Reverse mortgage warning | Shed Connect

Posted on September 4, 2018 by | 1 Comment
ASIC deputy chair Peter Kell says: “Reverse mortgage products can help many Australians achieve a better quality of life in retirement. But our review shows that lenders and brokers need to make inquiries that would lead to a genuine conversation with customers about their possible future needs, not just a set of tick boxes on a form.” Borrowers have been cautioned that are not getting enough help from lenders or advisers in working out the...

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Melbourne man facing expensive dilemma after buying home with illegal structures – ABC News (Australian Broadcasting Corporation)

Posted on September 4, 2018 by | 0 Comments
Hao Dong was dazzled, and when the time came for the house to be auctioned in March 2016, he placed the winning bid. He purchased the property in the hope that it could one day house his parents. But a few weeks ago the illusion of a good investment was shattered when the council, having received a complaint the property was being used as an unregistered rooming house, revealed most of the structures on the...

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Alpha-male Estate Agents in Altercation – What Chance Does the Client Have?

Posted on July 12, 2018 by | 0 Comments
The two estate agents in this story know their industry, know how things done, and apparently don’t like it when someone steps out of line. I regularly receive complaints from clients who tell me that they have been bullied or otherwise harassed by estate agents for asking too many questions, wanting to remove onerous special conditions from a contract or even adding a “subject to finance” clause to a contract. But if you really want...

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Should house hunters be told someone was murdered in the home they’re about to buy?

Posted on July 11, 2018 by | 0 Comments
Haunted house? Seven years’ bad luck? Poor feng shi? What matters to home buyers can vary, but does it get to a point where vendors have an obligation to disclose such issues as though they are defects?   Within the industry, such dwellings are known as ‘stigmatised properties’ because they are judged to carry baggage that makes them less desirable. Stigmatised properties include homes where murders and deaths — or other crimes or misfortunes —...

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Property Nerd | News | 2018-07-09

Posted on July 10, 2018 by | 0 Comments
The Victorian State Government has bent over backwards to assist real estate agents whose own professional body has contributed to this debacle. But it appears that there is a long way to go before the matter is resolved.   “To put the allegation at its simplest, whomever approved the form on behalf of the director (CAV) did not properly read the Estate Agent Act. Further, whomever at the REIV had responsibility for preparing the pro...

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Over a Third of ‘Millennials’ Reliant on Inheritance to Purchase Property

Posted on July 9, 2018 by | 0 Comments
It’s not just in Australia that young people are relying on the “Bank of Mum & Dad” or and inheritance. A new report from Sanlam UK has revealed 34% of 25-45-year-olds would use inheritance to purchase property – the second most commonly cited use. Whilst saving or investing came top at 38%, alarmingly, almost a quarter (24%) will be relying on inheritance to pay off debt. Today, parents are handing out an average of £18,000...

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A no-brainer for first home owners – The Experts | Switzer

Posted on July 5, 2018 by | 0 Comments
The new financial year brings a fresh opportunity for first home buyers. If you have kids or grand-kids who will be looking to buy their first home sometime in the next decade, or you are still hoping to achieve that goal yourself, the Government’s new First Home Super Saver Scheme (FHSS) is an absolute no-brainer. http://www.switzer.com.au/the-experts/paul-rickard/a-no-brainer-for-first-home-owners20181904/   Peter Mericka B.A., LL.B – Australian Legal Practitioner, Consumer Advocate and Principal of Lawyers Real Estate Pty Ltd...

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Whoops! Fixing Mistakes In The Practice Of Law

Posted on June 23, 2018 by | 0 Comments
An amusing, but not-so-far-from-the-truth examination of what often happens when lawyers stuff up. If you’re a lawyer DO NOT rely on the first set of tips! One of the dark and dirty secrets about practicing law is that attorneys sometimes make mistakes. That’s because, as you may be surprised to learn, there is a human being lurking inside of each of us. Overturned cases get cited as good authority, numbers get transposed, and that one...

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Is it time to consider commercial real estate?

Posted on May 25, 2018 by | 0 Comments
The author identifies areas that may be of interest to those considering investing in commercial real estate. According to the most recent data released by Colliers in their Metro Office First Half 2018 report, investment returns in metro office markets are at their greatest levels in over ten years, and annual effective rental growth in North Sydney, St Leonards and Chatswood in Sydney, as well as St Kilda Road and the Melbourne City Fringe has...

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The Royal Commission – An Alternative View

Posted on May 25, 2018 by | 0 Comments
Here’s an interesting rejoinder to what the author describes a the “hysteria surrounding the Royal Commission”. We’ve all heard the admissions of misconduct from major institutions at the Royal Commission, with their statements a sad reflection on the conduct and governance of the banks. Whilst these revelations have given the media their headlines, the reality is that the vast majority of lenders act with their customer’s best interests at the forefront of their thinking. http://www.switzer.com.au/the-experts/adrian-sheahan/the-royal-commission-a-loan-writers-perspective20181505/ Peter...

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