Frequently Asked Questions
We know there are many questions that crop up when it comes to property transactions. The most often asked questions are below, hopefully you’ll find the answers here, but if not, we are only a call or email away!
What is a Settlement Agent?
A Settlement Agent is a person who is specifically trained in the legal processes of transferring property. They are an invaluable source of information and help for clients navigating their way through the property transaction process.
What does a Settlement Agent do?
Settlement Agents handle to legal transfer of property during the transaction. They prepare the required documents, deal with all of the intrested parties as well as deal with the financial aspect of the transaction.
Do I need a Settlement Agent?
In short, if you are buying, selling or transferring property, then yes, you will need a Settlement Agent to assist you with the proceses.
How much does a Settlement Agent cost?
Costs vary from agency to agency. Bouvard Settlements remain committed to providing an “above and beyond” client experience at a price point in line with our industry experience and requirements. The best idea is to simply call or email us for a quote.
What are the new Anti-Money Laundering (AML) laws about and why do I have to partake in these checks?
As of 1 July 2026, it is now federal legislation that all persons buying, selling or transferring property within Australia, undergo the Anti-money Laundering checks.
These checks are a simple series of questions answered honestly by you and are not designed to be overly personal in nature.
They pertain to the transaction you are in the process of undertaking and help to keep you the client/s, us your Settlement Agent and the real estate industry as a whole, safe from money laundering through property transactions.
Why do I have to prove my identity and how do I complete a Verification of Identity (VOI)?
It is important that the identity of clients is verified so we know we are dealing with the correct buyers and sellers and that no one is trying to “pull a swiftie”.
We understand it can seem intrusive to have to prove your identity through electronic means, and it can be scary to upload documents to the internet.
To co-incide with the AML laws, the VOI process is done at the same time with both processes being done electronically through an encrypted program. Bouvard Settlements uses LiveSign for this purpose. LiveSign is a fully approved encryption based electronic verification system used by many government bodies.
This process asks you to take photos of your documents on your device then you will be asked to take a “selfie” and the program will then perform biometric analysis of your face against your identity documents and will verify your documents and details are correct against the governmant databases. This process is fast and secure.