by Peter Mericka B.A., LL.B
Real Estate Lawyer
Qualified Practising Conveyancer Victoria
Director Lawyers Real Estate Pty Ltd
I have been very critical of the underhanded approach taken by the Real Estate Institute of Victoria (REIV) in designing the new standard form Contract of Sale of Real Estate so as to create an even more deceptive document than the old Contract Note. To put my money where my mouth is I have designed a superior form of the standard Contract of Sale of Real Estate, and I am making it available free of charge to all estate agents and industry professionals.
In my 22 September, 2008 posting “Contract Note Banned! Estate Agents Lose Deception Tool” I was optimistic that the banning of the Contract Note and the introduction of a single, full Contract of Sale of Real Estate containing all of the terms and conditions of the sale would end the deceptions perpetrated by estate agents when handling real estate contracts.
In my most recent posting “New Contract – Same Old Deception” I fired a broadside at the Real Estate Institute of Victoria (REIV) after I had received a “short form” Contract of Sale of Real Estate which the estate agent had sent to me and to my client with the message, “Please find attached contract of sale ready for the purchasers to sign…“, and with no General Conditions or Cooling Off information. The estate agent was able to do this because of the devious way the REIV has designed its version of the new Contract of Sale of Real Estate.
To demonstrate that is is possible to incorporate the new prescribed Contract of Sale of Real Estate into a document that is both estate agent friendly and consumer friendly, I have prepared an alternative.
Just click on the following link to download the new Contract of Sale of Real Estate. It is available free of charge to all estate agents and industry professionals:
I have already received positive feedback from an estate agent, who left the following comment:
“I have just downloaded your contract and had a close look at it. There is no doubt, in my opinion, that it is better than the REIV one. The idea of making it openly available is also a great idea…”
I would appreciate any further feedback on this new version of the Contract of Sale of Real Estate.