Buying & Selling

A special condition that can let a seller require a subject-to-sale buyer to make the contract unconditional within a stated period after another offer is received.

Properties publicly advertised as available for sale at a particular time under the publisher's counting rules.

The settlement calculation that divides prepaid or unpaid property costs between buyer and seller.

A written agreement authorising a WA real estate agent to act for a client and recording the services, fees and expenses agreed.

A sale in which the buyer agrees to take the property in its observed condition and the seller does not agree to ordinary repair or inspection conditions.

The proportion of reported auctions counted as sold under a publisher's methodology for a stated period.

A contract condition allowing a qualified inspection of the building within a set time.

A licensed real estate professional engaged to represent the buyer rather than the seller in a property search and negotiation.

An increase in a property's value or a market's price measure over time, usually expressed as a percentage.

Movable items that are not treated as part of the land or building, such as a freestanding appliance or pot plant.

Recent sales of sufficiently similar properties used as evidence when estimating a property's market value or offer range.

The WA Government service that provides property guidance and administers licensing and consumer-protection functions for real estate, settlement and rental industries.

The process of checking, preparing and lodging the documents needed to transfer property ownership.

A period in which a buyer can cancel a signed contract under stated rules.

A response that rejects an existing offer and proposes different terms, such as a new price, date or condition.

A measure of how long properties take to move from listing to an agreed sale point under a data provider's methodology.

A guarantee from a provider that can replace a cash contract deposit for an agreed period.

The online system commonly used by authorised professionals to exchange settlement funds and lodge property documents.

A WA sale campaign that calls for offers by a stated end date, usually as a form of tender-style marketing.

An agency agreement giving one agent exclusive selling rights for a stated period.

A sale process inviting prospective buyers to submit an offer or proposal, often by a stated closing date.

The buyer's last inspection before settlement to check the property is in the required condition.

A contract condition making the purchase dependent on the buyer obtaining finance on stated terms by a deadline.

Items fixed to and treated as part of the land or building, such as built-in robes, downlights or fitted carpets.

A scheduled period when prospective buyers or tenants can inspect a property, usually without arranging an individual appointment.

The standard general contract terms commonly attached to a WA Offer and Acceptance form.

A real estate agent's estimate of a property's likely market selling or rental range based on local knowledge and comparable evidence.

A fact significant enough to affect a reasonable person's decision about a property transaction or the terms they would accept.

The middle house sale price when recorded house transactions for a place and period are ordered from lowest to highest.

The midpoint of recorded property sale prices for a specified market, property type and time period.

The middle sale price for units or attached dwellings in a defined place and period.

The middle weekly rent in a set of recorded rental prices for a location, property type and period.

A private-sale situation in which a seller considers more than one buyer's written offer at or around the same time.

A property offered to selected buyers without a full public advertising campaign on the major listing portals.

The standard WA form used to make a written property offer that becomes a contract when accepted and communicated.

Listing language indicating the price level from which a seller wants buyers to consider making offers.

A selling arrangement allowing more than one agent to seek a buyer, generally without giving one agency exclusive selling rights.

An auction outcome where the bidding does not reach the reserve price and the property is not sold under the hammer.

An indicative price or range used to help buyers understand where a property may sit in the market.

A sale method in which the property is marketed and the seller negotiates offers with buyers rather than selling through an auction.

A public sale process in which buyers bid and the property can sell when the reserve price is reached and the highest bid is accepted.

The checks a buyer makes on a property's title, condition, approvals, costs, contracts and surrounding risks before becoming unconditionally committed.

Money paid after a property offer is accepted as security for the buyer's obligations under the contract.

The remuneration a property seller agrees to pay the selling agency, commonly as a fixed amount, percentage of sale price or combination.

Western Australia's peak real estate industry body and the operator of reiwa.com, a major source of WA listings, suburb data and market reports.

The confidential minimum price the seller has authorised the auctioneer to accept at auction.

The number of property transactions recorded for a specified location, property type and period.

The licensed real estate agent or representative engaged to market a property and negotiate for the seller.

A WA marketing method inviting written offers by a nominated date, often without publishing a fixed asking price.

The completion of the sale when funds are exchanged and the ownership transfer is lodged for registration.

A WA-licensed professional who manages the legal and administrative steps needed to transfer property ownership.

The contract date by which the property sale is due to complete.

A statement showing the money due at settlement, including the purchase balance, deposits, rates, taxes and other agreed adjustments.

An agency agreement appointing one real estate agent to sell the property while potentially preserving a seller's right to find a buyer privately, depending on the written terms.

A transaction-specific term added to a property contract to create an agreed right, obligation, test or deadline beyond the standard conditions.

A condition making the purchase dependent on the buyer selling another property by an agreed date.

An offer to buy without protective conditions, or a contract in which all conditions have already been satisfied or waived.

A listing status used when the seller has accepted an offer but one or more contract conditions still need to be satisfied.

The buyer's right to receive the property without occupants and with the seller's belongings removed, subject to the contract.

The person or entity selling the property under the sale contract.