Tag Archive: misrepresentation

Why the “cooling off laws” don’t prevent gazumping !

Posted on August 1, 2009 by | 2 Comments
              by George Rousos Director Industry Training Consultants george@itc.nsw.edu.au Statutory authorities must start exercising the same degree of care towards sellers as they do with buyers of properties. It was discovered and found on the NSW Office Of Fair Trading’s website, no cooling-off period  applies to sellers of properties once contracts have been exchanged, sellers are generally bound to complete the agreement. (See the article “Sale Contracts” on the website of the...

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Developers Beware…Of Your Marketing Agent’s Advertising!

Posted on March 2, 2009 by | 2 Comments
OPINIONby Tim O’Dwyer M.A., LL.BSolicitorConsumer Advocate watchdog@argonautlegal.com.au   The Supreme Court of New South Wales recently ruled that the buyers of an off-the-plan property were entitled to a rescission of their contract and a deposit refund because the estate agent for the developer had engaged in misleading and deceptive conduct. These inexperienced investor-buyers had relied on baseless representations in newspaper advertisements that the value of the inner city terrace units being marketed by the agent...

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