Another Nail in the Auction Coffin

by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd The Real Estate Institute of Victoria (REIV) has been forced to come clean, and to admit to consumers that "...no binding contract exists until the successful bidder and the vendor have signed a contract." A proposed addition to the legislation governing the conduct of real estate auctions represents one more nail in the auction coffin. In his weekly propaganda piece in the...(read more)

Read More...

[Source: Australian Real Estate Blog]

Jenman Taunts Estate Agents To Sue

Journalist Peter Gregory The Age (Saturday 9 February, 2008) reports that Melbourne real estate agent Paul Castran, managing director of Castran GilbertReal Estate, and the company's sale director Mark Forytarz, annoyed by allegedly defamatory articles by consumer advocate Neil Jenman, are taking legal action against Google to stop internet access to the articles. According to the article , "The allegations are contained in two articles from Mr Jenman's website, which could be seen when the agents'...(read more)

Read More...

[Source: Australian Real Estate Blog]

What Building Inspection Reports Don't Cover

by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au Home buyers must always ensure, when contracting subject to satisfactory building inspection reports, that adequate time has been provided for this in their contracts . In my experience, the ideal time is 30 days from the contract date. This allows for the inspector to make his inspection, prepare his report, deliver the report to you, and for you to consider it. 30 days also allows time for any supplementary inspections...(read more)

Read More...

[Source: Australian Real Estate Blog]

What If The Estate Agent Has Already Spent The Commission?

by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd As any lawyer or conveyancer will confirm, a contract may have to be cancelled for a variety of reasons, even after it has become unconditional. But what if the estate agent has already spent the commission? Lawyers and conveyancers often have a battle on their hands if a purchaser client needs to cancel the contract, or a vendor client wants to let a purchaser walk away....(read more)

Read More...

[Source: Australian Real Estate Blog]

Real Estate Agents Preying On Battlers

by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd " Real Estate Agents Preying On Battlers " is the title of an article appearing on the ABC news website. I invite visitors to read the item for themselves, but it is a comment to this item that I find particularly interesting. Way down the list of 37 comments to the article is one by a contributor known as Rel. Here is what Rel had to say: Quote: "Its president, Noel Dyett,...(read more)

Read More...

[Source: Australian Real Estate Blog]

The "Oh", "Really?" And "I Wish I Had Known That!" Of Making An Offer And Organising Finance

by Shannyn Hunter Conveyancer 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 protections...(read more)

Read More...

[Source: Australian Real Estate Blog]

Ian Reid Takes Aim At Fellow Estate Agents

by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd High-profile Melbourne real estate agent Ian Reid has copped some heavy criticism in the past over his Gazumping Clause and his Finance Clause. However, it seems that Ian Reid can be a straight-shooter when it comes to exposing his fellow estate agents. Ian Reid of Ian Reid Vendor Advocacy has become well-known to Melbournians through his radio and television advertising,...(read more)

Read More...

[Source: Australian Real Estate Blog]