Aiming to remove confusion from settlement process

Aiming to remove confusion from settlement process

It is important the details in the contract are correct and buyers and sellers understand their obligations, but this can be difficult for people who speak English as a second language.

Perth is becoming a more cosmopolitan community; in the most recent Census data, 40.8 per cent of the city’s population was born outside Australia – a higher proportion than in Sydney or Melbourne.

Perth’s Chinese-born population, in particular, increased 210 per cent in the decade to the Census collection, while across Australia the average capital city increase was 123 per cent.

Reflecting the established and emerging foreign markets in Perth, and rising international interest in Perth property, LJ Hooker Settlements now offers step-by-step explanations of WA’s transaction process in six foreign languages: Cantonese, Mandarin, Malay, Indonesian, Italian and Korean.

Director Janet Hryb said they recognised that buyers and sellers came from a range of different origins and the explanation of the flow of the contract was imperative for clients to understand the process and feel comfortable when buying and selling.

“When purchasing a property, being able to understand how a transaction transpires in their first language adds a lot of confidence and peace of mind for international buyers and temporary residents,” she said.

“We (also) have an increasingly multicultural community where many people speak a language other than English at home and our transaction flowcharts enable them to sell with confidence.”

LJ Hooker Claremont is already using the settlement flow-charts.

Principal Vivien Yap said many of their overseas clients, both buyers and sellers, now had a clearer understanding of the sale process.

She said she expected to see international purchasing increase further in Perth.

“Bricks and mortar is regarded as a very solid investment option, and Australia has very low sovereign risk on a global scale,” she said. n