Auction lingo is confusing potential buyers and putting them at a disadvantage, according to one buyers’ agent. Patrick Bright of EPS Property Search says buyers need to recognise the terminology used by auctioneers to understand the auction’s progress. “Like many professions, real estate has its own language and terminology that is often intimidating and confusing to outsiders.” Bright says the terminology is designed to elicit a response from potential buyers, but if they read between...
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Whether we have been advising and representing property sellers or buyers, Mitchells have long warned our clients to be wary of auction sales. Sellers beware! A crusty old real estate agent once remarked that an auction was little more than a device for persuading sellers to drop your reserve price. And buyers beware…particularly of vendor or auctioneer bids! Some time ago our Tim O’Dwyer, wearing his Real Estate Watchdog’s hat, gave this on-line warning to...
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No, SLOD! is not a typographical error, it’s the name of the website Lawyers Real Estate uses to sell properties for its clients. Lawyers Real Estate is a law firm that sells real estate for its clients for a single fixed-fee, without involving real estate agents. To see the property most recently sold by Lawyers Real Estate, just click on the Facebook link below. To hear some past clients of...
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by Neil Jenman Consumer Advocate Right now, in a lot of areas of Australia, there are a lot of unhappy property sellers. They can’t sell. In some areas, some properties have been on the market for six months, even longer. To sellers, an on-going unsold property can be mental agony. It’s like torture. They all have a breaking point, the day when they say, “Enough, I can’t take it anymore, just sell it.” Ironically, once...
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by Shannyn HunterConveyancer shannyn@lawyersconveyancing.com.au Lawyers Conveyancing On Monday morning purchasers can experience a real estate hangover. After a weekend of elation at finding their dream house and pressure from the agent to make an offer, with hesitation they sign on the dotted line and their concerns about legal advice are pushed aside. They are locked into a contract. Unfortunately, the emotive attachment that causes you to buy a property can also cause you to forego certain...
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An EzineArticle by Greg Root. Are you interested in selling your home quickly? Have you tried or are currently attempting to sell a house without much success (be it unable to find a buyer or perhaps not reaching the target price range you were hoping to hit)? If you are having these kinds of problems, there are many reasons as to why you might not be having much success with your sale, but don’t despair...
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(NOT APPLICABLE IN VICTORIA OR A.C.T.) by Tim O’Dwyer M.A., LL.B Queensland Solicitor & Consumer Advocate watchdog@argonautlegal.com.au Peter Mericka was correct when he stated in Auctions Exposed As Non-Binding that, as every agent, auctioneer, solicitor and conveyancer knows, a contract for the sale of real estate must be in writing and signed before it can be enforced. More particularly such a contract will be enforceable at law even if it is only “evidenced” in...
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by Peter Mericka B.A., LL.B Real Estate Lawyer and Qualified Practising Conveyancer Victoria Lawyers Real Estate Consumers are starting to wake up! Finally the market has turned on an auctioneer, and refused to be manipulated. Although it was tucked away on page 5 of yesterday’s Sunday Herald-Sun newspaper (Sunday Herald-Sun p.5 4 March, 2007), this small article, titled “Auction booed”, indicates that consumers are growing tired of the artificial manipulation of the the real...
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