Australian Real Estate Blog

The Value of a Valuation

2008-12-02T23:17:00Z

OPINION by Patrick Brady AAPI, MRICS, Dip. Ed Certified Practising Valuer No. 1277 Director WBP Property Group Many people know the basics of what can impact the value of their property - overhead power lines and busy roads versus sea/tree views and a short stroll to the local coffee shop. To gain a better idea of how to improve the value of your property, it is worthwhile taking a look at what a professional valuer looks for when inspecting a property and how they arrive at the valuation figure....(read more)

Conveyancing Corruption - Lawyers Too!

2008-11-24T08:27:00Z

OPINION by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au (Following on from " Licensed Conveyancer Corruption Must Be Stopped ", Tim O'Dwyer reports on a lawyer conveyancer's attempt to attract referrals from real estate agents. Readers are also referred to Tim's posting Catch 32 On Solicitors' Independence regarding estate agent referrals to lawyers.) After the principal of a small suburban law firm sent an email touting his services to several real estate agents,...(read more)

Licensed Conveyancer Corruption Must Be Stopped!

2008-11-24T01:51:00Z

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd An Appeal To The Australian Institute Of Conveyancers (Victorian Division) (AICVIC) The Australian Institute of Conveyancers (Victorian Division) Inc. (AICVIC) regards itself as the peak body representing licensed conveyancers in the state of Victoria, and it appears to have some influence over the way in which Victoria's licensed conveyancers conduct themselves. I...(read more)

Licensed Conveyancers - A Serious Risk For Consumers

2008-11-18T05:41:00Z

OPINION by Peter Mericka B.A., LL.B Real Estate Consumer Advocate Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd I was motivated to write this article for www.AustralianRealEstateBlog.com.au after I had received a series of emails from a Licensed Conveyancer, Paul Garson of Stonnington Conveyancing. Garson believes that lawyers, who for many years have been the only legitimate conveyancers in the industry, should no longer call themselves "conveyancers"....(read more)

Open For Inspection - Open For Theft!

2008-11-09T23:29:00Z

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd Some time ago I wrote a posting about thefts during property inspections, and noted that some estate agents were including clauses in their sale agreements with vendors that indemnify the estate agent against theft or damage during a property inspection. I also suggested that it is time to " take estate agents and thieves out of vendors' homes ". My last posting drew...(read more)

Open For Inspection? Open For Exploitation!

2008-11-04T18:07:00Z

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd A vendor should always be present during house inspections. Whenever an estate agent shows a prospective purchaser through the property, and particularly when the property is "open for inspection", the vendor should always be on hand to protect not only personal property, but also personal privacy. This was made quite clear recently when two estate agents, both accredited...(read more)

How To Read The Contract Of Sale Of Real Estate

2008-10-29T06:47:00Z

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd The old Contract Note was a very simple document. It contained no General Conditions (these were incorporated by reference) and so purchasers were not frightened of it. Estate agents were never asked difficult questions, and purchasers readily signed it. The introduction of the new standard Contract of Sale of Real Estate has changed this. Consumers are becoming more...(read more)

Fraud Alert

2008-10-29T06:46:00Z

The Queensland Law Society has issued the following Fraud Alert: It has come to the Society's attention that a property seller in Queensland has been approached by, what purports to be, a UK-based law firm called 'Baur and Associates'. The Associate/Department Head from that firm, 'Catanese Palacios' has advised the seller that (s)he acts for a client who is interested in purchasing the seller's property and requests the seller to provide a host of personal identification information. For further...(read more)

Estate Agent Referrals - Punishment & Corruption

2008-10-26T23:32:00Z

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd I have previously written about estate agents who refer clients to "pet" solicitors and conveyancers in return for payment, and the corrupting effect this has on the industry. An equally insidious form of client referral is the "punishment referral". This is where the estate agent refers clients away from a lawyer or conveyancer as a form of punishment. Two separate...(read more)

First Home Owner Grant - Fraud Warning

2008-10-16T23:25:00Z

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd Since 14 October, 2008 we have received numerous telephone enquiries from purchasers of residential real estate who want to change the date of their purchase contract in order to become eligible for the increased First Home Owner Grant. Consumers are warned that the changing of dates on a contract could constitute a serious criminal offence. What happens if a person,...(read more)

First Home Owner Grant (FHOG) Increases

2008-10-16T23:23:00Z

by Shannyn Hunter Conveyancer shannyn@lawyersconveyancing.com.au Lawyers Conveyancing As Australians brace themselves for the global economic shockwave, the Government has announced its “Economic Security Strategy”. The $10.4 billion dollar Government package aims to protect the Australian economy by stimulating the building industry, investment and employment. Prime Minister, Kevin Rudd, believes that the housing sector is critical to Australia’s economic performance. So part of the package is a...(read more)

Sex and the Single Seller

2008-10-16T01:30:00Z

OPINION by Tim O'Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au Do real estate agents score more sexual favours during home inspections than solicitors do at conveyancing settlements? Do agents experience more sexual harassment during inspections than solicitors at settlements? And how do DIY sellers fare? I raised these not-often-asked questions with American lawyer / novelist Mark Gimenez at the 2008 Brisbane Writers’ Festival after he participated in a public discussion...(read more)

New Contract of Sale of Real Estate - FREE Download!

2008-10-09T03:33:00Z

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd I have been very critical of the underhanded approach taken by the Real Estate Institute of Victoria (REIV) in designing the new standard form Contract of Sale of Real Estate so as to create an even more deceptive document than the old Contract Note. To put my money where my mouth is I have designed a superior form of the standard Contract of Sale of Real Estate, and...(read more)

New Contract - Same Old Deception

2008-10-08T08:49:00Z

OPINION by Peter Mericka B.A., LL.B Real Estate Lawyer Qualified Practising Conveyancer Victoria Director Lawyers Real Estate Pty Ltd The new Contract of Sale of Real Estate prescribed by the Estate Agents (Contracts) Regulations 2008 was supposed to end the dodgy practice of estate agents withholding terms and conditions from purchasers, but it hasn't. The document designed by the Real Estate Institute of Victoria (REIV) allows estate agents to trick purchasers into believing that they have received...(read more)

The Finance Approval Minefield

2008-10-02T01:33:00Z

by Shannyn Hunter Conveyancer shannyn@lawyersconveyancing.com.au Lawyers Conveyancing Anyone who has dealt with the banks for a home loan will tell you about their battle scars with pride. Simply securing finance approval can be a frustrating and baffling task. An anxious purchaser can be kept waiting for finance approval because the valuation has been delayed, the vendor has gone overseas, the valuation has been done but your documents are being processed, your broker is on leave, your call is important...(read more)