OPINION by Tim O’Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au During 2008 the Commonwealth Bank made loans totalling $13.5 million to Matthew Perrin, his wife Nicole and their family company. Among other securities, the bank relied on guarantees and mortgages apparently signed by Nicole. Some of these encumbered Perrins’ (previously unencumbered) sprawling Cronin Island family home held in Nicole’s name. Within six months Matthew, but not Nicole, was bankrupt. When the bank eventually sued...
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OPINION by Tim O’Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au Real estate agents are rarely prosecuted or sued. Sure, we regularly hear about misbehaviour in the real estate industry and occasionally a real estate agent appears in court, but this is a rarity compared to the level of misbehaviour and misconduct encountered by consumers on a day to day basis. The reason for the low rate of court actions against real estate agents is the...
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OPINIONby Tim O’Dwyer M.A., LL.BSolicitorConsumer Advocate watchdog@argonautlegal.com.au After many years as a conveyancing solicitor I identified three immutable rules of real estate. The first is that salespersons move fast. The second is that solicitors move slowly. And the third, the reason for the first two, is that buyers and sellers alike can change their minds. When real estate consumers – particularly buyers – change their minds part-way through contracts, their conveyancing solicitors are expected...
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