WA and Qld - verification of identity for Settlement Agent

[INVSTOR]

I'm a bit confused by what my settlement agent is wanting us to do by asking us to do a verification of identity to complete an upcoming sale in WA. They provide a Landgate link for more information that doesn't appear to exist. By Googling I came across other settlement agents offering the same non-existent link. I sold a property in November last year and my settlement agent (different to my current settlement agent) didn't request us to do this Settlement Identification. Only the selling agent did it. Is this process with settlement agent superseded?
I'm not sure how I managed to sell in WA late last year if this is compulsory? If If We are required to have a settlement verification for WA and are selling in Qld next month can we be ID'd by Australia Post for both sales if it's compulsory for both?
http://www.ljhookersettlements.com.au/files/New identity checks to reduce land title fraud.doc

 

[Perp]

There were a few very high-profile cases where property was sold fraudulently, and so it's now recommended that the identity of parties selling property is verified: https://www.commerce.wa.gov.au/sites/default/files/atoms/files/guidancenotescodeofconductsettlementsagents.pdf

 

[sanj]

If you sold late last year your ID should have been verified.

As perp said this is in response to some of the fraud that's occurred over the last few years

 

[INVSTOR]

If you sold late last year your ID should have been verified.

As perp said this is in response to some of the fraud that's occurred over the last few years

Thanks, I've found paperwork now and can see Settlement agent provided a form that we had JP sign with 100pt check which was free. My current settlement agent is giving us 3 options for Identification all with the same cost of $39/person adding another $78 to transaction. No mention in quote although I should have confirmed there was no extras before accepting quote.
Even if I get the settlement agent to verify it they will charge $78.

There were a few very high-profile cases where property was sold fraudulently, and so it's now recommended that the identity of parties selling property is verified: https://www.commerce.wa.gov.au/sites/default/files/atoms/files/guidancenotescodeofconductsettlementsagents.pdf

Thanks! Will get some Qld quotes and find out about their verification process in advance so I'm not doubling up on fees.

 

[Perp]

Charging you for identifying yourselves as an *extra*?

 

[westminster]

That's a bit of a rip off! Mine just had me come in and show passport, medicare and something else to get up to 100pts.

 

[INVSTOR]

Charging you for identifying yourselves as an *extra*?

That's a bit of a rip off! Mine just had me come in and show passport, medicare and something else to get up to 100pts.

Yep! Feeling ripped off! What a joke.

 

[RPI]

Verification of Identity is a new requirement coming in due to electronic conveyancing (PEXA) QLD starts this in 13 days. You can go to Australia Post and pay a $39 fee per person if your solicitor is registered with them. Different states also have other options, eg ZIP ID a mobile service that can come out and id you. You will have to do VOI every 2 years.

If you do VOI at your solicitors office then there may not be a charge.

I have had to go and pay this myself at Auspost.

 

[redwing]

We had to do the verification last financial year when selling an IP

There's a good write up in the link

As of the 2nd January 2013, the West Australian Land Titles Office have placed strict requirements on settlement agents, lawyers and mortgagees with the introduction of The Western Australian Registrar and Commissioner of Titles Joint Practice: Verification of Identity (VOI). VOI has been put in place with the intention of reducing and better managing the risk of fraud in Western Australian property transactions.

It sets out the minimum requirements for identifying a seller or seller?s agent (ie. someone acting under a Power of Attorney) when dealing with property transactions, or a buyer when lodging a mortgage over a property.

Previously we have been required to obtain a minimum of 100 point of ID for each seller ? but this is no longer the case. The standards have been raised and are now based on two requirements:

• Identity Document Production: production of original and valid identity documents from one of five pre-set categories, and
• Visual Verification of Identity: a visual ?face to face? comparison of the photograph on the identity documents to the client

.

 

[Perp]

Verification of Identity is a new requirement coming in due to electronic conveyancing (PEXA) QLD starts this in 13 days. You can go to Australia Post and pay a $39 fee per person if your solicitor is registered with them. Different states also have other options, eg ZIP ID a mobile service that can come out and id you. You will have to do VOI every 2 years.

If you do VOI at your solicitors office then there may not be a charge.

I have had to go and pay this myself at Auspost.

Thanks for explaining. If it's an externally validated thing that's reusable for other transactions, that makes more sense why there's a charge.

 

[perthguy]

another good resource here:

http://www.gadens.com/publications/...tity-(VOI)-rules-for-land-dealings-in-WA.aspx

I had to do this for my sale a couple of years ago and the settlement agent charged a fee. I can't remember how much. I will look it up and post.

In WA, Landgate even has a guide for self-represented parties. http://www0.landgate.wa.gov.au/docvault.nsf/web-new/PS_TR_SEPRESENTED/$FILE/HowtoguideforSelfRepresentedparties.pdf

 

[INVSTOR]

Verification of Identity is a new requirement coming in due to electronic conveyancing (PEXA) QLD starts this in 13 days. You can go to Australia Post and pay a $39 fee per person if your solicitor is registered with them. Different states also have other options, eg ZIP ID a mobile service that can come out and id you. You will have to do VOI every 2 years.

If you do VOI at your solicitors office then there may not be a charge.

I have had to go and pay this myself at Auspost.

Thanks. These two options are the other two options my WA settlement agent gave so I'll see if I can use one of these options to do Qld sale also.


No my greedy WA settlement agent is charging $78 for this service! Definitely not using them for it.

Add- they also state you need to be verified twice within 24 months before they exempt you from process for third transaction!

 

[RPI]

Australia Post VOI Form attached to show you what is needed.

 

[INVSTOR]

Australia Post VOI Form attached to show you what is needed.

Thanks. I was just reading your comments on finance thread. Seems like the easiest way!

 

[RPI]

No worries

For these early ones allow 20-30 mins at the post office. Chances are the staff member hasn't done one yet and will have to look up what they need to do, call someone on their helpline etc.

 

[Waldo]

No my greedy WA settlement agent is charging $78 for this service! Definitely not using them for it.

I would be walking away as you are. Charging an additional extra for every little job then do, even if its part of their core business.

Who do they think they are?!?! Property Managers?!?!

 

[perthguy]

No my greedy WA settlement agent is charging $78 for this service! Definitely not using them for it.

Add- they also state you need to be verified twice within 24 months before they exempt you from process for third transaction!

I just found my settlement statement 4th of April 2013:
Sellers Identification $29.00.
That was in Perth.

 

[INVSTOR]

I would be walking away as you are. Charging an additional extra for every little job then do, even if its part of their core business.

Who do they think they are?!?! Property Managers?!?!

Lol! Will stop celebrating that they were $100 and $120 cheaper than two other quotes.

I just found my settlement statement 4th of April 2013:
Sellers Identification $29.00.
That was in Perth.

Thanks. I think the post office option is best as it appears it would be handy for other purposes also rather than a one off transaction. It appears it will be more commonly used throughout Australia in the future.