Victoria's Section 32 Statements - Tread Warily In This Conveyancing Minefield

by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au Victorias solicitors have been informed by their Legal Practitioners Liability Committee (LPLC) that their mishandling of property conveyancing is one of the most costly sources of clients negligence claims. Whether acting for vendors or purchasers, conveyancing solicitors have been warned to be especially careful regarding Section 32 Statements. Section 32 of Victorias Sale of Land Act 1962 requires vendors...(read more)

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[Source: Australian Real Estate Blog]

Barry Plant Real Estate - "Gazumping" Clause

It would appear that Barry Plant Real Estate has adopted the tactic of having a "gazumping" clause inserted into real estate contracts. We again warn consumers against allowing estate agents to tamper with the contract. A "gazumping" clause is a special condition which is inserted into a purchaser's offer by an estate agent. Effectively, it allows a latecomer to the sale to submit a "bid" to the vendor. If the latecomer's bid is on "more favourable terms" than those in the existing contract, the...(read more)

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[Source: Australian Real Estate Blog]