Compare apples with apples when choosing a settlement agent

Flat Rate Settlements offers instant online quotes that are fair and transparent.

And if you happen to find a cheaper price, we’ll beat it by 5%. But not everyone plays fair.

Here are some tips for selecting a settlement agent:

  • Compare apples with apples. Ethical agents are clear about their fees and don’t confuse them with disbursements (out-of-pocket expenses) that you have to pay in any event.
  • Good settlement agencies advertise their fees upfront. Avoid those who pump you for information with a promise to “get back to you”?
  • The work involved in a settlement is the same irrespective of the property value.
  • If the first thing you’re asked for is the sale/purchase price of the property, you can bet the quote will be based on value of the transaction, not the cost pf delivering the settlement service.
  • Legitimate disbursements include title search fees, rates enquiries and bank charges. If you’re selling, your real estate agent will be entitled to a commission. If you’re buying, you’ll have to pay government stamp duty and transfer registration charges both calculated on sliding scales.
  • Check that quoted disbursements are only amounts that the agent is actually paying out and don’t include extra handling or service fees. Padding disbursements is illegal and entitles you to a refund.
  • Postage, telephone calls, photocopying and settlement attendance are not true disbursements and should be included in the settlement fee. Flat Rate Settlements does not charge extra for these items.
  • Check out the testimonials. Trusted settlement agents post feedback from satisfied customers on their websites. You may be surprised how few you find.

And if you find an agent offering a lower price after seeing our quote, please call Flat Rate Settlements before you accept it.

Contact Michael Hodgkins on +61 8 9220 4455

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