businesses and property transactions to hide or move money connected with illegal activity.
The new AML/CTF laws introduced from 1 July 2026 require all settlement agents to verify the identity of every client and understand where settlement funds are coming from. This applies to every settlement agent in Australia — it's a legal requirement, not a reflection of any concern about you or your transaction. We've made the process as simple and quick as possible, and we're happy to walk you through it.
Most clients will only need three things:
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photo ID (driver's licence and passport)
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proof of current address (a utility bill or bank statement)
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evidence of where your funds are coming from (such as a loan approval or savings statements)
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Only if documents arrive late. We ask for everything upfront , well ahead of your settlement date, so there's plenty of time. Respond promptly when we reach out and your settlement will stay on track. We can't proceed until checks are complete, so the earlier you provide your documents the better.
Specific Situations
SMSF property transactions involve specialised legal structures, including custodian trustees and bare trusts, together with lender-specific requirements regarding how purchasers are named on contracts and settlement documents. We have experience managing these transactions and understand the additional requirements needed to ensure settlement proceeds smoothly.
Absolutely. Coordinating a simultaneous sale and purchase is one of the most common—and often most stressful—situations we assist with. We'll carefully coordinate both settlements, working with lenders, real estate agents and the other settlement representatives to align settlement dates wherever possible. Our goal is to make your transition as seamless as possible and minimise the need for temporary accommodation or bridging finance.
Still Have Questions?
Every property transaction is unique, and we're always happy to provide personalised advice. If you can't find the answer you're looking for, please contact Platinum Settlement Services. We'll take the time to answer your questions and guide you through the settlement process with confidence.