Author Archives for Peter Mericka

About Peter Mericka

Peter Mericka B.A., LL.B is a Melbourne based property lawyer and real estate consumer advocate, whose law firm Lawyers Conveyancing has been leading the real estate and conveyancing industry in online conveyancing services for the past two decades.

A Real Estate "Rant And Rave" From NSW

April 30, 2007 1:44 am Published by Leave your thoughts by Tim O’Dwyer M.A., LL.B Queensland Solicitor & Consumer Advocate watchdog@argonautlegal.com.au “Below you will find a rant and rave, if you feel the need to edit it to stop someone from being sued go ahead.” That’s how the incoming email began. It was from a very frustrated consumer who wanted to share with me and The Australian Real Estate Blog’s readers his recent real estate and conveyancing experience while trying to buy a property in...


Estate Agent’s Finance Clause

April 30, 2007 1:41 am Published by Leave your thoughts   by Peter Mericka B.A., LL.B Real Estate Lawyer and Qualified Practising Conveyancer Victoria Lawyers Real Estate Consumers should take care if they find that this estate agent’s “Conditional On Finance” clause has been inserted into the real estate contract. Ian Reid is a Melbourne estate agent whose “Ian Reid Vendor Advocacy Australia” website boasts: “Ian Reid’s career in real estate spans almost 30 years…Over those years, many thousands of clients have come to rely,...


Ultra-Low Deposits

April 30, 2007 1:39 am Published by Leave your thoughts by Tim O’Dwyer M.A., LL.B Queensland Solicitor & Consumer Advocate watchdog@argonautlegal.com.au Every so often Target Stores have a 12.5%-off sale with “no deposit lay-bys”. As most keen shoppers know, sales are common but lay-bys without a deposit are unusual. To purchase on lay-by you usually need to pay 10% of the price. If you have just $20.00 available, no more than $200.00 worth of goods will be “laid by” for you until you pay the...


Commission Factoring – A Dangerous Development

April 30, 2007 1:36 am Published by Leave your thoughts     by Peter Mericka B.A., LL.B Real Estate Lawyer and Qualified Practising Conveyancer Victoria Lawyers Real Estate   We have argued that real estate commissions are a major cause of corruption in the real estate industry. But what if the drive for commission is intensified? What if the estate agent has spent the commission in advance, and fears that the sale may collapse? It is the common experience of lawyers and conveyancers that estate...


Long Overdue: Regulation Of Finance & Mortgage Brokers

April 30, 2007 1:32 am Published by Leave your thoughts   by Tim O’Dwyer M.A., LL.B Queensland Solicitor & Consumer Advocate watchdog@argonautlegal.com.au It has been almost two years since the release of the Ministerial Council of Consumer Affairs’ Discussion Paper detailing options for a national regulatory scheme for finance and mortgage brokers. On Monday this week ABC Radio’s The World Today programme reported on what it described as “the miserable and sad end of the property boom in some Australian cities.” Easy money and climbing...


Scam! That Innocent Phone Call Offering To Help You

April 30, 2007 1:28 am Published by Leave your thoughts Currently, there are at least one hundred active wealth spruikers in Australia. All have one aim – to make themselves richer by making you poorer. An article from the Jenman website. Most use a similar method of enticement (or ‘bait’) to entice you into their lair. Their scams usually start with a phone call which will mention something that appeals to the average family – ‘reduce tax’, ‘prepare for retirement’, ‘no obligation’ – and so...


Scouting Agents

April 30, 2007 1:25 am Published by Leave your thoughts       by Tim O’Dwyer M.A., LL.B Queensland Solicitor & Consumer Advocate watchdog@argonautlegal.com.au How to make a sale and collect a commission…when a property’s NOT for sale! The basic real estate rule across Australia is that a licensed agent is entitled to be paid commission on a property sale provided the owner has engaged the agent in writing for that purpose. It is not unknown for agents to make sales first, then later secure...


Conveyancing Solicitor Suspended

April 30, 2007 1:20 am Published by Leave your thoughts OPINIONby Tim O’Dwyer M.A., LL.BSolicitorConsumer Advocate watchdog@argonautlegal.com.au  Gold Coast solicitor Douglas McClelland, who charged conveyancing fees seven times higher than some other solicitors, has had his Practising Certificate suspended for four months. While cut-price Queensland law firms currently advertise buyers’ fees from as low as $350, McClelland charged 27 clients buying investment properties $2,500 per transaction. After investigation by the Queensland Law Society for the Legal Service Commissioner, no disciplinary action was taken against him...


Trust This Agent With Your Money?

April 30, 2007 12:15 am Published by Leave your thoughts Would you trust an estate agent who is so desperate for cash as to resort to borrowing against future commissions? What lengths would such an agent go to in order to prevent the loss of a sale if the commission has been spent in advance? We have already commented on the concept of Commission Factoring in a previous posting, but it seems that more money lenders are getting into this apparently lucrative area. V.I.P. Cashflow...


Bully Banks Cost Battlers $Millions

April 30, 2007 12:05 am Published by Leave your thoughts by Peter Mericka B.A., LL.B Real Estate Lawyer and Qualified Practising Conveyancer Victoria Lawyers Real Estate For some time now a number of banks and non-bank lenders have been promoting themselves as “the battler’s buddy”, while illegally forcing their clients to pay for costly certificates. We believe that over the past decade these bully banks and their lawyers have fleeced their borrower clients of $Millions. It’s a clever scam, because it avoids the disclosure requirements...