Monthly Archives: September 2008

Contract Note Banned! Estate Agents Lose Deception Tool

Posted on September 21, 2008 by | 26 Comments
OPINIONby Peter Mericka B.A., LL.BReal Estate LawyerQualified Practising Conveyancer VictoriaDirector Lawyers Real Estate Pty Ltd   The document known in the real estate industry as “the standard REIV Contract Note” has been banned.  As from 28 September, 2008 the only document available to estate agents will be the standard form of contract prescribed by the Estate Agents (Contracts) Regulations 2008 or a contract prepared by a Legal Practitioner or a Licensed Conveyancer. Contract Note –...

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How To Pay Two Commissions In One Sale

Posted on September 16, 2008 by | 5 Comments
OPINIONby Tim O’Dwyer M.A., LL.BSolicitorConsumer Advocate There is an old joke about Lady Cul de Sac.  She did not want the title, but there was no way out. Julie James (not her real name) did not want to complete the contract she signed to sell her investment property after she received a significantly better offer from another party.   When her buyer sued for specific performance there was no way out.  Julie had to settle....

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Beware of Agents’ Pet Building Inspectors!

Posted on September 8, 2008 by | 10 Comments
OPINIONby Tim O’Dwyer M.A., LL.BSolicitorConsumer Advocate When will governments put in place stronger legislative measures to protect real estate consumers not only from self-serving real estate agents, but also from their own trusting natures? The story below from a school teacher client of mine, whilst ending happily, gives ample reason for a long-overdue legal prohibition on agents’ referring buyers to building inspectors, mortgage brokers, solicitors and the like. “A recent experience with building inspectors...

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